In 2011, some protestors encouraged borrowers to refuse to repay their student loans as part of Occupy Wall Street. They said that if enough borrowers joined this protest, the lenders would have no choice but to cancel the student loan debt. Few people participated, and even those that did only lasted for a month or two. Nobody went into default as part of this protest. More recently, after the U.S. Supreme Court blocked President Biden’s broad student loan forgiveness plan, some student loan...

Being placed on a college admissions waitlist can create a mixed bag of emotions for applicants. On one hand, it isn’t an outright rejection, but on the other, it can feel as though you're being left on the sidelines. After all the effort you’ve put into essays, interviews, and extracurriculars, being placed on a waitlist can be discouraging and frustrating. But understanding how a waitlist actually functions—and more importantly, what your odds of getting in might be—can help ease some of...

Many people wonder just how much money they actually need to retire. In fact, it’s actually one of the most common questions people ask in regard to retirement.  However, it may not be the easiest question to answer, as there are so many variables—many of which are unknown. You can begin to grasp how much you will need to retire, though, by considering the following questions.

Debt settlement is widely talked about as a way to get out of debt, but not many people truly understand how it works. You may have recently experienced a financial hardship and are strongly considering consolidating your debts to relieve some pressure. Before bankruptcy, there are two main debt consolidation options to consider. The first is a debt consolidation personal loan. This is often for those who still have a good credit score and debt-to-income (DTI) ratio. The second is debt...

Here's our financial checklist of the best money moves you can make by the end of the year to maximize your savings and investments while minimizing your taxes. The end of the year can be a whirlwind. But the actions you take over these final months can have large impacts on your tax bill next April and your long-term financial health.  By taking proactive steps now, you can ensure that your financial life is organized and primed for success as you head into the new year. Wondering which...

Embarking on the journey to higher education is a life-changing decision. One of the first and biggest challenges many prospective students encounter is whether to pursue a college education in-state or out-of-state.  As you know, the average cost of tuition has been on an upward trajectory since sometime around the 1980s. College tuition at a public four-year university increased 9.24% between 2010 and 2022, averaging a 12% increase each year in that period.  Not only does higher tuition...

This Halloween’s most terrifying stories have more to do with your money than goblins and zombies. In light of this spooky season, we’re sharing some scary financial statistics and facts about money that could happen to you. But no need to run screaming, we give you a few recommendations to help you if you’re ever caught in any of these situations.

Should you pay extra to have your tax prep fees taken out of your upcoming tax refund? It sounds like an appealing offer - paying nothing out of pocket. But is it really worth it? The help of a tax preparation service can make your life easier and potentially lead to savings on your tax bill, but having to pay up front for tax prep services can feel like a hit to your wallet. One option is to allow the company to take your tax preparation fees directly from your future tax refund. We explore...

If you’re a business owner, the end of the year can be a very busy time. With the holiday season on the horizon, you may be juggling the demands of your business while making space to spend time with family and friends. There are several things you can do by the end of the year to end on a high note and get ready for tax season. With only 12 weeks left, here are some things business owners should do before the end of the year.

More and more people are learning how to make money using AI (artificial intelligence). The impact of AI on freelancing has been the subject of plenty of discussion as artificial intelligence begins to transform how freelancers operate and get paid.  With a wide range of tools available on several platforms, you can now leverage AI to improve your productivity and provide clients with cutting-edge solutions. In this article, we'll explore how AI can be used to perform various side...

How much will college cost for students aiming to enter in the fall? The most recent data on the average cost of college is out, and we're breaking down the details. If you’re a millennial or Gen Zer, you might have heard people in their 50s and 60s talking about working their way through college and graduating with little debt. Today, that seems impossible. And that has contributed to students graduating with an average of $30,000 in student loan debt. How much does college cost today? Is it...

Most people should not refinance their student loans. However, for some niche situations, it can make sense to refinance your student loans. There are various potential benefits and drawbacks to student loan refinancing. So when you're trying to decide if you should refinance your own student loans, there are multiple factors to consider. The decision will often heavily depend on the type of loan that you have, whether federal or private. If you have federal loans and are currently taking...

