Paying for college
Book - 2020
"Financing a college education is a daunting task. Best selling personal finance advisor and author Eric Tyson offers strategic guidance on saving and investing for college costs, financial aid, scholarships, the best student loans, college alternatives, and the latest online tools to evaluate schools. Perfect for parents and independent students alike, this book offers proven advice on affording quality college and other higher education. There is no other guide like it!"--
Saved in:
- Subjects
- Genres
- Instructional and educational works
- Published
-
Hoboken, NJ :
John Wiley & Sons, Inc
[2020]
- Language
- English
- Main Author
- Item Description
- Includes index.
- Physical Description
- xv, 230 pages ; 23 cm
- ISBN
- 9781119651475
- Introduction
- About This Book
- Foolish Assumptions
- Icons Used in This Book
- Beyond This Book
- Where to Go from Here
- Part 1. Understanding Paying for College
- Chapter 1. Confronting High College Prices and the Modern Job Market
- Confronting the High Prices of Higher Education
- A brief historical overview of colleges and who completes it
- Don't college grads make more money?
- Mushrooming student debt and its underlying causes
- Looking at How College Pricing Works
- How colleges see you
- Saving now and later
- Somebody give me some money!
- Employment Reality and What Students Say They Want from College
- What students actually do in college
- Hiring and jobs
- Looking at How the Higher Education Landscape is Changing
- College enrollment is declining
- Some colleges are failing and closing
- Colleges are under pressure to contain their prices
- Lower cost and faster alternatives to colleges are growing
- Bottom line is good for you, the college and higher education consumer
- Chapter 2. Financial Planning Steps When Your Kids are Young
- Kids Are Costly! Getting Your Finances in Order
- Building the pillars of personal finance
- Developing and hitting savings goals
- Finding Saving Methods Given How College Financial Aid Works
- What financial aid penalizes
- Recognizing that financial aid rules change
- Spending on Your Kids without Breaking the Bank
- Setting limits, guidelines, and goals with your spouse
- Setting limits with your kids
- Keeping Spending in Line: Using Youth Sports as an Example
- Focusing on the lifelong benefits of sports
- Being mindful of expenses and set budgets
- Being aware of the agendas of "professional" (also known as paid) coaches
- Realizing good parents can make good coaches
- Letting kids simply play - the value of pick-up games
- Considering the opportunity cost of sports' time and expenses
- Being wary of the winning addiction
- Completing the Personal Finance Olympics of Childrearing
- Chapter 3. Exposing Your Kids to Work, Finances, and the "Real World"
- Laying the Foundation for Raising Money-Smart Kids in the Early Years
- Educating when shopping
- Taking your kid to work
- Dealing with What Kids Are Exposed To
- Looking at the effects of advertising
- Understanding habit development and setting limits
- Developing the Work-Money Connection
- Regarding allowances and chores
- Encouraging work outside your home as they get older
- Teaching Your Kids About More Real-World Money Topics
- Being mindful of your statements and attitudes about money
- Don't buy them a car!
- Introducing the right and wrong ways to use credit and debit cards
- Talking to kids about investing
- Part 2. Finding Acceptance
- Chapter 4. Making the Most of Your Kid's Academic and Outside Experiences
- Understanding the Value of Academic Success (Good Grades)
- Jumping Through Hoops: Marketing of High School Students
- Quality over quantity
- 'Focusing on interests and passions
- Helping your teenagers forge their own academic path
- Playing sports
- Getting work experience
- Volunteering
- Chapter 5. Guiding Your Child
- Agreeing to a Process for Making Decisions
- Conducting the Right Research
- Working with and Hiring "Experts"
- Interacting with teachers
- Employing tutors
- Utilizing school/guidance counselors
- Working with a college planning service
- Hiring financial advisors
- Getting assistance with financial aid forms
- Dealing with Mental Health Issues
- Part 3. Confronting College Costs: Traditional Colleges and Alternatives
- Chapter 6. Seeing How Traditional Colleges Decide What to Charge You
- Taking All Your (Financial) Clothes OFF!
- Understanding commonly requested information
- Coming to terms with supplemental information requests
- Valuing Wanting One Another
- Checking on Realities for Recruited Athletes
- Looking at the probability of competing in college athletics
- Deciding on the likelihood of competing in professional sports
- Figuring out how college athletic scholarships work
- Chapter 7. Surveying the Range of College Options
- Considering Four-Year Colleges
- Understanding a liberal arts education and alternatives
- Creating your own business education
- Evaluating the career placement prospects at different colleges
- Using college rankings and ratings for finding the right match
- Understanding the political climate on college campuses
- Deciding if traditional four-year college is the right choice
- Learning and Serving in the Military
- Benefits and required commitments
- Why it's not for most teenagers/young adults
- Admissions process and requirements
- Considering Community Colleges
- Taking a Year Post-High School to Work or Volunteer
- Working for a living (temporarily)
- Volunteering/travel programs overseas
- Taking a post-grad year at a boarding/prep school
- Is College Necessary or the Best Option for Your Children?
