Reminder: IF YOU HAVE COLLEGE KIDS GET A MEDICAL POWER OF ATTORNEY IN PLACE NOW, INCLUDING ACCESS TO THEIR MEDICAL RECORDS NOW!!! IF THE BECOME SICK AND HOSPITALIZED YOU COULD BE KEPT DATA BLIND AND UNABLE TO STOP HOSPITAL ADMINISTRATION OF CLOT SHOTS WHICH ARE ROUTINE!!!
"I now carry full-time. My grandchildren carry. My wife carries. Every single ranch worker carries. It is life living on the ranch of the Mexico border today.
More punishing of the middle class backbone of America (see a pattern yet?)
Rewarding Bad Credit Is Dangerous
A new rule went into force on May 1: Borrowers with lower credit will get access to better mortgage rates. The catch: People with good credit will pay for it.
The answer is to roll back govt guarantees to lenders. Once that happens, lending will be based on avoiding inability to pay back, eliminating the approvals for no value degrees/education, which will shrink revenues which will shrink overhead costsfor administration. Then competition will fix the pricing.
Sounds like a good step forward in winding down this abusive program. The debt load is incomprehensible to kids that age, and the degrees many of them get are worthless - and I’m not even talking about the “studies” degrees.
Plus, I know someone who got the Covid shots because she couldn’t get fired, and she couldn’t get fired because she wanted kids and there was no way to do it without working in her specialized field which allowed her to make the payments.
DO YOU HAVE A HIGHSCHOOL SOPHOMORE (2022-2023) heading for #college? THIS is the time to maximize your financial aid which will be determined by EFC (expected family contribution) calculated by your input on the FAFSA form in OCTOBER of next year! Don't wait until they are a senior next year as the base year you need to optimize is right now, 2022!!
Parents are often surprised that many of the inputs are under their control, but only if they act early, as in NOW. College Aid is game you need to win, and it's not set in stone. Your actions now, before filing can have a giant impact. This is ESPECIALLY important if you think you "make too much" to qualify for student aid, as many parents mistakenly think it's not worth trying. Truth is, in many schools including top Ivy League's, the majority of students get some kind of aid, and a surprising portion of that hinges on what parent's did or didn't do to plan in advance.
A FEW OF THE KEY ASPECTS that can be planned, modelled and optimized in order to MAXIMIZE your aid and MINIMIZE what you pay, or the debt the young person you're trying to launch is saddled with:
1) Do you have assets saved in the CHILDS NAME? They can reduce aid 50 cents for every dollar saved. You need to analyze and likely modify this ASAP. It's simple, but absolutely critical. Student assets carry more weight on the #FAFSA. It can make sense to move a student's assets to a parent's or grandparent's so the #EFC isn't affected. There are many perfectly legal changes you can make and still answer the FAFSA 100% honestly.
(*not individual tax or investment advice. Always consult your CPA and trusted Financial Advisor before making any move*)
2) Do you have parental INCOME that can be deferred, optimized (think timing of long and short term capital gains from your non-ira investments)? If you own your own business, can you defer income to next year?
Keep in mind that a parent's 401k or other tax-favored account is sheltered from the EFC needs analysis process, BUT if a parent withdraws his or her 401k to pay for college, it will be removed from its shelter and it will become INCOME that increases your EFC. You may want to wait for the last base year calculation when your student is a college Sophomore. It may even make sense to borrow via home equity and pay it off later with that #401k withdrawal or loan, although each option comes with it's own considerations and potential pitfalls. Everything can be planned and modelled, but few parents actually do this!
3) Have you maximized household "size"? If a sibling or an adult dependent (such as as a grandparent or aunt) is considering moving out but they're not sure, it may make sense to ask if they'd consider staying another year while a sibling is in school.
5) Student assets carry more weight on the FAFSA. Move a student's assets to a parent's or grandparent's so the EFC isn't affected. Another tip: keep in mind that a parent's 401k is sheltered from the EFC needs analysis process, so if a parent withdraws his or her 401k to pay for college, it will be removed from its shelter and it will become income that increases your EFC.
There's more. You need to look into this right now.
Please note that if your student will be a senior this fall, you haven't missed the boat. There are still many things you can do to optimize EFC and college aid. It's critical to be prepared and fill out the 2024-2025 FAFSA as soon as it opens in OCTOBER.
Reminder: IF YOU HAVE COLLEGE KIDS GET A MEDICAL POWER OF ATTORNEY IN PLACE NOW, INCLUDING ACCESS TO THEIR MEDICAL RECORDS NOW!!! IF THE BECOME SICK AND HOSPITALIZED YOU COULD BE KEPT DATA BLIND AND UNABLE TO STOP HOSPITAL ADMINISTRATION OF CLOT SHOTS WHICH ARE ROUTINE!!!
