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6 Easy Steps to Get Your FAFSA in Order
Tweet Share on Facebook April 30, 2013 CommentEach year, the U.S. Department of Education awards approximately $150 billion in grants, work-study funds and low-interest loans to millions of students. To be considered for most forms of financial aid, students looking to get help paying for college must fill out the Free Application for Federal Student Aid. Deadlines for each state and each college vary (some have already passed), but June 30—one of the last federal deadlines—is approaching.
If you have not yet completed your FAFSA, here are a few tips to save you time and hassle and ensure you put yourself in the best position to get financial aid for college:
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Consider a Public Ivy School if You Want a Strong, Affordable Education
Tweet Share on Facebook April 30, 2013 CommentThe term “Public Ivy” cropped up in 1985 with Richard Moll’s book “Public Ivies: A Guide to America’s Best Public Undergraduate Colleges and Universities.” Many of these selective, high-performing schools can compete with the famed private Ivy League colleges like Yale and Harvard, but offer a more affordable education.
High-performing students looking for a top-notch education—without shelling out tens of thousands of dollars—would do well to check out the country’s public Ivy League schools. While getting into a Public Ivy can be tough, getting a good education at a more reasonable price could be a high school graduate’s best option.
However, it’s important to note that there are varying opinions among experts as to which schools should be considered a top Public Ivy. The idea of a strong Public Ivy doesn’t just include high-performing academics but also encompasses a rich history, attractive campus and diverse student population that you’d expect from the ivied halls of a Yale or a Harvard.
These factors are worth considering before deciding whether a Public Ivy is right for you:
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5 Critical Budgeting Mistakes to Avoid
Tweet Share on Facebook April 29, 2013 CommentWhile there’s no simple formula for creating a household budget, there are some basic guidelines you can follow to maintain a realistic and accurate monthly spending plan. If you’re tired of worrying about money—or just can’t seem to meet your savings goals—you’ll want to design a budget that accommodates your lifestyle. Avoiding these common budgeting mistakes will make it easier to keep your finances in check and stress less about money matters each month:
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Save Big With These DIY Home Improvements
Tweet Share on Facebook April 26, 2013 CommentSummer brings out the home contractors, including painters, roofers and window installers. In 2010 and 2011, Americans spent approximately $359 billion on improving their homes, according to the U.S. Census Bureau. That’s a median expenditure of $3,200 per household.
For individual homeowners, remodeling and home improvement costs can add up quickly. For example, the average national cost of a minor kitchen remodel is approximately $18,500, according to Remodeling magazine's 2013 annual cost vs. value report. One way to keep costs down is to do the improvements on your own. Take a look at what DIY projects yield the greatest savings.
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Is Your Car Worth Repairing?
Tweet Share on Facebook April 25, 2013 CommentThe average age of a car in America reached an all-time high this year of 10.8 years, according to a study by Polk, an automotive information and marketing firm. That means a lot of us will be facing needed repairs.
When that happens, some of us will be tempted to decide our car is not worth repairing and we should find a new ride. But is that true?
Let's look at these questions to ask yourself before you decide whether your car is worth keeping:
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Savings Opportunities Abound in Current Credit Card Landscape
Tweet Share on Facebook April 25, 2013 CommentIf there’s one thing we can learn from the current state of the credit card market, it’s that having excellent credit pays. Heightened post-recession competition for the most responsible and economically-resilient consumers has spurred the rise of lucrative zero percent financing deals and initial rewards bonuses, while putting downward pressure on the ongoing interest rates offered to people with top-tier credit histories, according to the latest CardHub Landscape Report.
Savvy, established credit users therefore have the opportunity to save hundreds of dollars via bypassed finance charges and expense subsidies, while everyone else has a clear chance of maximizing their credit standing.
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6 Easy Ways to Lower Your Summer Cooling Bills
Tweet Share on Facebook April 24, 2013 CommentSummer is almost here and the pending warm weather will soon have us nervous to open our utility bills. But since we are in April, there is still time to position yourself for lower cooling bills during the hot months ahead. Consider these tips to stay cool without blowing your budget:
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Why a $1 Savings Account Makes a Child More Likely to Attend College
Tweet Share on Facebook April 24, 2013 CommentI was assured that I’d qualify for student loans by my parents. I was assured by the financial aid office that I’d qualify for student loans. Since loans were inevitable, I decided there wasn’t much point in saving for college. After applying for government-issued student loans, you know what happened? I qualified and was able to find plenty of student-loan resources to pay for my college education.
Not everyone receives enough financial aid to attend college. However, studies have shown that a majority of college students have found easy access to needed college loans, and a large number of students do, in fact, rely on this type of financial support to complete their degree. With the vast number of student loans young adults rely on, you can’t help but wonder if saving for college is important.
With mounting student-loan debt across the country, it is a crucial question that has far-reaching implications for parents and high school students. A recent article written by the Assets and Education Initiative at the University of Kansas and published at the St. Louis Fed might have a potential answer, as preliminary evidence finds college savings are far more beneficial than student loans.
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What Bank Branch Closures Mean for Consumers
Tweet Share on Facebook April 23, 2013 CommentThe traditional notion of banking, in which customers visit their local branch to deposit money, check their balance or take out a loan, may no longer be the reality. In the past year, American banks shuttered more than 2,000 branch locations—and news of additional closings appears on a regular basis. Banks cite rising operation costs and shifts in consumer-banking behaviors as primary causes for reducing the number of branches.
For banks, these decisions are a matter of improving their bottom line, but for customers, these closings may force them to develop new habits. In one way or another, most people are likely to notice a change in how they interact with their bank.
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5 Reasons to Shop at a Credit Union for Car Loans
Tweet Share on Facebook April 22, 2013 CommentWhen you’re in the market for a new or used car, you’re probably thinking about financing the vehicle. While dealerships make their own financing programs sound especially attractive, it’s always a good idea to shop around for the best auto loan rates—starting with local credit unions.
Mike Schenk, vice president of economics and statistics of the Credit Union National Association, says there are several reasons why you’ll be better off choosing a credit union over a commercial bank. Here are five of them:
