The College Investor Audio Show

A full-ride scholarship covers the full cost of attendance, including tuition, fees, room and board, books, supplies and equipment.It can include college-specific awards, national programs from private scholarship providers, and athletic scholarships.But while winning a full-ride scholarship is a prestigious accomplishment and significantly eases the cost of paying for college, it's very elusive, with few students winning a full-ride each year. The good news is, there are steps you can take to improve your chances.

Colleges have been known to withhold college transcripts to recover unpaid debts. But this practice is becoming illegal in some places.For many students and alumni, a college transcript is more than a piece of paper – it's a gateway to career opportunities, additional education, and professional development. But what happens when a college withholds your transcript? Is it even legal for an institution to do that?The answer is complicated, yet this is a reality for many who face unpaid debts to their former colleges. Let's dive into why this happens, the rules governing transcript withholding, and how recent regulatory changes could affect you.

CDs (or certificates of deposit) are low-risk savings vehicles offered by banks, credit unions and many other financial institutions.Individuals can commit a certain amount of money for a specific period of time, and the issuing bank commits to paying a specified rate of interest.CDs generally have terms ranging from a few months to several years, and usually offer higher yields than savings accounts. But with over $1 trillion in CDs maturing in 2025, investors have some big decisions to make.

Dual enrollment allows you to earn college credit while you're still in high school. Doing so can help you save money on the total cost of your education while preparing you for a more rigorous course load once you start college.A 529 plan can be used for dual enrollment but there are some things you should be mindful of before you withdraw funds from your account.

As you start to consider where you'll go to college, affordability is typically top of mind. The cost of higher education in the U.S. can be daunting, but understanding financial aid policies – and identifying need-blind colleges – can make the process less overwhelming. If you're unfamiliar with the term “need-blind,” it refers to an admissions policy in which a college chooses not to consider a student's financial situation when making the decision on whether to admit that student. Here's everything you need to know about need-blind schools and how they might impact your college decision.

Financial aid consists of loans, scholarships, and grants that help cover the cost of college. Depending how much you need to pay for books, tuition, and housing, you may have some money leftover in your bursar's account.What should you do with unused financial aid money? Should you spend it or save it for the future? More importantly, can you return it if you don't need or want it?Let's dive deeper into the pros and cons of unused financial aid money and whether or not returning it is the right move to make.

If there's one thing you're certain to encounter in college, it's group projects. Some students love the collaboration, while others dread the challenge of coordinating and communicating with classmates.And while many might warn you to prepare yourself for uneven workloads, unclear expectations, and endless group chat notifications, it's not all bad.Group projects don't have to feel like a chore. In fact, they can actually create opportunities to learn essential skills, such as collaboration, leadership, and problem-solving. The secret to success lies in preparation, communication, and strategic planning.With the right approach, group work can be a rewarding experience for everyone involved – and a chance to deliver results that are better than what you might have achieved on your own.

Student loans are back in repayment, and starting in 2025, that also means that collection activity has resumed on student loan debt. Could your student loans cause you to see your tax refund garnished?According to data from the Department of Education, around seven million borrowers have defaulted on their student loans. Those who are in default could risk having their tax refund seized come tax time.You might be planning on getting a tax refund in 2025 but if you're in default on your federal student loans, your refund could be at risk. Here's what you need to know about how tax refund garnishments work and how to stay out of default to avoid losing your refund.

529 plans offer a dedicated way to save for education costs. Generally, parents or grandparents open up 529 accounts to build up a war chest for the beneficiary to eventually use on college or other educational costs. Since the primary contributor to a 529 isn't the beneficiary of the account, the ownership rules might feel a bit murky. We get clear on 529 plan ownership rules in this guide.

If you or your family have saved money for your education within a 529 plan, you can use those funds to pay for qualified education expenses without tax implications. But how about students who opt to attend a trade school instead of a traditional college or university? Can you still use the funds in your 529 to cover college costs. We explore what the funds in your 529 can be used for, whether apprenticeships are eligible, and share some tips of how to fill any potential funding gaps.

The student loan problem is complex and has multiple underlying causes. Rising college costs, increased student borrowing, complicated repayment options, and a lack of adequate oversight have all contributed to the problem.Several stakeholders share responsibility for this crisis: federal and state governments, educational institutions, loan servicers, private lenders, and even individual borrowers who may not fully grasp the long-term implications of their loans. Colleges have raised tuition faster than inflation, and government grants have failed to keep pace with increases in college costs, pushing more costs onto students and their families. Loan servicers and lenders have also been criticized for misleading practices, and many borrowers lack access to sufficient financial education before taking on debt.Solving the student loan problem requires a comprehensive strategy, not a single solution. Addressing the problem will require a multifaceted approach involving policy reforms, simplifying the student loan programs, and better regulation of college costs and lending practices. Additionally, increasing financial literacy can help students make more informed decisions about borrowing and repayment.Ultimately, understanding the root causes of the student loan problem is key to developing effective and sustainable solutions.