- Chapter 8. The Best College Alternatives to Consider
- Looking at Last-Mile Programs
- Staying at boot camps
- Considering college minimal viable products (MVPs)
- Appealing to apprenticeships
- Joining staffing firms
- Getting Oriented with Online Programs
- Finding Out about Vocational/Trade Schools
- Final Thoughts on Alternatives to Traditional Colleges
- College cooperative educational experiences
- Where to go for more information on alternatives to college
- Part 4. Getting the Best Education at the Best Price
- Chapter 9. Financial Steps You Should Take While Your Kids Grow Up
- Determining a College Financial Aid Package
- Figuring the expected family contribution
- Understanding the financial aid package components
- Looking into Long-Term Saving and Investing Strategies
- Financial aid treatment of retirement accounts
- Financial aid treatment of money in the kids' names
- 529 state-sponsored college savings plans
- Coverdell education savings accounts
- Investing strategies and vehicles
- Strategizing to Pay for Educational Expenses
- Estimating college costs
- Setting realistic savings goals
- Determining Later-Year Savings Tactics
- Chapter 10. Filling Out the Common Financial Aid Forms to Your Best Advantage
- Determining Whether to Apply for Financial Aid
- Should your family apply for financial aid?
- Using the "net price calculator" to estimate costs
- Knowing if financial aid harms your chances for admission
- Meeting deadlines
- Taking an Overview of Financial Aid Forms
- Filling Out the FAFSA® Form: Free Application for Federal Student Aid
- Completing the FAFSA® form online versus on paper
- Sending your FAFSA® form to more than the "allowed" number of colleges
- Understanding and dealing with a Federal Student Aid (FSA) ID
- Student is applying for aid
- Selective service registration
- Interested in work-study consideration?
- Federal income tax return questions
- Income earned from work
- Value of your assets
- Number of college students in household
- Getting on Board with the CSS Profile Form
- Parent details
- Current and future year income
- Household information
- Parent assets
- Parent expenses
- Checking Off School-Specific Forms
- Chapter 11. Tricks and Tips for Finding Scholarships and Borrowing Money
- Gaining Grants and Scholarships
- College and university grants and scholarships
- Federal and state government grants
- "Outside" grants and scholarships
- Looking at larger award sources first
- Enlisting scholarship search websites
- Searching for small dollars locally
- Borrowing for College
- Tapping assets versus borrowing
- Borrowing against your home equity and other assets
- Borrowing against cash value life insurance balances
- Using federal government loan programs
- Chapter 12. Reviewing Financial Aid Offers and AppealingThem
- Getting Word on College Acceptances and Doing More Research
- Open house/Acceptance day
- Overnight visits
- Talk to more people!
- (Really) review the course catalog and majors
- Taking a Long, Hard Look at the Bottom-Line Price
- Asking for a better price
- Reviewing the admission and financial aid offers
- Part 5. The Part of Tens
- Chapter 13. (Almost) Ten Education Tax Breaks and Rules You Should Know About
- Contributing to Retirement Accounts
- Checking to See if You Qualify for the Saver's Tax Credit
- Understanding the Tax Benefits of 529 Plans
- Considering Coverdell Education Savings Accounts (ESAs)
- Utilizing the American Opportunity Tax Credit
- Taking Advantage of the Lifetime Learning Credit
- Understanding the Retirement Account Withdrawal Penalty Waiver
- Finishing on Time without High Income Earning Years
- Taking the Student Loan interest Deduction
- Chapter 14. Ten Tips for Getting Your College Degree Quicker
- Communicating Is Key
- Keeping All Your Options Open
- Planning Ahead Financially
- Picking Colleges with High Graduation Rates
- Selecting Colleges that Offer Your Desired Courses and Majors
- Choosing Schools with Affordable Housing
- Getting College Credit in High School
- Making Use of Advisors and Deans
- Having Students Work during College
- Avoiding Stopping School to Work
- Chapter 15. Ten Important Money Management Steps for Young Adults
- Getting Financially Fit, Now!
- Adapting and Adjusting Along the Way
- Cancelling Consumer Credit
- Reviewing Your Budget and Spending Plans
- Striving to Regularly Save and Invest
- Ensuring that You're Properly Insured
- Continuing Your Education
- Always Being Prepared for a Job Change
- Evaluating the Total Cost of Relocating
- Ensuring Compatibility when Picking a Partner
- Chapter 16. Ten Things to Know About Student Loans
- Keeping Track of Your Loans
- Understanding What Cosigners Means for Responsibility
- Knowing the Loan Terms
- Using the Auto-Pay Feature to Save Money
- Understanding Loan Forgiveness Conditions
- Knowing Your Federal Loan Repayment Options
- Cautiously Considering Refinance Possibilities
- Asking for Relief
- Making Use of the Student Loan Interest Deduction
- Pausing Your Loans with a Return to Higher Education
- Index