College Students - 360 Degrees of Financial Literacy

Income-Based Repayment (IBR) for Federal Student Loans

Tue, 14 May 2013 12:35:58 EDT

The federal government's income-based repayment program (IBR) for student loans allows qualified borrowers to tie their monthly federal student loan payments to their discretionary income. A new version of the IBR program called "Pay As You Earn" took effect on December 21, 2012 (it was originally scheduled to be phased in during 2014, but the Obama administration took regulatory measures to make it available sooner). The potential for IBR to change the landscape for college borrowers is enormous. According to the U.S. Department of Education, as of last October, about two million borrowers had applied for IBR.

The American Taxpayer Relief Act of 2012

Tue, 19 Feb 2013 20:32:04 EST

The new year started with some political drama, as Congress passed legislation on January 1, 2013, to prevent the country from going over the "fiscal cliff." The American Taxpayer Relief Act of 2012 (ATRA) permanently extends a number of major tax provisions and temporarily extends many others. The legislation also temporarily postpones major automatic spending cuts that were scheduled to take place at the beginning of the year. Here's what you need to know.

Real-life Financial Tips for Different Generations

Tue, 15 Jan 2013 16:51:14 EST

Do you remember The Game of Life®? In Milton Bradley's popular board game, players progress through life stages making decisions that affect their prosperity. Like those players, today's generations face financial decisions with lasting effects. Here are some tips for staying focused despite life's ups and downs.

All About Federal Stafford Loans

Thu, 20 Dec 2012 15:43:51 EST

A Stafford Loan is the most popular federal student loan. According to the College Board, for the 2010/2011 school year (the latest year for which statistics are available), more than $85 billion in Stafford Loans was handed out to students. Here are the highlights of this popular student loan.

Healthy Personal Finance Resolutions for the New Year

Thu, 20 Dec 2012 15:14:40 EST

The new year is the time when many individuals start making resolutions to live a healthier lifestyle. And while resolving to eat better and exercise more is a good thing, you should be sure to make resolutions that pertain to the overall health of your personal finances as well.

Should You Make Large Gifts in 2012?

Tue, 18 Sep 2012 16:28:07 EDT

Currently, the exemptions for federal gift tax, estate tax, and generation-skipping transfer (GST) tax are at historic highs, and the gift, estate, and GST tax rates are at historic lows. But, in 2013, the exemptions are scheduled to substantially decrease, and the tax rates are scheduled to substantially increase. This raises the question of whether 2012 might be a good time to make large gifts that take advantage of the current exemptions while they are still available.

Is Your 529 Plan Making the Grade?

Tue, 18 Sep 2012 16:25:03 EDT

As of June 2011, there were 8.8 million open 529 college savings plan accounts (Source: College Board, Trends in Student Aid, 2011). If you're one of the millions of parents or grandparents who've invested money in a 529 college savings plan, the arrival of a new academic year may be a good time to see how your plan stacks up against the competition. Mediocre investment returns, higher-than-average fees, limited investment options and flexibility--these are some of the things that might have you thinking you could do better with another plan. If you discover that your 529 plan's performance has been subpar, what options do you have?

Ways Parents Can Help Their Boomerang Kids

Tue, 10 Jul 2012 12:25:38 EDT

It's been called the new retirement wild card. But it's not inflation, health-care costs, or taxes, though those things certainly matter. What is it that's causing so much uncertainty? It's boomerang kids, and the money their parents spend on them.

How to Plan a Last-Minute Vacation

Fri, 01 Jun 2012 17:09:57 EDT

Everyone's had their vacation planned for months ... everyone but you, that is. Fortunately, you can still have your adventure in paradise, if you're willing to put in just a little time and effort.

Four Things to Do in the Four Years Before College

Fri, 01 Jun 2012 17:04:16 EDT

For your child, high school means football games, a driver's license, SATs, and the prom. For you, it means college is right around the corner. Before your child starts touring college campuses, here are four things you can do to get ready.