Curious about how AI answers work in personal finance? Hint: not very well. In fact, so bad that you could really hurt your finances.Robert joined the Stacking Benjamin's podcast to discuss AI in Finance, including sharing the results of The College Investor's recent AI Study.Check out the full interview here!

President Trump generally does not support student loan forgiveness and would likely seek an end to some student loan forgiveness programs. But can the President claw back student loan forgiveness that has already been granted?It's sparked a lot of concern in recent weeks, especially as President Biden has continued to propose new student loan forgiveness plans and already has set a record during his presidency for the most student loan forgiven.As of November 2024, President Biden has provided $175 billion in student loan forgiveness for 4.6 million borrowers, more than any previous president. For borrowers that have already received forgiveness, the question looms:Could Trump claw back student loan forgiveness that has already been granted? The answer is generally no.Let's break it down and learn why past loan forgiveness is likely protected, but future loan forgiveness could be in jeopardy.

According to a new report from John Burton Advocates for Youth (JBAY), College Cash Uncovered, there are significant discrepancies between colleges' published cost of attendance (COA) budgets and the actual expenses students face. These discrepancies contribute to college affordability challenges and inadequate financial aid. This leaves some students with financial gaps of $10,000 or more.John Burton Advocates for Youth (JBAY) is a nonprofit organization that focuses on improving the lives of youth who have experienced foster care or homelessness. They work on policy advocacy and providing resources to at-risk youth, including stable housing, education, healthcare and financial support. The organization tries to address higher education access, financial aid and foster youth transitions into adulthood.

Today's episode is an interview Robert had with Shellee Howard from the College Ready podcast. He talks about financial literacy for teens and parents, the ROI of college, how to think about student loans, 529 plans, and more!We hope you enjoy the episode. If you want to learn more about the College Ready podcast, check it out on your favorite podcast platform.

Being placed on a college admissions waitlist can create a mixed bag of emotions for applicants. On one hand, it isn't an outright rejection, but on the other, it can feel as though you're being left on the sidelines.After all the effort you've put into essays, interviews, and extracurriculars, being placed on a waitlist can be discouraging and frustrating. But understanding how a waitlist actually functions—and more importantly, what your odds of getting in might be—can help ease some of that uncertainty and inform your next steps.We'll dig into how the college waitlist process works, factors that influence acceptance from a waitlist, and what you can do to improve your chances. We'll also look at real data from UC Berkeley's 2022 admissions cycle to give you a sense of how waitlist odds play out in reality.

Here's our financial checklist of the best money moves you can make by the end of the year to maximize your savings and investments while minimizing your taxes.The end of the year can be a whirlwind. But the actions you take over these final months can have large impacts on your tax bill next April and your long-term financial health. By taking proactive steps now, you can ensure that your financial life is organized and primed for success as you head into the new year. Wondering which items are most important to add to your end-of-year financial to-do list? Below are nine money moves to make before the new year to boost your bottom line.

Should you pay extra to have your tax prep fees taken out of your upcoming tax refund? It sounds like an appealing offer - paying nothing out of pocket. But is it really worth it?The help of a tax preparation service can make your life easier and potentially lead to savings on your tax bill, but having to pay up front for tax prep services can feel like a hit to your wallet. One option is to allow the company to take your tax preparation fees directly from your future tax refund. We explore when it makes sense to pay for tax preparation services, when it doesn't, and the logistics of paying.

If you're a business owner, the end of the year can be a very busy time.With the holiday season on the horizon, you may be juggling the demands of your business while making space to spend time with family and friends. There are several things you can do by the end of the year to end on a high note and get ready for tax season. With only 12 weeks left, here are some things business owners should do before the end of the year.

How much will college cost for students aiming to enter in the fall? The most recent data on the average cost of college is out, and we're breaking down the details.If you're a millennial or Gen Zer, you might have heard people in their 50s and 60s talking about working their way through college and graduating with little debt. Today, that seems impossible. And that has contributed to students graduating with an average of $30,000 in student loan debt.How much does college cost today? Is it worth it to pay that much for a college degree? Well, we have the data through 2023 (the most recent available), so let's break it down.In today's post, we'll talk about the average cost of a college education over time and how you can get the most for your money as you research and decide on which colleges to attend.

