How Today’s Typical Family Pays for College


The way families pay for school truly indicates the depth of their planning…

Ironically, according to a Sallie Mae study, while families feel confident in their planning, nearly 40 percent have no plan in place.

Talk about rainbows and unicorns!!

According to Sallie Mae and Ipsos, an independent global market research company, the cost is covered, as follows:

• 47% is funded through family income and savings (even as they family services a load of other debt);
• 28% is funded through scholarships and grants;
• 2% is funded by extended family and friends; and,
• 24% is funded through parent and student school loans.

Basically, 70% of the cost of an education is funded through current or future income.

53% of the families surveyed borrowed money, with two-thirds having expected to borrow. Bring up repayment and almost 40 percent of families haven’t considered repayment.

Experts say that, with the right tools and knowledge, families can develop a smart strategy for paying for college.

We are here to assist your family with designing and implementing its college funding campaign, not with just the savings aspect, but also with the loan repayment aspect.

We are waiting to hear from you…


Senior Citizens, School Debt, and Retirement

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More seniors than ever before enter retirement with school debt.

The cost of an education can last a lifetime.

More than 2.8 million Americans over age 60 service some amount of school debt. In 2018, in just fourteen years, school debt held by Americans over age 50 increased from $36 billion to more than $260 billion (Federal Reserve statistic).

Much of this school debt is not debt incurred for their own education. Rather, it has been incurred on behalf of their child or grandchild.

School loan debt is the only debt in the country that cannot be discharged through bankruptcy. Bankruptcy is not an option.

What can be done?

We have a program that, when properly designed, can get the typical American or American family completely out of debt, including school loans and mortgages, in nine years or less.

There’s a good chance we can help you and/or your family too. We’re just waiting to hear from you.

Start Saving for College Today

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When’s the best time to start saving for the cost of your child’s college education?

The correct response is…


Anecdotally, we like to say at conception (perhaps, even prior to that).

Absent a properly designed college funding campaign, a family can be rudely shocked at what awaits.

As the cost rises, students (and parents) plunge into debt that may take decades to repay. And, when factoring in inflation, education can cost two or more times the current price when a preschooler graduates from high school.

Avert the financial crisis – start saving now!

When considering the cost your family faces, it’s never too early to start. In fact, the earlier, the better.

But, don’t just throw your money in a savings account, money market account, or a CD. The rate of return won’t get you to your goal.

Don’t set up a 529 Plan. Sure, it’s the flavor of the month, even the year, yet even the marketing materials tell you it’s an investment.

What about equity funds, bond funds, fixed income funds, etc.? They’re all investments. And, investments can be lost.

In the end, when developing a college funding campaign, it’s about creating a long-term, practical strategy. It’s about clear goals and guarantees.

We’re here to assist your family in designing and implementing its college funding campaign.

We’re waiting for your call…


Facing Retirement with Student Loans

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More than $18.2 billion in student loan debt is held by Americans aged 65 and older. As baby boomers continue to retire by the thousands, that number will continue to rise.

Those in retirement with school debt and those approaching retirement with school debt likely did not borrow the money for their own education. Rather, they took out or co-signed loans for a child or grandchild.

Quite often, people don’t realize that co-signing places repayment responsibility on them when the person for whom the loan was taken fails to pay.

And it’s awkward pressuring a family member, especially if they don’t have the resources to make payments.

Unfortunately, school debt usually survives bankruptcy, placing seniors at great financial risk and a host of negative consequences. Those negative consequences include, but are not limited to, the following:

• Seniors with school debt may be forced to work longer before retirement, perhaps even part-time in retirement in order to meet everyday expenses.

• Seniors with school debt may have stopped saving for retirement in order to make debt payments. They even may have borrowed from their current retirement plan to pay down debt.

• Seniors with school debt may refrain from seeking needed health care for lack of funds.

• Seniors with school debt may be unable to obtain loans to make needed repairs, purchase a vehicle, or deal with other expenses.

• Seniors with school debt maybe unable to help other family members in need, even though that school debt arose from helping a child or grandchild further an education.

In fact, approximately 200,000 retirees currently have their Social Security income garnished in order to satisfy defaults on school debt.

There are steps you can take to address when school debt is part of the financial picture, as well as long before it becomes part of the picture.

Contact us for more information on what you can do to address the above long before any of it occurs.

We are waiting to hear from you…


Start Saving before the Birth of Your Child

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Back in the day, the purchase of a home was the largest expense parents faced. If you have one child, that may still be the case. More than one? Not so much.

Since it’s likely the expense of an undergraduate education will be the single greatest expense borne by parents, when should they begin to save?

For humor’s sake, we often say savings should begin at conception! In reality, we’re not far off.

Savings should begin before birth. Starting to save then allows time for savings to grow and earnings to compound.

So, where should a parent save?

The flavor of the day is the 529 Plan.

For specific family financial situations, it may be the correct choice, as funds can grow tax-free and, if used for qualified educational expenses, earnings typically are not taxed when used. However, a 529 Plan is not a savings vehicle. Rather, it is an investment vehicle.

Our rule of thumb – if money is subject to market fluctuation and can be lost, it’s not truly being saved. Even the materials provided by custodians about their 529 Plans discuss investment options.

If you’re interested in truly saving your money, having it earn compound interest, protecting it against loss, and being able to access it for educational expenses or any other expense you may have without penalty, we can help.

We are waiting to hear from you.