Financial aid is essential for many families, even more so now in light of COVID-19. How much do you know about this important piece of the college financing puzzle? 1. If my child attends a more expensive college, we’ll get more aid Not necessarily. Colleges determine your expected family contribution, or EFC, based on the income and asset information you provide on the government’s financial aid form, the Free Application for Federal Student Aid (FAFSA), and, where applicable, the College…
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The 2020-2021 academic year is right around the corner, and the coronavirus pandemic has upended the college world, like everything else. Not only has COVID-19 impacted short-term college operations and student summer plans, but the virus could end up being the catalyst that changes the model of higher education in the long term. Here are some things to know about the changing college landscape. College funds. Market volatility has been at record high levels this year, and college nest eggs…
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You’ve put in the hard work as a college student and finally received your diploma. Now you’re ready to head out on your own. And though you may not have given much thought to your financial future when you were in college, you have new financial challenges and goals to consider. Fortunately, there are some simple steps you can take to start on the right track with your personal finances. Set financial goals Setting goals is an important part of…
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Being able to send your child to college is near the top of the wish list for most parents. A college education can open doors to many opportunities, and is increasingly necessary in today’s economy. But that diploma doesn’t come cheap. Unless you are very well off financially, it’s difficult to sit on the sidelines for years and then suddenly find the money to pay for college when your child is ready to go. The best thing to do is…
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Even with all of your savvy college shopping and research about financial aid, college costs may still be prohibitive. At these prices, you expect you’ll need to make substantial financial sacrifices to send your child to college. Or maybe your child won’t be able to attend the college of his or her choice at all. Before you throw in the towel, though, you and your child should consider steps that can actually lower college costs. Although some of these ideas…
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Lauren Bondi Marketing Intern lauren@prosperwell.com My Quote “Success is not final, failure is not fatal: it is the courage to continue that counts” ” My Story Lauren grew up in Blaine, MN and attended Mounds View High School. Currently, she is finishing her senior year at the University of St. Thomas pursuing a Bachelor of Business Administration with a major in Marketing. Lauren is our marketing intern primarily focused on social media marketing. After her internship, she plans on continuing…
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Jillian Goelz Client Concierge jillian@prosperwell.com | 763.231.9510 My Quote “What you think you become. What you feel you attract. What you imagine you create” – Buddha My Story Jillian grew up in Maple Lake, MN with a love for sports and played volleyball, basketball, and softball. She went on to graduate from St. Cloud State University with a Bachelor of Science with a degree in Finance with the intent of pursuing a career in financial planning. Jillian believes that finances…
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If you’re a parent, the start of a new school year may have you considering how much you’re able to set aside for your child’s college fund. Average annual tuition in the U.S. is $38,185 for private college and $10,338 for public college.[1]1 And those numbers may rise by 2%–3% in the coming school year.[2]2 So, the sooner you start saving to support your child’s future, the better. Fortunately, investment accounts, such as 529 plans and Coverdell education savings accounts,…
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You may have purchased life insurance years ago and never gave it a second thought. Or perhaps you don’t have life insurance at all and now you need it. When your life circumstances change, you have a fresh opportunity to make sure the people you love are protected. Marriage When you were single, life insurance might have seemed like an unnecessary expense, but now someone else is depending on your income. If something happens to you, your spouse will likely…
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