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It’s June – a time for graduation and preparation for the next phase of education. Recently, you may have seen news articles questioning the value of higher education. Many of us still believe that the benefits outweigh the costs. However, the prospect of paying for college can be daunting. Please download the June 2014 edition of the LuminaFi Report to learn more about issues related to financing higher education.

  1. Tips for Funding College Expenses: Second only to mortgage debt, student loans now represent one of the largest liabilities to American households. This article presents tips for financing educational expenses and provides links to resources for 529 savings plans and the Federal Student Aid website. Contact me if you would like a copy of chart that summarizes various savings options and tax credits for college.
  1. Personal Finance Tips for New Graduates:  You’ve marched along to Pomp and Circumstance and collected your diploma–now you are ready to finally head out on your own.
  2. Financial Choices: College, Retirement, or Both?: It’s the paramount financial conflict many families face, especially as more couples start having children later in life. Should you save for college or retirement? The pressure is fierce on both sides.
  3. How much money should a student borrow for college?:  There’s no magic formula to determine how much you or your child should borrow to pay for college. That being said, there is such a thing as borrowing too much.
  4. Chart: Student Loan Balances, Q4 2012:  Student loan debt is the only type of household debt that continued to rise through the Great Recession.

June Newsletter 2014

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