College

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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