Posts Tagged ‘ financial aid ’

Should You Start Saving for College Now?

Friday, August 31st, 2012

Editor’s Note: Parents.com has partnered with LearnVest.com to bring you a monthly series of posts about money topics related to moms.  These guest posts will be shorter, edited versions of longer features written by Cheryl Lock, Editor at LearnVest.

As we all know, the cost of parenting can last long after the kids are grown and out of the house.  Money spent on diapers and formula morphs into summer camp fees and back-to-school gear. Then, before you know it, you’re paying for your kid’s college loans well into your 40s and 50s.

Okay, so that’s probably not the way most parents envision spending their money as they near retirement, but according to recent data, quite a few are already feeling that sting. And it makes sense: The average cost of four-year universities rose by 15% between 2008 and 2010, and keeps on climbing higher. Not every family is willing to tax themselves beyond their limits to meet those new sticker prices, though.  In a recent survey, only 53% of parents (down from 64% in the 2009-2010 academic year) said they would stretch themselves financially to pay for college.

But taking out loans that you might not be able to pay back is a financial road you don’t want to go down.  Data released recently by the Federal Reserve Bank of New York shows that middle-aged Americans are actually the age group struggling the most with student loan payments. Not only has the number of middle-aged Americans with student loans doubled since 2005, the delinquency rate (the percentage of debt on which no payment has been made for 90 days) for borrowers ages 40 to 49 was 11.9%, compared to a delinquency rate of 8.7% for borrowers of all ages.

While it’s definitely true that some of these over-40 debtors are still paying off their own loans from college, it appears that many are parents who have taken out student loans to help fund their children’s education.  In fact, The Wall Street Journal reports that the federal PLUS program, which allows parents to take out loans  to help pay for education expenses not covered by other financial aid, is among the fastest-growing of the government’s education loan programs. 

(more…)

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Win a Free 3-Month Budgeting Plan from LearnVest.com

Thursday, March 15th, 2012

Editor’s Note: Due to a link error during the original sweepstakes period, we have fixed the link and decided to extend the sweepstakes.  It will now run between. Fri. 3/30 – Fri. 4/6.  Click here to enter the sweepstakes.

Need some money help? Parents.com partnered with LearnVest.com to bring you the best budgeting and family finance solutions through the Baby on Board Bootcamp newsletter, a free newsletter that helps you manage money better over a course of 10 days.

The LearnVest site is a great resource, one that offers expert advice, helpful tools, (more) free newsletters, and special budget plans that offer round-the-clock, 24-hour consultations with financial experts. There is even a LV Moms section that offers content just for moms worried about balancing the budget at home.

Since Tax Season is upon us, you might be more worried than usual about your finances.  To give you peace of mind, LearnVest is giving away two (2) free voucher codes to access their online Budgeting Plan for free.  The plan includes: a customized list of how to improve all of your financial red-flags, a  30-minute diagnostic phone consultation with a Certified Financial Planner™, and three months of unlimited email support from the same expert.  This helpful plan, valued at $69.00, will help you set realistic budgets and goals and get your financial life back on track.

Here’s how you can be eligible for this giveaway:

1- Sign up for the LearnVest Baby on Board Bootcamp newsletter by CLICKING ON THIS LINK ONLY. Sign up between Fri., March 30 – Fri. April 6.

2- After Fri., April 6, LearnVest and Parents.com will choose two (2) random winners from the sign-up list.

3- The two (2) winners will each be presented with one (1) voucher code to redeem on learnvest.com/make-a-plan/budgeting-plan.  The voucher codes grant the winners access to the Budgeting Plan without any payment.  Winners will have 90 days to redeem the vouchers before they expire.

Read the full sweepstakes rules here.

Goody luck!

More LearnVest.com Features on Parents.com

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Parents Daily News Roundup

Friday, October 14th, 2011

Goody Blog Daily News Roundup

Labor Complaint Against Longer School Day to Get Hearing
The Illinois Educational Labor Relations Board announced late Thursday it will hold a hearing in December to review an unfair labor practice complaint from the Chicago Teachers Union over the contentious longer school day issue.

Use of Asthma Controller Meds on the Rise Among U.S. Kids
The percentage of children with asthma in the United States who use a prescription “controller” medicine has nearly doubled since the late 1990s, a new federal government report finds.

Squeezed Out in India, Students Turn to U.S.
The number of Indian students studying in the United States is surging as competition for admission to top Indian institutions has made that goal nearly unattainable.

As Online Courses Grow, So Does Financial Aid Fraud
Online college courses have proliferated, and so have financial aid scams. Investigators are fighting to keep up.

More Children Visiting ERs for Psychiatric Care
A growing number of American children are receiving psychiatric care in hospital emergency departments, particularly children who have no insurance or are covered by Medicaid.

Babies as Young as 15 Months Grasp Fairness
Even at 15 months, when they are just beginning to grasp language and acquaint themselves with their newfound motor skills, babies understand the concepts of sharing and fairness, suggests a new study.

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