THERE ARE FREE SOURCES. GET IT DONE!!!!!
"I now carry full-time. My grandchildren carry. My wife carries. Every single ranch worker carries. It is life living on the ranch of the Mexico border today.
https://www.quora.com/Have-you-ever-had-to-defend-yourself-with-gun/answer/Mauro-Martinez-51?ch=15&oid=1477743652717953&share=215f2bd6&srid=SSp2g&target_type=answer
More punishing of the middle class backbone of America (see a pattern yet?)
Rewarding Bad Credit Is Dangerous
A new rule went into force on May 1: Borrowers with lower credit will get access to better mortgage rates. The catch: People with good credit will pay for it.
https://open.substack.com/pub/edwin797/p/a-new-rule-for-american-mortgages?utm_source=direct&r=3vm3f&utm_campaign=post&utm_medium=web
The answer is to roll back govt guarantees to lenders. Once that happens, lending will be based on avoiding inability to pay back, eliminating the approvals for no value degrees/education, which will shrink revenues which will shrink overhead costsfor administration. Then competition will fix the pricing.
Sounds like a good step forward in winding down this abusive program. The debt load is incomprehensible to kids that age, and the degrees many of them get are worthless - and I’m not even talking about the “studies” degrees.
Plus, I know someone who got the Covid shots because she couldn’t get fired, and she couldn’t get fired because she wanted kids and there was no way to do it without working in her specialized field which allowed her to make the payments.
KIDS IN COLLEGE? Read Carefully!! This is big..
The federal legislation eliminated a question about cash support, so funds taken from grandparent-owned 529 college savings accounts will no longer affect a student’s eligibility for federal aid https://www.nytimes.com/2021/09/17/your-money/fafsa-changes-2022.html
DO YOU HAVE A HIGHSCHOOL SOPHOMORE (2022-2023) heading for #college? THIS is the time to maximize your financial aid which will be determined by EFC (expected family contribution) calculated by your input on the FAFSA form in OCTOBER of next year! Don't wait until they are a senior next year as the base year you need to optimize is right now, 2022!!
Parents are often surprised that many of the inputs are under their control, but only if they act early, as in NOW. College Aid is game you need to win, and it's not set in stone. Your actions now, before filing can have a giant impact. This is ESPECIALLY important if you think you "make too much" to qualify for student aid, as many parents mistakenly think it's not worth trying. Truth is, in many schools including top Ivy League's, the majority of students get some kind of aid, and a surprising portion of that hinges on what parent's did or didn't do to plan in advance.
A FEW OF THE KEY ASPECTS that can be planned, modelled and optimized in order to MAXIMIZE your aid and MINIMIZE what you pay, or the debt the young person you're trying to launch is saddled with:
1) Do you have assets saved in the CHILDS NAME? They can reduce aid 50 cents for every dollar saved. You need to analyze and likely modify this ASAP. It's simple, but absolutely critical. Student assets carry more weight on the #FAFSA. It can make sense to move a student's assets to a parent's or grandparent's so the #EFC isn't affected. There are many perfectly legal changes you can make and still answer the FAFSA 100% honestly.
(*not individual tax or investment advice. Always consult your CPA and trusted Financial Advisor before making any move*)
2) Do you have parental INCOME that can be deferred, optimized (think timing of long and short term capital gains from your non-ira investments)? If you own your own business, can you defer income to next year?
Keep in mind that a parent's 401k or other tax-favored account is sheltered from the EFC needs analysis process, BUT if a parent withdraws his or her 401k to pay for college, it will be removed from its shelter and it will become INCOME that increases your EFC. You may want to wait for the last base year calculation when your student is a college Sophomore. It may even make sense to borrow via home equity and pay it off later with that #401k withdrawal or loan, although each option comes with it's own considerations and potential pitfalls. Everything can be planned and modelled, but few parents actually do this!
3) Have you maximized household "size"? If a sibling or an adult dependent (such as as a grandparent or aunt) is considering moving out but they're not sure, it may make sense to ask if they'd consider staying another year while a sibling is in school.
5) Student assets carry more weight on the FAFSA. Move a student's assets to a parent's or grandparent's so the EFC isn't affected. Another tip: keep in mind that a parent's 401k is sheltered from the EFC needs analysis process, so if a parent withdraws his or her 401k to pay for college, it will be removed from its shelter and it will become income that increases your EFC.
There's more. You need to look into this right now.
Please note that if your student will be a senior this fall, you haven't missed the boat. There are still many things you can do to optimize EFC and college aid. It's critical to be prepared and fill out the 2024-2025 FAFSA as soon as it opens in OCTOBER.