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Can You Use 529 Plan Money for Students Attending College Part Time?

Posted on Apr 26, 2017 with No comments

You're attending a community college this coming year and you will only be going part-time, can you still use your 529 Plan money to pay tuition? Money from the account can be spent at any university, college, post secondary educational institution or vocational school that is associated with the U.S. Department of Education's student aid program. Even some colleges outside of the U.S. are eligible. You can check the Department of Education’s federal school code database, or ask the school if it is eligible.

529 Plan Non-Tuition Expenses

You can be a full or part-time student and use you 529 plan money for any tuition, fees, and required books and supplies. Not only that but you can also spend your money to purchase a computer, printer, scanner, related equipment and software, and Internet access. Requirements are that the computer and related equipment be use primarily by the 529 beneficiary.

Room and Board

If you plan on using your 529 plan money for room and board you will have to follow guidelines that the college says is the allowance for room and board included in the cost of attendance for federal financial aid purposes. As long as the student is at least a half-time student according to the college, then they can use 529 plan money to pay this expense. Check with your college for these specific details which are different for every college. You can usually find that figure on the college’s website, or you can get it from the financial aid office.


4 Tips For Buying Your First House After College

Posted on Apr 25, 2017 with No comments
For many college graduates the idea of moving back in to mom and dad's after college when they can no longer stay in their college dorm is not one they like very much. Many rent an apartment, but some realize the benefits of just buying their own home and having a permanent place of residence.

It's actually cheaper than you think to buy your first home without any risks if you know a few tips. If you are thinking about buying a home here are just a few pieces of advice to help you out.

Get Pre-Qualified

Whether you're buying a home with the help of somewhere like Fischer Homes, or you’re building a home from scratch on your own, it is suggested that you get pre-qualified for a home loan to save you time. 

You can get pre-qualified for free online or over the phone, and find out if it's even possible for you to get pre-approved for a loan to purchase a house. The only information you need to give is your current income, any debts you may have and your assets. 

By supplying this information, you can find out how large of a loan you are like to receive. With this loan amount in mind, you can begin your search for a home within your budget.

Get Pre-Approved

Now that you're confident that you should be able to get a loan, fill out a mortgage application, go to a licensed lender, and see exactly how large of a loan you are eligible for. 

You are going to want to remember that it's best if you can pay the first 20% to 30% down from the loan amount you receive, but make sure to save out a few thousand for moving, home decor costs and any repairs your house needs.

Have Your House Inspected and Insured

Make sure you have the house inspected. This will cost you a few hundred dollars, but it's definitely a necessity. From here, you can see how much the house is really worth and how much you will have to spend on repairs. You will also need this info when you have your house insured, which is also a pretty good idea.

Cut Costs

If you buy a house from the owner, then it will cost you less because it cuts out the cost that would have to go to the realtor. 

You can even talk to some of your friends and family to see if they know anyone that is selling. If you take the time to do some extra research and network well you can end up saving a lot of money down the road.

When buying your first house after college, you won't need to be in a school district yet, but you will want a place that cancels out the hassle of a long commute. This would cut the amount you have to pay per year for your home.


Finance Factors: What to Consider about Your Degree's Overall Cost

Posted on Apr 19, 2017 with No comments
If you're thinking about college, you're probably well aware that it can dramatically increase your life-long earning potential. The costs that go along with earning a bachelor’s degree aren't to be taken lightly, but the actual amount will vary widely.

College Costs

Most colleges change their tuition rates from year to year. But to give you a general idea, for the 2016 to 2017 academic year, public for-profit institutions charged about $25,000 and local state colleges about $10,000 for in-state residents. Private schools charged around $50,000 on average.

Don't forget additional costs such as textbooks, miscellaneous fees, transportation, and room and board which could total from $10,000 to $15,000 yearly.

Additional Studies

Most professional careers, such as psychology or teaching, will require at least a master’s degree. This requires an additional two years of study. One alternative is programs that prepare you for a career in business.

Some schools will specialize in a two-year MBA program. Business majors enjoy the benefit of having the credentials to work on the managerial side of almost any industry, and can often gain valuable experience in apprenticeship or intern programs. Find more information here about MBAs.

Cutting Down on Costs

One way to save is to obtain your associate's at an inexpensive community college. You could also use College Level Examination Programs. 

There are more than 2,900 schools that will allow you course credits for passing CLEP exams. Many students save money by buying used or digital versions of textbooks.