If you have access to a reasonably reliable car, then congratulations! Making money driving is one of the best side hustles! A decent car is the biggest asset most Americans own, other than their houses. And there are a lot of ways you can make money driving or with your car!  In fact, I've seen some people try to raise fast cash by selling their cars. But what you might not realize is that there are a lot of other ways to make money using your car. If you have a car and don't mind driving...

The FAFSA – or Free Application for Federal Student Aid – is required for students who want help paying for college. The application is managed by the Department of Education and helps federal, state, and college-level programs allocate financial aid. This includes grants, federal work-study, and eligibility to qualify for student loans. How much aid a student receives depends on a number of factors including their personal finances. Because many college students receive support from their...

I was recently asked a question by a reader about the drawbacks of getting a private student loan. She asked why she shouldn’t get a private student loan, when interest rates are so low right now. She would need to cosign with her daughter on the loan in order to get the best rate. My advice was as follows: the biggest danger of a private student loan is that the cosigner is also liable for the debt. So, should something happen to her daughter, and she can’t graduate and earn income, she will...

Let's talk about $10,000... how to get there and make it happen. Why $10,000? Because it's a number that's big enough to make a difference, but small enough to be achievable by most people who set out for it. And there are some crazy ways to make $10,000, so this will also be pretty fun! We recently discussed how to pay down $10,000 in debt in just one year. One of the strategies is to earn more money - but many people don't think they can earn $10,000 extra in just one year. Today, I'm going...

If you’re listening to this, you probably either have student loan debt or you’re about to incur student loan debt and you're looking for ways to minimize your student loans. With student loan debt balances on the rise, your best bet is to pay off your student loan debt as quickly as possible, or better yet, stop the debt from piling up by taking the preventative measures.  Many graduates have to put their life on hold because of common student loan mistakes. Avoid making these mistakes and...

With college costs and student debt on the rise, students and their parents need to think about ways to cut the overall cost of higher education.  Even if a student wants to attend a four-year university, starting at a two-year university can conservatively lead to five-figure savings. Students who decide against earning a bachelor’s degree can gain a credential (associate’s degree) while spending less time and money than they would in a traditional public university. Whether a student’s goal...

Today's episode is an interview Robert had with Chuck Jaffee from the Money Life Show. He helps answer a reader question: what happens if you have money saved for college in a 529 plan, but then your child (or niece or nephew) don't actually go to college. What are the options? If you're starting from scratch, should you still consider a 529 plan? We hope you enjoy the episode, and if you want to learn more about the Money Life Show, check them out on your favorite podcast platform.

Did you know that your student loans could get you fired? Imagine this: One day your boss pulls you into his office, sits you down, and says there is a problem. However, your work itself has been flawless. But he doesn't want to talk to you about work — he wants to talk to you about your credit report. You see, when you were hired, you agreed to let your employer run your credit report (maybe unknowingly, simply signing a form in your hiring packet). And now, for whatever reason, your boss...

A FERPA waiver, when signed by a student, allows parents to gain access to academic records during college. However, this raises an interesting question: should parents push their college-bound children to sign? Many parents, accustomed to having access to their child’s academic records throughout high school, are surprised when they no longer have the same access once their child enters college. As a result, some parents may consider requesting – or even pressuring – their child to sign a...

One of the biggest fears families have about using a 529 plan to save for college is the dreaded 529 plan penalty. There are many ways to save and pay for college, and the absolute best way to do it varies depending on your specific situation. A 529 plan, which is designed to help you with higher education expenses, is a type of tax-advantaged account that allows you to save and invest money. As long as you withdraw that money for qualified expenses, you can do so without paying taxes on it....

What is a grandparent-owned 529 college savings plan? How do they work? What do you need to know about them and what changes should you know about?  A grandparent-owned 529 plan is a type of 529 college savings plan where the account owner is a grandparent, as opposed to a parent. The grandchild is the beneficiary.  Another alternative would be a custodial 529 plan account, where the grandchild is both the account owner and beneficiary, but the grandparent serves as custodian. There is no...

Low-income students are half as likely to enroll in selective colleges as compared with high-income students with similar grades and test scores. This is called undermatching.  These students are often academically talented and likely to be admitted.¹ ² Still, many end up at less-selective colleges, such as lower-cost public colleges and community colleges. Some don’t enroll in any college at all. Public policy advocates have claimed that very selective colleges are more affordable for...