On September 3rd, Craig Bolanos joined the Business First AM show with Angela Miles to discuss the enormous number of parents caught in a college cash-crunch and how to get out. Craig explained that parents are over $89 billion in student loan debt and that this crisis can prevent people from retiring. He encourages parents to educate their children to keep their GPA’s and test scores up so they may qualify for scholarships that can help pay for college. Angela also asked him about the two-by-two strategy, and Craig responded that community college is a great, low-cost way to get general studies credits. He also advised parents to select loans intelligently – both student loans, and parent loans. (Click Image To View)
*This is for general information only and is not intended to provide specific advice or recommendations for any individual. Prior to investing in a 529 Plan investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.