Online courses or colleges will be your cheapest and potentially fastest means of earning credits or degrees. Online studies are becoming both more diverse and more respected. Many schools will even award degree credits for "life experience" such as past employment.

How to Pay

Federal loans may be easier to get than you thought. However, you can't escape paying even if you declare bankruptcy. Non-payment could lead to additional interest and penalties. Many graduates spend years paying off their college loans.

Your first efforts should be focused on federal grants that you don't have to pay back. Many private organizations will also provide scholarships, though you usually have to meet specific criteria.

If you have a few years yet, you might consider tuition savings such as a 529 plan. This is basically an investment account, but since the money is intended for tuition, not as income, it may qualify you for tax deductions or credits.

Attending college and obtaining financing is one of the most important financial decisions you'll ever make. While the costs can be intimidating, if you wind up making a good living at something you enjoy, it's well worth the investment.


70Trades Review - Get Started with Forex the Right Way

Posted on Apr 11, 2017 with No comments
As a new investor have you ever wondered about investing in forex? I ask this since as an investor in stocks often you want to get involved in various other investments to broaden your portfolio.
Some of my friends already invest in Forex but they made it sound difficult. I had to discover not simply a trading system but a site where I could be shown and assisted from raw amateur to pro. What I found was 70trades.

70trades - What does it Mean??

I questioned just what 70trades stood for. Well, it meant just that. The creators of the website figured out through research that you come to be a successful and dependable investor after 70 trades.

I really felt they were serious and looked into it even more. The system uses an exclusive automated formula based trading monitoring system with a great deal of customer control.

70trades has web based sources that teach all investors regardless if you're a novice or an expert investor. With this system you could end up an expert within a short time.

Resources as Well as Training

If you are a newbie in Forex and want get some good training then 70trades could assist you. Do not waste time, take advantage of the many sources readily available right here. There are video clips, tutorials, e-books, as well as 1-0n-1 training.

These resources are tailored to the novice and also if you are a pro there are sources as well as training for your experience also. Some folks find help with these 70trades tips. They additionally supply customer care 5 days a week where you can send them all your tough questions.

Trading Tools

On the 70trades system thereare numerous tools. One of the most vital one is the "Portfolio Builder". This is used to design your portfolio.

All you do is respond to some inquiries and the software program offers you a recommended profile. The questions are easy like amount to invest, experience, risk level as well as age.

This system will help you make some profits quickly. This tool also lets you make all the adjustments in your portfolio quickly and easily.

Will 70trades Help You?

If you are the same as most individuals, you will certainly find profitable trades a rare event in Forex trading. Investors have a tough time making it operate in their favor.

The first couple of poor trades could make feel like surrendering. Never before have I seen a system that makes me believe I could do well in Forex trading. With all the education, learning, training, and also a person looking over your shoulder at 70trades, I actually think they have actually done it.

Take a look at these 70trades reviews to read just what others say regarding this terrific system.


3 Tips for Financing a New Car While in College

Posted on Apr 6, 2017 with No comments
Having a set of wheels in school makes a big difference. The alternative is often being stuck on campus. This article will explore simple finance options that don't just include borrowing. Some of those options include:

  • Pay cash & work
  • Borrow no longer than on a 36 month loan
  • Find a good place for mechanic work

Pay Cash & Work

Some parents worry that working will make it harder for students to graduate. Well, this Boston University article says the exact opposite! Students who work have higher GPAs because they value what time they do have around work, and make sure to get to studying when they have to. If a student just worked as a babysitter for 10 hours a week he or she can make $200. Just one week's pay would cover the loan on a used vehicle. Just be sure that you don't let the loan follow you through graduation.

Borrow: 36 Months or Less

There is definitely nothing worse than having debt hanging over your head for years upon years. You want to make sure that you pay back your car loans as soon as you can. This may mean working a few extra hours at work, but it can be well worth it in the long run. It is also a really good idea to make sure that you aren’t borrowing any longer than 36 months. That way you can avoid having way too much debt and getting yourself stuck financially for years to come. You really want to make sure that you are planning for the future as much as you can.

The Right Mechanic

It is amazing how much money finding a quality mechanic, such as those at City Limit Tire & Service, can save you. When it comes to things like this it is a good idea to do your research and find a quality mechanic that fits within your price range. You may also want to take the time to watch out for good deals in your area so you know when the cheapest time to go in is. Also, if you stay loyal to just one mechanic you may even be able to get deals or discounts for being a solid loyal customer. There are always perks when it comes to things like that.

