Wondering which students and families actually get merit-based scholarships and grants at private colleges? We have the data. Parents of college-bound children who are considering high-cost private non-profit colleges often wonder how to qualify for institutional financial aid. These grants and scholarships may or may not really be based on merit, but rather function as a discount on the cost of attendance. Students who want to increase their chances of receiving an institutional merit grant at ...
Jun 25, 2025•10 min
When your student loans are discharged due to disability , you may be limited in whether you can work or go to school for a period of time. Otherwise, your student loans may be reinstated. This can be an especially difficult issue to navigate if your loans are discharged while you're attending school, or plan to. And it can happen even if you never planned on asking for a disability discharge. Here's what to know about disability discharge, and how to navigate your choices if your loans are auto...
Jun 20, 2025•13 min
Student loan forgiveness applies to a variety of degrees, even trade schools. So even if you went to a trade school, vocational school, or apprenticeship program, you could be eligible to get your student loans forgiven. If you attended school for HVAC repair, cosmetology, the culinary arts, or any other trade program, your student loans could qualify for one of these student loan forgiveness programs. We cover the factors that make trade school student loans unique, and how you can figure out w...
May 31, 2025•7 min
Paying for college isn’t just about covering tuition. It’s about understanding what happens when life takes a turn and what protections exist if it does. Each year, families across the country commit thousands of dollars toward college without fully understanding the terms behind the payment. If a student gets sick or has to take a leave during the semester, even for a serious medical reason, many schools don’t refund tuition. Housing and fees can be nonrefundable. Grants may be forfeited. And s...
May 29, 2025•10 min•Season 1Ep. 87
After years of payments, pauses, and paperwork, many public service workers are confused on what payments and time periods may count for Public Service Loan Forgiveness (PSLF) . However, there are also more options to have qualifying periods count - thanks to the PSLF buyback program. If you've been stuck in the SAVE forbearance , served in the military, or paused your payments for economic hardship, you might be closer to loan forgiveness than you think. But there’s a catch: the buyback program...
May 19, 2025•8 min•Season 1Ep. 86
College move-in day is filled with excitement, but new students often learn quickly that shared living spaces come with unexpected risks. And if you’re not careful, even small accidents can be expensive. From laptop spills to missing laundry, a range of common mishaps can cause financial stress. In partnership with GradGuard , we’re going to highlight the most common dorm disasters you can face. GradGuard Renters Insurance Plan can help you manage the financial aspect of these disasters and you ...
May 14, 2025•8 min•Season 1Ep. 85
Robert was on MoneyLife with Chuck Jaffe this week talking about the current status of student loans. Tune in to hear Robert's thoughts on what's going on with student loans today.
May 13, 2025•11 min•Season 1Ep. 84
Income-Driven Repayment (IDR) plans provide affordable monthly student loan payments by basing the payments on a portion of the borrower’s discretionary income, as opposed to the amount they owe. Generally, IDR plans will yield lower student loan payments when the borrower’s total student loan debt exceeds their annual income. However, there are ways to decrease the student loan payments even further. Monthly student loan payments under IDR plans are based on a percentage of discretionary income...
May 12, 2025•10 min•Season 1Ep. 85
Many families assume that once a student accepts admission to a college, the financial aid offer is final. In most cases, that’s true. Schools often budget tightly and expect students to commit based on the information already provided. But there are exceptions. Appealing a financial aid award after committing to a school is uncommon, but not impossible. In some cases, families report success in securing more need-based or merit-based aid even after housing contracts are signed and roommates are...
May 07, 2025•6 min•Season 1Ep. 83
The latest reconciliation bill set for review in the House Committee on Education and the Workforce proposes some of the most extensive changes to higher education funding and student loans in decades. This is the papered proposal, it's NOT law yet. If enacted, the legislation would limit federal borrowing, end Parent PLUS loans , change repayment options, and reshape Pell Grant eligibility . The changes would primarily affect new borrowers taking out loans after July 1, 2026, but some changes t...
