Divorced? Perhaps Do This by Sept 30 and Save a Bundle on College

This article was originally published here on July 31st, 2017. It was updated and reposted here on May 22nd, 2018.

Are you divorced from your child’s other parent?

If so, there are specialized strategies you can use to reduce your kids’ future college costs.divorced

Here’s just one.

1. Figure out which of your child’s parents has the lower household income.

Is it you, or is it your ex-spouse? (Be sure to include the income of any new spouses when you calculate this income amount.)

2. Ask yourself, “Could my daughter possibly go to live with her lower-income parent, starting on September 30th of her 11th grade year?”

Think, would it be safe and healthy for your daughter to sleep 183 nights (or more) at her lower-income parent’s house between September 30th of her 11th grade year and September 30th of her 12th grade year?

Could she keep up this living arrangement until she goes away to college?

There are dramatic financial aid benefits for divorced parents who do this.

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Why You Should Never Cosign a Student Loan

And How to Save Yourself If You've Already Done It

Parent, I urge you: DO NOT cosign a student loan for your child.

Today I’m featuring information from an article by nationally syndicated radio host and author Clark Howard. I consider this to be must-read info for every parent. After you read below, you can find articles by Clark Howard, listen to his radio show, view his videos, and sign up to receive his money-saving advice right in your email inbox at ClarkHoward.com.

Are you considering cosigning a loan for an adult child who needs a car, a student loan, or a credit card?

Here are 7 deeply concerning things you need to be aware of before you pick up that pen.

cosign a student loan

1. If you cosign a student loan, you may unwittingly strain future family relationships.

Nobody likes to think about this, but there’s an almost four in 10 chance that when you cosign a student loan, you will be the one who has to pay off the balance. A CreditCards.com survey found that of the cosigners they surveyed, 38 percent had to pay some or all of the loan balance or credit card bill because the primary borrower did not, 28 percent experienced a drop in their credit score because the person they chose to cosign for paid late or not at all, and 26 percent said the cosigning experience damaged their relationship with the person they cosigned for.

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LinkedIn.com Increases Its Minimum Age to 16

This Calls for A Change In Strategy for Families Who Follow Me

On June 7th, 2017, LinkedIn.com changed its user agreement, increasing the minimum age for opening a LinkedIn account from 14 to 16. “Existing members who happen to be under 16,” LinkedIn says, “will be allowed to remain members and use our services.”

This minimum age change means a change in strategy for families who follow me.

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7 Reasons Your MIDDLE SCHOOLER Needs A College Study Skills Class

And Where to Find One

To get straight to my study skills class information, scroll to the red writing below.

LIve class coming August 27th!

Something magical happens when a middle schooler takes a college study skills class. I’ve seen it a thousand times.

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