Overall, there is nothing better than being able to own your own car while you are in college. It definitely helps make your life a lot easier. It is also a good way to be able to spend more time with family and friends. Believe it or not financing a car while in college is possible. All you have to do is take the time to do your research and find the best financing options for you.


Too Busy? How To Get Educated While Supporting Yourself

Posted on Mar 26, 2017 with No comments
The is a very clear connection between higher education and a better-paying job. The question becomes, then, ‘How does an adult, working full-time and often with a family, manage to take classes to earn a degree or certificate?’ The answer is very simple: online classes.

What Are Online Classes?

Also referred to as distance classes, online classes are conducted remotely. The student participates in course activity via his computer over the internet through a website run by a college or university. In a true online class, the student does all the course work by computer and never needs to set foot on campus. Some courses, called ‘hybrids’, do require occasional attendance on campus for seminars or exams.

Who Offers Online Education?

Nearly every college and university in the United States offers online classes leading to a degree or certificate, many of which are geared toward working professionals. It is important to attend only a fully accredited college or university, and that information can be found at the school’s website.

What Is Required to Take an Online Course?

The student must have a computer, a reliable internet connection and some basic computer skills.
These include knowing how to use e-mail, down- and up-load files, use a word processing program, and how to conduct research, both online and in print, using reliable sources. Some specialized classes may require additional skills.

What Does A Distance Class Consist Of?

There are usually four main components to an online class: weekly course readings, online or print; participation in weekly discussion forums; writing assignments; and exams or final projects.

Are Distance Classes Easier Than On-campus Classes?

This is a common misperception and it is utterly false. In a distance class, nearly all communication is done in writing. Course websites are complex and require careful reading and navigating. Participation in discussion forums is required and must be done on schedule.

So Why Take An Online Class?

The advantages are many. Course work can be done at any time that is convenient for the student, day or night, so long as deadlines are met. Being near a campus is not necessary, so courses can be taken at a school in a different state, or even a different country. The learner is in complete control of when and where course work is done. For example, a nurse who wants to further their career could work whenever they need to while earning a BS in respiratory therapy online when they can. It’s a win win.

Online classes are challenging in ways that face-to-face classes are not. But for a busy working adult, they are the path to career advancement and better paying jobs.


What to Know about Owning a Home While in College

Posted on Mar 23, 2017 with No comments
As most young adults head off to college, they assume that they will need to stay in an on-campus dormitory or, at best, in an off-campus apartment or college housing. For some, however, buying a house while in college can be a great use of money.

It may prove to be a real investment that will set you up for financial success for the rest of your life. Be sure to make these four considerations before making payments on a house while you are in college.

Consider Your Credit Score

In order to be approved for a loan, you will need at least a good credit score if not an excellent one. The way to build a credit score is to have a credit card account or loan account open that has a low balance and that shows on-time payments. 

You will also need to prove income and have an excellent debt-to-income ratio. If you do not qualify for a loan on these terms alone, you may need to have help getting a loan by finding a co-signer.

Be Sure to Get Title Insurance

If you buy a home, be sure that the deed comes with title insurance. This is indemnity insurance in case foreclosures or other problems come up in the future with the title to your property. 

This could happen if the authorities discover that previous owners did not have full ownership of the home. If you are getting a mortgage through a lender, the lender will most likely insist that title insurance be on the home.

Consider Maintenance Costs

While owning your own home during college can help you save money on rent, you must consider the other costs of having a home. You will be paying for all the utilities yourself and will need to have the time and money to maintain the home both inside and out. 

If anything breaks down, leaks or quits working, you will be the one to have to foot the bill rather than a landlord. Be sure you have the money to cover these unforeseen costs should they arise, and the time it may take to fix these problems between classes and homework.

Earn Equity and Save Money

One of the biggest benefits of owning a home is the chance to build equity. As you pay down your mortgage and the longer you live in a home, you will build more equity. 

In addition, as a homeowner, you can find many ways to save money, such as by renting out a portion of the house if it is a multi-family dwelling, or by renting out bedrooms to other college students. In some cases, the rent you receive each month could cover your monthly mortgage payments.

Buying a house while in college is not right for everyone because many lenders insist that you have 20% of the cost of the home for a down payment. 

However, if you are able to get a loan with a good interest rate, you will find that the house will generally pay you back as you gain equity and consider using it as a rental even after you have graduated. With property in the right location, you may even find that you can make money off your college home as you live in it.


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