The FAFSA – or Free Application for Federal Student Aid – is required for students who want help paying for college. The application is managed by the Department of Education and helps federal, state, and college-level programs allocate financial aid. This includes grants, federal work-study, and eligibility to qualify for student loans.How much aid a student receives depends on a number of factors including their personal finances. Because many college students receive support from their parents, the entire family's financial situation is also taken into account as part of the application process.Filling out the FAFSA correctly is important if you're expecting to receive financial aid to help pay for college. Small errors can impact how much you receive or whether or not you receive financial aid at all. These are the 10 biggest FAFSA mistakes you'll want to avoid.

Today's episode is an interview Robert had with Chuck Jaffee from the Money Life Show. He helps answer a reader question: what happens if you have money saved for college in a 529 plan, but then your child (or niece or nephew) don't actually go to college. What are the options? If you're starting from scratch, should you still consider a 529 plan?We hope you enjoy the episode, and if you want to learn more about the Money Life Show, check them out on your favorite podcast platform.

A FERPA waiver, when signed by a student, allows parents to gain access to academic records during college. However, this raises an interesting question: should parents push their college-bound children to sign?Many parents, accustomed to having access to their child's academic records throughout high school, are surprised when they no longer have the same access once their child enters college. As a result, some parents may consider requesting – or even pressuring – their child to sign a FERPA waiver. But is this a good idea?We'll explore the nuances of FERPA, the implications of signing a waiver, and the potential consequences of forcing a college student to comply.

I don't know what to do after college!?! It's one of the most common questions I hear - from high school grads, to college students, to even some nearing college graduation.If you find yourself saying, “I don't know what to do after college,” you are not alone.The truth is, most college grads have a "now what" moment. You've basically lived your entire life to-date in some type of educational setting. Even if continuing on to grad school or some form of post-baccalaureate education is not in your immediate future, and a job is not exactly what you are looking for, there are ways to live life after college that will still make you a productive member of society.I'm going to share with you my thoughts on what to do after college. Maybe you think these are basic - fine. But maybe they will give you some food for thought.

Are you ready to take control of your financial future?You don't need a financial advisor to develop your own financial plan. In fact, YOU are the best person to put one together.When you're directly involved in mapping out your finances you'll be more likely to actually stick with your goals. Plus, you'll have a keen awareness of where you stand financially and what it's going to take to get you to the next level.Here are six elements of a strong financial plan.

Demonstrated interest refers to the ways a student indicates interest in a specific school. This includes visiting campuses, reaching out to admissions officers, participating in prospective student events, and even interacting with the school's online resources.Let's face it: the college admissions process is notoriously competitive. Over the past few decades, getting into college has become increasingly difficult, with the average acceptance rate hovering just under 70% across the US.Gone are the days when admissions officers only looked at a prospective student's grades and test scores. Now, students face a whole list of factors that schools secretly look for.Demonstrated interest is on that list.

The average cost of tutoring can vary based on a number of different factors. While it used to be something only the wealthy could afford lower costs and new technologies are making it more accessible.For example, working with a private tutor in a large city, will likely be more expensive than working with a tutor remotely. This article dives into tutoring costs and some of the things you'll want to consider before you begin working with a tutor.

Today's episode is a live stream interview with GradGuard CEO John Fees. We talked about tuition insurance and when it makes sense, and then covered dorm room renters insurance. There was some listener Q&A mixed in!Enjoy! Let me know what you think.

Life during college often comes with many ups and downs. Sometimes, life throws an unexpected curveball that requires students to withdraw from school mid-semester. If you've already paid for classes, you might not get a refund. That's where tuition insurance can help.Whether you are a parent or student, tuition insurance can be a worthwhile way to secure your investment.In partnership with GradGuard, let's take a look at five common reasons you should consider tuition insurance. GradGuard is a leading tuition insurance provider and they can help you protect your college financial investment. Get a quote here and see how affordable tuition insurance can be >>

As high school graduation approaches, you might find yourself at a crossroads. Should you take the conventional route and go straight to college, or have you been dreaming about taking a break from school to try something new?Either option holds its value. While fewer than 5% of high school students in the U.S. choose to take a gap year before enrolling in college, the Gap Year Association reports that “students who had taken a gap year were more likely to graduate with higher grade point averages than observationally identical individuals who went straight to college.”In this article, we focus on common pros and cons of taking a gap year and identify some ways to help you take your next step, regardless of your decision.

