education
Consolidation loans are
no longer profitable for Sallie Mae, so it's saying goodbye to them. SmartMoney points out that ultimately this shouldn't matter for students taking out new loans, since the original point of consolidation—converting lots of variable rate loans into a nice predictable fixed rate loan—is no longer relevant (all federal student loans are now disbursed with fixed interest rates.) SmartMoney says if you still have variable rate loans you need/want to consolidate, check out the
government's consolidation offering—"You're likely to pay the same consolidation rates you'd pay if you did so with Sallie Mae," they write.
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tuition
Want a college education but don't want to go into debt over it? If your interests happen to coincide with the specific curricula at
certain "tuition-free" schools, you might actually be able to get away with it. "There are only a handful of such schools in the U.S., which is one reason they are often overlooked by students, parents, and high school guidance counselors during the college search," says a senior policy analyst at the College Board.
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but they're worth it
It's Saturday morning, also known as Kids Run Wild Day, when you begin your weekly 48-hour endurance challenge and dream of the relative peace that will come on Monday when you return to work. But what if your kid isn't school age yet? Preschool "tuition" can be more expensive than a well-groomed drug habit, all but guaranteeing poverty until you can ship the tyke off to kindergarten. SmartMoney notes that on average, preschool tuition now runs $7,000 per year, and
they offer a few alternatives for the cash-strapped owner of a 3-year-old.
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saving
Bankrate has c
omprehensive state-by-state map of 529 college savings plans. In case you're not familiar, a 529 plan is a "tax-advantaged" savings plan that is designed to encourage people to start saving for college tuition. From the SEC:
There are two types of 529 plans: pre-paid tuition plans and college savings plans. All fifty states and the District of Columbia sponsor at least one type of 529 plan. In addition, a group of private colleges and universities sponsor a pre-paid tuition plan.
You can learn more about 529 plans at the Security & Exchange commission's website, and compare them at Bankrate.com. Keep in mind: Not all 529 plans are the same, some are
better investments than others.
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tuition
Some state colleges and universities have started charging different undergraduate tuition rates depending on what the student decides to major in. Business majors at the University of Wisconsin pay $500 more each semester than do their liberal arts peers. Graduate schools have been doing this for years: Law school and med school tuition tends to be more per term than, say, an advanced degree in comparative literature. But is it fair?
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Consumerist
college
financial aid
