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Written by Chuck Bowen
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Monday, 23 November 2009 13:51 |
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 Being successful in life involves doing things that are a real struggle for us, as well as others that come easily. If we spend most of our time (sometimes ALL of our time), though, on things that drain us then we really limit the energy we may focus on being truly remarkable.
Some areas that always deplete you and, therefore, you should do LESS of may include:
- Being patient
- Focusing on the details
- Focusing on the possibilities (strategic,futuristic)
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Written by Chuck Bowen
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Wednesday, 02 May 2007 10:31 |
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 College is expensive. According to The College Board, in '05-'06 the average public school annual cost was $12,127 and $29,026 for a private school (including tuition, fees, room & board). And, it's increasing faster than inflation (>5% per year). Be encouraged though! Almost 70% of students attending a four-year college paid less than $8,000 in tuition and fees during that same period. Perhaps all those zeroes don't faze you because you've successfully squirreled away plenty of money for your child's education via a 529 college savings plan or some other means. If so, way to go!
But what if you haven't come close to pulling that off? The following tips can provide you with additional ideas about how you and your child can drum up money for school. The links contained within many of these tips and the resources at the end of the column can provide you with much more detail about specific strategies if you need it. Read more from MSNBC.com.
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Written by Chuck Bowen
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Friday, 04 May 2007 06:13 |
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I've read that in a number of 529 program disclosures, and other places, a description of the federal financial aid treatment of 529 plans that differs from SavingForCollege.com's explanation of the changes made last year in the financial aid law. SavingForCollege.com's interpretation, supported by notices issued by the U.S. Department of Education, is that student-owned 529 accounts are no longer reported on the FAFSA when the student has to include parent income and assets (i.e. the student is applying as a dependent). But elsewhere you may read that the student-owned 529 account is counted as a parent asset at a maximum 5.6% rate. Who's right? I side with SavingForCollege.com, based on the law as written. It appears that others may be anticipating an amendment to the law, sensing that the elimination of student-reported 529 accounts was an unintended drafting error. To us that seems a bit presumptuous. Congress clearly intended to put 529 accounts and Coverdell education savings accounts in a special place as a way to encourage the use of college savings plans by American families. But no matter who is right about what the law currently says or is supposed to say, in the worst case a student- owned 529 escapes the 35% assessment levied against other student-owned investments (dropping to 20% next year) and instead is assessed at a maximum 5.6% rate. Still a good deal. If you want to learn all about college planning (how the plans work, options to reduce expenses, etc) including other options to pay for school (Ex. scholarships like this one) then join me this Saturday evening at Community Bible church. See more in the 'Events' section of this e~newsletter.
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