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Financial Aid Tips & Strategies

The 2022-2023 academic year is quickly approaching. Do you have the legal documents in place to help support your child? This blog is a collection of important tips from Frontier Wealth Management on which documents to have and why. Below are the top three documents to have handy for your student from Frontier Wealth Management and Clark.com. Click here to read Frontier Article. Click here to read Clark.com Article. A HIPAA Release Form — This document will allow healthcare providers

College Savings Guide

Taking steps now to save for you or your child’s education is one of the wisest financial decisions you can make to help support a bright future. This blog covers important information from Capital Group – American Funds about college savings accounts and strategies that will guide you.  What are the benefits of starting a 529 savings plan? Tax advantages – Tax-advantaged treatment applies to savings used for qualified education expenses. State tax treatment varies. Flexibility – You (the account owner), rather than the beneficiary,

529 Lesson Plan: High Scores for 529 Plans

Looking for a tax-advantaged college savings vehicle that has no age restrictions and no income phaseout limits – and one you can use to pay for more than just tuition? Consider 529 savings plans, a popular way to save for higher-education expenses. Named after the section of the tax code that authorized them, 529 plans (also known as qualified tuition plans) are now offered in almost every state. You may find that 529 plans make saving for college easier than

How do the economic milestones of young adults today compare with prior generations?

If you’re the parent of a young adult who is still living at home, you might be wondering whether this situation is commonplace. According to a recent U.S. Census Bureau study, it is: One in three young people (ages 18 to 34) lived in their parents’ home in 2015. The Census Bureau study examines how the economic and demographic characteristics of young adults have changed from 1975 to 2016. In 1975, for example, less than one-fourth of young adults (ages 25

How much money should a family borrow for college?

There is no magic formula to determine how much you or your child should borrow to pay for college. But there is such a thing as borrowing too much. How much is too much? Well, one guideline for students is to borrow no more than their expected first-year starting salary after college, which, in turn, depends on a student’s particular major and job prospects. But this guideline is simply that — a guideline. Just as many homeowners got burned by taking

To Save or Not to Save – for College

college fund

Saving for a child’s college education is an emotional topic, on many levels.  I have had many discussions regarding saving for children’s or grandchildren’s educations over the years and what I have learned is that there is no “right” answer for everyone. Most of us would agree that we want the best in life for our children. We want them to have a happy childhood, go to a good school, be accepted at a college of their choosing and have a