A tuition payment plan is a lesser-known way to pay for college as you go. It breaks your tuition bill up into smaller payments, allowing you to pay in installments over time. Remember, how you decide to finance your college education is going to be one of the most important decisions you make in your life.While a lot of students opt for student loans or financial aid packages, that isn't the only way to pay for college. In this article we'll dive into how tuition payment plans work, how much they cost, and some things you'll want to be aware of before you enroll in one.

Did you know: marital status can be a factor when determining financial aid eligibility.If you are making your way through college after tying the knot, your financial situation will likely look different than that of your single peers, which could impact your access to financial aid.But everyone's situation is unique. We explore some of the potential benefits for married college students below.

The college admissions process is notoriously competitive. The last several decades might even indicate that getting into college has become harder, overall. College acceptance rates hover at a national average of 68%, though the rate at some of the nation's top institutions is a shocking 3%.Let's put that into perspective, though. Of course, acceptance rates drop when more students are applying, and colleges have largely seen nonstop growth since the mid-twentieth century. There are roughly two million more students enrolled in college today than in 2004 and just over seven million more enrolled today than in 1984. In only four decades, that's nothing to sneeze at!And while colleges tend to emphasize the importance of an applicant's academic performance, extracurricular involvement, and personal essay, there are more covert factors taken into account that are not discussed publicly. Read through these less obvious yet significant aspects that could play a role in your admissions decision.

In recent years, many colleges and universities have adjusted their campus pet policies to meet the changing needs of students.Having a pet in college was once a rarity, but pet-friendly campuses are now more common as colleges work to create a more supportive environment for their students.That said, having a pet as a college student is a big commitment in terms of financial responsibility and time commitment. From explaining common pet policies to reviewing current trends on campuses, we break down the ins and outs of owning a pet as a college student to help you make the most informed decision for you and your pet!

Ever wonder which schools are considered "Ivy League", and where the term came from?Ivy League schools are an elite group of eight private universities based in the northeastern U.S., best characterized by their historical campuses, rigorous academic programs, and strong alumni networks.From explaining the term “Ivy League” to discussing the current global influence of this network of schools, we'll walk you through the history of Ivy Leagues over time, including how they've impacted higher education and how relevant they are in the current age of expanding access to college.

It can be confusing to understand whether you're a dependent or independent student for FAFSA and financial aid purposes.Given the current cost of higher education, college students need all the help they can get when paying for college. There are a variety of different ways to pay for college, including paying your own way, scholarships, grants, and student loans.Nearly all forms of financial aid start with filling out the Free Application for Federal Student Aid (FAFSA) form that is made available by the U.S. government. And one of the key sections of the FAFSA form is determining whether you are a dependent or independent student.

Getting an inheritance is the epitome of a mixed blessing. You receive a financial windfall, but the cause is the death of a loved one. On top of complicated emotions, you may be dealing with the largest sum of money you've ever seen.Nobody is born knowing how to handle an inheritance, and few people are prepared to handle one. But if you've received an inheritance, you can take a few steps to use the money wisely.

College meal plans are a way to prepay for your meals while on campus. This can be a convenient way to get food, as most college dorm rooms do not have kitchens. Depending on the college, they may offer a variety of different college meal plans, ranging from pay as you go to an all-inclusive meal plan that covers all of your meals.

If you're looking for additional funds to pay for college, you may be looking at Federal vs. private student loans.After you're admitted to college, you'll receive a financial aid package that breaks down your cost of attendance minus any grants, scholarships, or other sources of financial aid you're eligible for. This financial aid package includes federal student loans.Many students choose to cover their college expenses with Federal student loans, but it's not the only way (or you may need to borrow more than Federal loans offer). You can also use private student loans. There are pros and cons to consider before going the private route, but it might be the right decision depending on your financial situation.We explore the differences between federal vs. private student loans and what you should consider before signing on the dotted line.

Sharing a living space with someone for the first time, whether it's your best friend or a total stranger, can be exciting and intimidating at the same time. There's a lot to navigate that exists outside of your control: habits, personalities, cuisine, culture, and a number of other lifestyle factors shared in a tight space.You're not alone in your concerns, though, and it's likely your roommate has been thinking something similar. Finding harmony in your college roommate experience requires a number of soft skills to foster a positive relationship and safe living environment. And I bet that if thousands of students have successfully navigated this before you, you can do it, too!Here are our tips for living with your first college roommate!

