Paying for College

The majority of this week’s articles happen to be related to paying for college: the cost of college, student loan forgiveness, financial aid and how parents pay for college. I have also included a link to Beth Kobliner’s website and her series on paying for college, which you could recommend to parents.

• After reporting that the “sticker price” of college keeps rising, the WSJ explains that the REAL cost is not.
• A study by Sallie Mae finds that on average, parents pay half of college costs out of pocket. (Business Wire)
• A federal judge rules for immediate reinstatement of student loan forgiveness for defrauded students. (Forbes) explains what to do for students who might be eligible.
• Here is an article illustrating the sad truth about the public service loan forgiveness program from NPR.
• And here is a second article from Young and the Invested that discusses what should be done about this program to make it actually work.
• Think your child has a good chance of getting a full ride to college? Think again. (WAPO) discloses finding of the 2015-2016 National Postsecondary Student Aid Study (the most recent available data.)

– 1.5 percent of students in bachelor’s degree programs got enough scholarships and grants to cover 100 percent of the cost of attendance.

– 2.7 percent got enough to cover 90 percent of the cost of attendance.

– 5.9 percent got enough to cover 75 percent of the cost of attendance

– 18.8 percent received enough to cover 50 percent of the cost of attendance.

• The New York Times had an eye-opening opinion piece last weekend written by a student whose summer job was answering her school’s financial aid helpline.
• Parents might find this guide to planning for and choosing college from Beth Kobliner helpful.

Personal Finance

• Banks realize they need to teach their own employees about personal finance! (bankrate.com)

Investing/Retirement

• If you are a Seinfeld fan, you will really enjoy this piece Ben Carlson giving great guidance to all ages about dealing with stock market volatility that we are now seeing. (A Wealth of Common Sense)
• The FIRE concept has gotten some press lately, but here is a counter argument to retiring so early. (MarketWatch)
• Michelle Singletary has some advice for those of you watching your retirement accounts bounce around and are getting worried. (WAPO)

Economics

• Inflation is back, and consumer goods firms are raising prices. (WSJ)
• Minutes from the Fed’s last meeting came out. Don’t expect them to stop raising interest rates if they feel it is necessary. (NYT)

Lifestyle

• Have you read or at least heard of Marie Kondo’s book “The Life-Changing Magic of Tidying Up?” (Ed note: I have, but haven’t been too successful yet.) There is now a graphic novel adaptation. Here is a review.

About the Author