Are you planning to use your home equity line of credit (HELOC) as a source of cash to cover out-of-pocket expenses for your child's college education? Are you re-financing a mortgage and taking cash out of your equity for those expenses? Before you spend a dollar of that money, please read our article under "Parents" on this website. The IRS has restrictions on such uses.
Are the things you "know" about college admissions and financial aid true and accurate?
I referee soccer -- many are aware of that. That sometimes puts me on the touchline (sideline for the non-soccer people) where parents, grandparents and others sit to watch and enjoy the match. The close proximity allows me to catch bits and pieces of conversations. It is amazing how much inaccurate information people share with each other about college admissions and financial aid.
It is painful to hear. I want to stop, turn around and offer my workshop on the spot. Can't do that at a soccer match.
Is your student in 11th grade, or younger? Have you attended my workshop ever, or has it been more than a year? Please reach out to me. It will be my pleasure to bring you up-to-date with accurate information.
Every day people ask me something along the lines of, "What kind of work do you do?" Well, for all of you who have not had the benefit of a personal meeting with me, here's the link: http://youtu.be/LiJGkT6KT-g
If you like what you see, let's talk so I can help you apply the truth to your financial success plan. And, please, share the link with your friends and family.
Don't overlook dad or mom!
A "pink slip" comes as a shock! It has happened to me. It is never a good time to get the formal notice your job has been eliminated.
Although at Succeed Where It Counts we work primarily with parents to economize on of the costs of sending a child to college, we are aware that sometimes a parent is also lfacing the need to re-engineer the career track. The link at the top of this page takes you to an article of relevance to that topic.
Thanks to my friend Chris Dickson at Golden Career Strategies, Mallard Creek Road, CHarlotte, for the heads up.
Google's login page today displays their logo adapted to honor Raymond Loewy. Loewy is one of those persons whose influence even today is profound, yet little known. Check out his website: http://www.raymondloewy.com
There you will find this: "Loewy lived by his own famous MAYA principle - Most Advanced Yet Acceptable. He believed that, 'The adult public's taste is not necessarily ready to accept the logical solutions to their requirements if the solution implies too vast a departure from what they have been conditioned into accepting as the norm.'"
That parallels the defining question I ask everyone, "If what you think is true turned out not to be when would you want to know?" How to pay for college, your house, your cars; or how to save for your future with the goal of maintaining your present lifestyle are the financial solutions everyone wants. Yet, sometimes even when presented with a superior outcome, people find it hard to accept the numbers staring them in the face.
In honor of Raymond Loewy, the designer of the Coca Cola bottle, I ask you, "If what you think is true about your financial plan for college expenses and retirement turned out not to be true, when would you want to know?"
Fifty-eight days . . . yes, 58! January 1 is that close. FAFSA opens for applications for the 2014-2015 academic year January 1.
Financial aid is mostly distributed on a "first come, first served" basis. Our recommendation is that every family complete FAFSA (Free Application for Federal Student Aid) as soon after January 1 as is practical.
True, you will not have your taxes done by then. Does not matter. Use your 2012 return or your best guess about what 2013 will look like. But get it done.
Elsewhere on this website under "Student" there is more information. Alongside of that are three more articles you will want to read.
Reach out to us for help with FAFSA, retirement questions and any other college and financial concerns you have. We get it -- we're parents, too!
Was privileged to have lunch today with Jeffrey Bowe, a professor with Catawba College (Salisbury, NC). He was telling me about a cooperative program run with Central Piedmont Community College. Through the program a student may earn a 2 year, Associate Degree at CPCC, and transfer to Catawba College to finish the bachelor's degree. Full credit will be given for all of the hours earned at CPCC. Making it even more convenient, the Catawba classes are taught on the CPCC campuses. Very affordable, and very convenient. This is an especially viable option for any student who must work in order to afford college.
- 11th Grade, heading to college -- What should I be doing? Part 4
- 11th Grade, heading to college -- What should I be doing? Part 3
- 11th Grade, heading to college -- What should I be doing? Part 2
- 11th Grade, heading to college -- What should I be doing for admissions and financial aid?
- Four-Year Myth -- What You Can Do Now
- The Four-Year Myth -- why are students not graduating in 4 years?
- On-Time Graduation is Not Optional
- Four-Year Myth -- Graduation Rates Matter
- The 4 Year Myth -- Hidden Costs
- The 4 Year Myth -- a true story
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