Most college students graduate with a student loan debt. There are, however, several ways of reducing the debt burden.

 

 

As education gets costlier, student loan debt continues to rise every year. Studies suggest that nearly half the number of college graduates is burdened with student loans, and the average student loan debt is to the tune of $10,000. To handle his/her college expenditure, a student can choose from various aid options, such as scholarships, federal or private loans, grants etc. According to College Board estimates, while a public school can cost a student about $13,000 a year, the annual cost in a private school is much higher at about $28,000. It forces students to seek loans from federal or private sources, and they have to start repaying the student loan debt after completing their graduation. Read More »

The main objective of a student when he/she enters college is to work single-mindedly for landing a suitable, well paying job. But as college tuition gets costlier, and government loans set borrowing limits higher – it is becoming increasingly difficult for students to pay off their college debt and even begin to shape their future. The amount of college debt is going higher and higher and more and more students are now finding themselves in a hole. And the situation, as only to be expected, is much worse for poorer students.

 

 

The average amount that an undergraduate student is likely to borrow is to the tune of $19,300. The amount was only $12,100 ten years ago. It is not that students from rich families never run into college debt to meet their education expenses, but it is always the poorer students who bear the brunt of the proble ... Read More »

Parents cannot start too early to train their children in the skills of financial and money management. Here are the essentials for kids.

 

Kids certainly learn by being taught, both by parent and teachers, the necessary content and skills to be “educated.” Financial and money management, until recent times, has not been taught in schools, and children have relied upon their parents to grasp and master the skills of financial responsibility so necessary to productive adulthood. What educational research clearly shows, moreover, is that young children learn by watching their parents’ behaviors, not necessarily by the words coming from those parents. Further, learning is cemented by hands-on activity, that is, actually participating in the learning actively. The resu ... Read More »

Reverse mortgages are a strong tool with the help of which a house-owner can secure a cash flow without incurring any tax.

 

 

Reverse mortgage differs from what we call traditional or ‘forward’ mortgage in a number of ways. Unlike the traditional ones, reverse mortgages do not require you to have a steady income. What is of utmost importance in reverse mortgages is that the house must be owned by you. If you are the owner of a house, reverse mortgages will enable you to access the money you have built up as equity in your house. Reverse mortgages are extremely useful during the later part of their lives for old, retired people who own a house.

 

 

In order to ... Read More »