Apr 29, 2025•15 min•Season 1Ep. 82
Student loan debt is not fun to have. While it may have been necessary to pay for school, now that you’re graduated, it’s time to think about ways to pay off your student loans faster. If you’re looking at your repayment plan options - even the shortest term is usually around 10 years. That can seem like forever! At the same time, looking at these long time frames could also motivate you to see what you can do to get out of student loan debt fast. Luckily, there are a lot of ways to get out of s...
Apr 24, 2025•14 min•Season 1Ep. 81
As families juggle decisions about housing, orientation dates, and class schedules, one area that often gets overlooked is life skills . The transition from high school to college is one of the biggest changes a teenager will face. And while some schools may offer a session study habits, far fewer address what it takes to function day to day. The cost of not being prepared can be high. Students who don’t learn how to manage stress or money early may be more likely to drop out or take longer to f...
Apr 23, 2025•12 min
With the stock market fluctuating and new tariffs raising concerns about family finances, some families are re-thinking the college decision (at least in the short term). While it might not be off the table, taking a gap year or deferring enrollment is an option for some. But what happens to financial aid if my child takes a gap year? While taking time off before starting college has its benefits, it can also come with consequences. Financial aid is not automatically frozen or held for a year. D...
Apr 21, 2025•8 min
For high school seniors navigating college admissions , few emails inspire more confusion than a notice of being "deferred" or "waitlisted." While neither outcome is final, each comes with distinct meaning, timeline, and next steps. Being deferred means your early application wasn’t denied, but it wasn’t accepted either. Instead, the admissions committee will evaluate your application again during the regular decision round, alongside new applicants. This delay gives the college time to compare ...
Apr 09, 2025•5 min
Have you heard the phrase "Sell In May And Go Away"? There are many weird stock market indicators that pundits try to use to explain what you should be doing in the stock market at any given time. There seems to be many ideas that people will suggest to determine your investing strategy including the January-effect, the presidential cycle, which team wins the Super Bowl, and how well stocks will fare. Over time, the of the stock market are hard to beat, and timing the market is not something tha...
Apr 09, 2025•6 min
Today's episode is an interview Robert had with Jack Wang from the Smart College Buyer podcast. He talks about how to think about college costs, making smart student loan decisions, and how to have open and honest conversations with your family about money and education. We hope you enjoy the episode. If you want to learn more about the Smart College Buyer podcast , check it out on your favorite podcast platform....
Apr 07, 2025•28 min
President Trump generally does not support student loan forgiveness and would likely seek an end to some student loan forgiveness programs. But can the President claw back student loan forgiveness that has already been granted? It's sparked a lot of concern in recent weeks, especially as President Biden has continued to propose new student loan forgiveness plans and already has set a record during his presidency for the most student loan forgiven. As of November 2024, President Biden has provide...
Apr 06, 2025•13 min
There is no "one size fits all" when it comes to the best investment strategy. But it's one of the questions I receive almost everyday. From what do I invest in, to how to get started investing, to picking individual stocks, everyone is looking for a magic investment strategy that will make them millionaires overnight. The truth is that doesn't happen. You invest in stocks because over the long run, investing in the stock market has outperformed other investments. But that doesn't mean you shoul...
Apr 04, 2025•12 min
There are multiple ways to invest in real estate. And believe it our not, 90% of the world's millionaires have created wealth through real estate. At least that's what Andrew Carnegie said at the turn of the century. Maybe you love investing, and at this point nearly all of your money is in the stock market. You know it’s important to diversify, but aren’t sure if real estate investing is right for you. You might think it requires a lot of money up front, or requires a lot of work ongoing. And w...
Apr 04, 2025•11 min
With the stock market down almost 10% this year, more and more investors are looking for alternative investments outside of stocks and bonds. Diversifying an investment portfolio means not putting all your investment dollars into the same asset. Some people view a few dozen individual stocks as a diverse investment portfolio. Others want to buy broad-based index funds that represent entire stock markets. And others want bonds, stocks, and cash to keep their portfolio from having too much volatil...