Social Security (SS), Supplemental Security Income (SSI), and Social Security Disability Benefits (SSDI) are three federal benefit programs that can provide income to Americans who aren't able to work. SS, SSI, and SDI are all are managed by the Social Security Administration.Each of these programs, however, have different purposes and eligibility requirements. However, when it comes to taxes and financial aid, it can be confusing to understand how each work. For example, do you need to include SSDI benefits received on the FAFSA?But how exactly do these programs work? And how do they play into your tax bill? In this article, we'll look at each one and their impact on your paycheck, taxes, and FAFSA.

A common question we see every year is "can you take out more student loan debt than you need?" It sounds crazy, but some people want to take advantage of the low fixed costs and loan forgiveness options than may come in the future.With the rising costs of tuition, fees, and college living expenses have made financing a college education increasingly difficult.The fact remains that most of us will apply for student loans at some point in life. And while loans provide essential financial support at an important time, they come with significant responsibility and long-term implications.So how much do you really need? And how much should you accept? Making informed financial decisions now can truly set yourself up for success later, and student loans are a great example of this. So read on to start building good financial habits!

With college becoming more expensive, how can parents afford to send a kid to school?More than a decade after completing college, 7% of Millennials still have more than $50,000 in student loan balances. Facing our reality of digging out of debt and knowing our friends' horror stories, many millennials are motivated to help their kids get through college debt-free. While we can't promise that you'll be able to help your child avoid debt, we've got realistic tips to cover the cost of college from the day your child is born to after they graduate.

Property taxes are typically your largest homeownership expense after paying your mortgage. Any way to save on your property taxes can be a big win for your budget!Homeownership can be a true joy. The thought of holding your very own keys in your hands and being able to point and say “That's my house”.That's until it's time to pay property taxes. The average property tax in California is $4,694 per year whereas in places like New Jersey and Connecticut, it ranges from $6,400-$9,300 per year. This is undoubtedly not one of the joys of home ownership.Now of course, we all want to be great citizens and do our due diligence to help with infrastructure and projects that benefit our communities. However, there is no reason to be overpaying your property taxes.There are ways to legally reduce your property tax bill - let's dive in.

Bad credit can limit your ability to do a lot of things, including purchasing a car, home, getting a credit card, and in some cases, even a job. Being creditworthy certainly has its advantages.If you don't have good credit, there are steps you can take to fix it. The process is called credit repair. You can do it by yourself or have someone help you, for a fee of course.We break down your options here!

The PSLF Buyback Program allows you to "buy" missing payments that would have allowed you to qualify for loan forgiveness.To qualify for the Public Student Loan Forgiveness, you must have 120 months of qualifying payments made while employed in a qualifying public service job. Here's what you need to know.

Around 80% of mortgage borrowers in the United States have an escrow or impound account. In fact, these accounts are required by some lenders.These accounts hold money on behalf of the buyer to ensure certain payments are made on time - typically homeowners insurance and property taxes. This can help reduce liability and risk lenders take on, giving buyers access to better financing options.What is an escrow or impound account? Is it required? More importantly, how do you cancel an escrow or impound account if you don't actually need it? This article will dive into all of those questions to help you figure out whether or not an escrow account is a good move for you.

When you think of financial scams, you may think of Bernie Madoff and Nigerian Princes. But if you listen to enough “financial experts” on YouTube and TikTok, you may hear that the humble 401(k) is a scam.A 401(k) is a tax-advantaged retirement investment account offered by many employers. It's an account so basic that it may be a victim of its own success. Has the 401(k) scammed aspiring retirees out of their hard-earned money? We don't think so, but we will explain why the account is being so harshly maligned.

Choosing the right school for you can be difficult. Not only does the decision come while you're still fairly young, but it can also be heavily influenced by external factors that end up not aligning with what you want. Take it from someone who's been there.In fact, about one-third of college students transfer schools at some point before finishing their degree. And total transfers represented over 13% of all continuing and returning undergraduates last year.This article walks through the top reasons students choose to transfer, how to identify when the time is right, and what to do to set yourself up for success at a new school.

The tax deadline is almost here! Here are some last minute tax reminders if you're still working on filing your taxes.Although it might not be the most enjoyable financial task, it's a necessary obligation that we each undertake every year. And if you use great tax software, filing taxes doesn't take as much time as you may dread.But tax filing time isn't only about filing returns. There are things you can do today to help you save money on your tax bill, and help you save time on filing.Here are the best last-minute tax tips to consider this season.

The short answer is no, you cannot use a 529 plan to pay for SAT prep. However, all is not lost. While SAT prep courses can be expensive, they don't have to be. There are affordable options to help you prepare for the SAT. Here's what you need to know