Paying for College

The costs of college have risen faster than the general inflation. Many students graduate with tens of thousands of dollars owed on student loans. The total student loan debt in our country now exceeds $1,000,000,000 and has been predicted to be the next financial bubble as many graduates fail to obtain high paying jobs.

In stark contrast, some students arrive as freshman with asset balances ranging from perhaps $20,000 to $200,000 in college savings accounts, ready to pay cash and graduate with no debt. These college savings plans have evolved into engines for generating tax free compounding growth and this month we’ve been seeing actual results as we talk with parents and happily...

Paying For College: What Every Parent (And Grandparent) Needs To Know …

If you think children grow up too quickly, consider this: Once they reach a certain age they may legally be entitled to the money you and others have been setting aside for their future. And while you expect it to help pay for college, they may have very different notions about how to spend it.

The funds most vulnerable are those in custodial accounts. These accounts, typically at a bank, mutual fund company or brokerage house, are often the first savings fund that many parents and grandparents set up for young children. Likewise, when buying savings bonds for children, it’s necessary to designate a custodian. Though technically minors have title to the assets, they are not allowed...

VSAC offers ‘Paying for College’ workshops at local high schools

WINOOSKI — Vermont Student Assistance Corp. will offer free workshops at local high schools to help families plan how to pay for college and training after high school.

The presentations, which normally run 90 minutes to 2 hours, provide students and their parents with information on financial aid and other resources available to pay for college. Time is allotted for questions.

Among the topics covered are: types of financial aid; ways to apply; how family contribution is calculated; how financial aid is awarded; student and parent loans; how to compare college costs and alternative payment options.

Dates and times include:

– Vermont Academy, Dance...

Colorado Attorney General: 6 indicted in Denver area mortgage scheme

A statewide grand jury has indicted six family members on suspicion of running a mortgage-fraud scheme in the Denver area, costing lenders as much as $4.6 million through the manipulation of straw buyers, the Colorado Attorney Generals Office said Wednesday.

The 37-count indictment alleges the family manipulated multiple real estate transactions through the use of fraudulent statements, material omission, acquisition of false identification and notary commissions.

Charges, for alleged crimes spanning two decades, include violations of the Colorado Organized Crime Control Act, forgery, theft, attempt to influence a public servant, criminal impersonation.

Jose Ricardo...

The jury in a mortgage case finally strikes back at fraudulent bankers

Given the governments failure to bring criminal cases against bankers and other Wall Street figures for collapsing the US economy in 2008, its been left to the little guy to strike back.

To be precise, one federal jury in Sacramento, which acquitted four allegedly fraudulent mortgage borrowers of criminal charges after hearing testimony that the executives at their banks pulled out all the stops to make fraudulent loans for their personal profit.

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A New Organizing Principle

In the 1930s the biggest international policy problem was isolationism.

Because the United States had two vast oceans protecting two of its borders, many people thought we were safe from the aggression of both Germany and Japan. Thank goodness Franklin Roosevelt thought otherwise and carefully played his cards to surmount an overwhelming national sentiment to go it alone.

We know what happened. The Japanese made a big mistake with a sneak attack that mobilized the nation. By 1945 both Germany and Japan had unconditionally surrendered and for a brief time the world was safe again from state predators who sought world domination.

After that began a process with many smaller...

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Color of Money: Make sure you can afford a reverse mortgage

You’ll receive a Social Security benefit and a monthly pension. But there’s a financial gap because of unexpected expenses. You need a new roof and other necessary home repairs.

Then you see a late-night television commercial about something called a reverse mortgage.

“You know some people have told me reverse mortgages sound too good to be true,” the actor and former senator Fred Thompson says. “I mean, you get cash out of your home. No monthly payments and still own your home.”

Could this be the answer?

It may be. But be careful.

Most people understand a traditional 30-year or 15-year mortgage. You take out a loan for your...

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There was a time when what technology a company used was solely the concern of the IT department. But now its a part of everyones job to know what the latest technology is to impact your line of business finance department included.

For a long time, the general ledger and a calculator were enough technology for most finance departments to operate effectively. You could argue that it was the most sheltered from the digital age as it started to transform the way companies changed the tools they gave their workers, tracked relationships with customers, and communicated with the public. But the IT storm being faced by organizations is so strong that no department or executive can avoid...

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Business finance firm opens a regional base

Business finance provider MarketInvoice is set to transform the Lancashire lending landscape with the opening of a North West office to give small businesses quicker and easier access to working capital.

The peer-to-peer funder enables businesses to selectively sell their invoices to a network of global investors, releasing money up front that would otherwise be tied up for up to 120 days. Since its London launch in 2011, invoices worth nearly £250m have been traded and the company has secured the support of the Department for Business Innovation and Skills (BIS).

Now it is opening a Manchester base.

The company is already helping Lancashire entrepreneurs, including...

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Entrepreneurs Know Little About Business Finance

Nearly 2 million businesses want money to invest over the next six months, but few are aware of the available funding options.

Research by financial firm Aviva shows a third of entrepreneurs do not understand alternative business finance options, and 29% were unaware the funding options were available.

Sole traders were the least aware of how to raise cash to grow their businesses. Around 80% confessed they did not understand or were unaware of their options.

Only a fifth of entrepreneurs agreed they would look at alternative finance for their business, while 40% said they would rather deal with a high street bank.

Nearly three-quarters steered away from alternative...