Mar 31, 2025•11 min
Audit protection is a service most tax preparation companies advertise as an upsell to help you if you get a notice from the IRS. These services can involve responding to IRS letters, representing you when speaking with the IRS, or even reimbursing you if the tax prep company made a mistake. I hate dealing with bureaucrats. The thought of spending time in line at the DMV is so repulsive that I tried to pay someone to wait in line for me (the person didn’t show up, so I eventually had to go). If ...
Mar 30, 2025•8 min
While a Roth IRA is one of the best ways to save for retirement, it can also be used to save for college. A Roth IRA is one of the best ways to invest for retirement, since the money inside it grows tax-free and in most cases, withdrawals for retirement come without any tax consequences. It can be an especially great way to save for retirement when you're young and your income is relatively low. If you're in a low tax bracket, getting a tax deduction (like for 401(k) or Traditional IRA contribut...
Mar 29, 2025•11 min
Eligibility for need-based financial aid depends on the student’s demonstrated financial need. Structured settlements can change how a student's financial aid is evaluated . Financial need is the difference between the college’s annual Cost of Attendance (COA) and the student’s Student Aid Index (SAI). In some cases, a structured settlement can be used to shelter settlement money from student financial aid formulas. But ultimately the timing of the payments will determine how structured settleme...
Mar 27, 2025•16 min
Would you rather have a penny that doubles each day for a month or 1 million dollars? I saw this question the other day, and it reminded me of one of my favorite stories from high school math (yes, that's pretty nerdy, but this is a personal finance blog). So, before I tell the story, think about it: If a genie appeared and gave you a choice, what you would choose: would you rather have a penny today, that doubled everyday for a month, or $1 million today? The fact is, a lot of people get caught...
Mar 21, 2025•10 min
If your financial aid package falls short of your need, you can ask the college for more financial aid by sending them a financial aid appeal letter. A financial aid appeal is not like a negotiation. It is not like bargaining for a lower price on a car at the car dealership. Most students lack leverage to get the college to throw out its financial aid rulebook. Good grades and test scores, and strong extracurriculars may get a student into a college, but aren’t enough to earn the student a full ...
Mar 18, 2025•15 min
Financial aid can provide students with access to educational options they may not have otherwise had. But sometimes, students are denied additional financial aid, even after making an appeal. If you appealed for additional financial aid , but your appeal was denied, you still have a few options. In this article, we'll let you know what steps you can take to try and secure more financial aid. We'll also provide you with some alternative places to look for money....
Mar 14, 2025•12 min
It's a common myth that student loans cannot be discharged in bankruptcy . However, the U.S. Department of Education has the legal authority to allow a borrower’s federal student loans to be discharged in bankruptcy, in certain circumstances. It has not, however, generally exercised this authority. Instead, it often opposes undue hardship petitions. The general reasoning is that the availability of income-driven repayment plans provides sufficient financial relief for borrowers who face severe e...
Mar 11, 2025•23 min
A Health Savings Account, or HSA, is arguably the best tax-advantaged account available in the United States. Contributions and qualified withdrawals are tax-free, which makes an HSA perhaps the only way you can earn, invest, and spend without paying taxes. While we don’t usually like to think about it, we’re all going to die someday. Money-savvy folks want to know what happens to their HSAs when they die. Here’s an in-depth look at what happens so you know how to include your HSA in your estate...
Feb 26, 2025•9 min
I thought it would be interesting to look at some of the best investors in modern time. These are all individuals who made significant amounts of money by sticking to solid investment philosophies. If you look at their strategies as well, they aren't very difficult or complex - they stick to basic financials of a company and look for value. If they believe there is value, they invest, and make tidy profits! Some of these names may be very familiar, but others you might not know about! There's no...
Feb 25, 2025•14 min
For families saving for education expenses, 529 plans remain one of the most flexible and long-lasting options available. Unlike other college savings accounts or financial aid programs, 529 plans do not have time or age limits for contributions or withdrawals. However, some states do have different rules that may impact your 529 plan contribution or withdrawal decisions. Remember, since 529 plans are state-based, each state can create their own rules, regardless of what the federal rules say....
Feb 24, 2025•6 min
