Comments on: Guest post: College students, could your parents save on taxes? http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Sun, 12 Feb 2012 18:46:58 +0000 hourly 1 http://wordpress.org/?v= By: Repayment of Student Loans Can Work Fast For You « Wicked Blogging http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-105321 Repayment of Student Loans Can Work Fast For You « Wicked Blogging Fri, 31 Jul 2009 16:45:26 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-105321 [...] Guest post: College students, could your parents save on taxes … [...] [...] Guest post: College students, could your parents save on taxes … [...]

]]> By: Helpful Tax Information for College Students http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-90690 Helpful Tax Information for College Students Mon, 02 Mar 2009 03:49:19 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-90690 [...] looking at the IRS’ site, I included some common questions on taxes that people have.  I added my own commentary to some points that I found interesting. It’s always [...] [...] looking at the IRS’ site, I included some common questions on taxes that people have.  I added my own commentary to some points that I found interesting. It’s always [...]

]]> By: *sigh* http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-64317 *sigh* Tue, 17 Jun 2008 04:31:37 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-64317 How do I get from point A to point B when I don't have money at all? I glimpse at what you wrote? What do I do to help me? I graduated January 2008. Student Loans: 70,000 Credit Card Debt: 5,000 Saving: 0 I worked throughout college just to pay for my books and summer courses. My parents would only contribute 2,000 a year, 3,000 if I'm lucky, to my education. I switched major sophomore year in college and dropped an entire semester for which I could not get a refund for because it was too far into the semester and it was too late. I also lost my scholarships. I worked hard and graduated with honors and good grades but cannot find a half decent job. I'm lucky enough to have a roof over my head (mommy's and daddy's). I'm drowning in debt. I can't handle it anymore. I'm getting no help from anyone. I'm living on my credit cards and paying any bills that I have with my credit cards. All the money that I've saved have gone into paying down my credit cards. I'm not only embarrassed but ashamed. My dreams and goals somehow have gone down the tube. I feel like a total failure. And worse of all I feel alone. How do I get from point A to point B when I don’t have money at all?

I glimpse at what you wrote? What do I do to help me? I graduated January 2008.

Student Loans: 70,000
Credit Card Debt: 5,000
Saving: 0

I worked throughout college just to pay for my books and summer courses. My parents would only contribute 2,000 a year, 3,000 if I’m lucky, to my education. I switched major sophomore year in college and dropped an entire semester for which I could not get a refund for because it was too far into the semester and it was too late. I also lost my scholarships. I worked hard and graduated with honors and good grades but cannot find a half decent job. I’m lucky enough to have a roof over my head (mommy’s and daddy’s). I’m drowning in debt. I can’t handle it anymore. I’m getting no help from anyone. I’m living on my credit cards and paying any bills that I have with my credit cards. All the money that I’ve saved have gone into paying down my credit cards. I’m not only embarrassed but ashamed. My dreams and goals somehow have gone down the tube. I feel like a total failure. And worse of all I feel alone.

]]> By: chris smith http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-61692 chris smith Tue, 13 May 2008 17:12:33 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-61692 hello. i'll be a high school senior next fall. I've managed to be on top of my class (4.0) gpa and did very well on the SAT. Basically, i've covered all areas to be a good college candidate. My situation is this. My parents were first generation college attendees/americans that paid there own way from start to finish. They are both doctors and wealthy and can afford to pay for all my expenses but have told me they will not contribute financially and so I am on my own. Like I said, I've worked hard and top institutions are sending the letters since i scored really high on the PSAT and SAT. QUESTION: What do i do? I don't want loans. How plausible is it that a university will grant me a full or partial ride? What do universities do with students like me? I don't qualify for financial aid because my parents are wealthy. But I'm not and they will not provide financial support period. Do I have to apply for some legal independent status or something so I can qualify as needy? Please help with advice and info. Feel free to post here or email me. THANKS. hello. i’ll be a high school senior next fall. I’ve managed to be on top of my class (4.0) gpa and did very well on the SAT. Basically, i’ve covered all areas to be a good college candidate. My situation is this. My parents were first generation college attendees/americans that paid there own way from start to finish. They are both doctors and wealthy and can afford to pay for all my expenses but have told me they will not contribute financially and so I am on my own. Like I said, I’ve worked hard and top institutions are sending the letters since i scored really high on the PSAT and SAT.

QUESTION: What do i do? I don’t want loans. How plausible is it that a university will grant me a full or partial ride? What do universities do with students like me? I don’t qualify for financial aid because my parents are wealthy. But I’m not and they will not provide financial support period. Do I have to apply for some legal independent status or something so I can qualify as needy? Please help with advice and info. Feel free to post here or email me. THANKS.

]]> By: Getting Ahead in College | Green Panda Treehouse http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-55581 Getting Ahead in College | Green Panda Treehouse Thu, 13 Mar 2008 01:03:05 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-55581 [...] Average College Student graduates with: [...] [...] Average College Student graduates with: [...]

]]> By: L.T. http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-54536 L.T. Wed, 05 Mar 2008 00:28:35 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-54536 Thank you for getting back to me Mike. We do have a financial aid office, but the worker there hates answering my questions so I quit bothering them, but since I am transferring, I am likely to be able to contact the financial aid department there. Vanguard is a little out of my league at the moment, but I will keep in mind to get an index fund that tracks the S&P 500 when I can get something. Thanks for your advice :), I'll continue researching and contact the finaid office. Thank you for getting back to me Mike. We do have a financial aid office, but the worker there hates answering my questions so I quit bothering them, but since I am transferring, I am likely to be able to contact the financial aid department there. Vanguard is a little out of my league at the moment, but I will keep in mind to get an index fund that tracks the S&P 500 when I can get something. Thanks for your advice :) , I’ll continue researching and contact the finaid office.

]]> By: Mike http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-54484 Mike Tue, 04 Mar 2008 11:49:32 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-54484 @ L.T.- I honestly can't speak for how personal savings in a CD ladder affects college financial aid eligibility. I wasn't in a position to do any serious savings until after college. Is there a financial aid office/dept at your school that could field the question? If you want to keep your money in something liquid, then the ING route is a great way to do it. If you have long-term savings plans, I'd consider getting connected with an index fund that tracks the S&P 500... I've had one with Vanguard for about a decade now and it's been treating me kindly for the duration; low fees, no loads, yada, yada, yada. Kudos to you for considering savings options early on. I wish I had that kind of tenacity when I was in school. Best of luck! @ L.T.-

I honestly can’t speak for how personal savings in a CD ladder affects college financial aid eligibility. I wasn’t in a position to do any serious savings until after college. Is there a financial aid office/dept at your school that could field the question?

If you want to keep your money in something liquid, then the ING route is a great way to do it. If you have long-term savings plans, I’d consider getting connected with an index fund that tracks the S&P 500… I’ve had one with Vanguard for about a decade now and it’s been treating me kindly for the duration; low fees, no loads, yada, yada, yada.

Kudos to you for considering savings options early on. I wish I had that kind of tenacity when I was in school. Best of luck!

]]> By: L.T. http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-54364 L.T. Mon, 03 Mar 2008 07:48:18 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-54364 This is a great article, I like Mike's idea of a CD ladder and hope to implement that. My brother and I are both dependents receiving financial aid and I am curious to how a CD ladder would affect our finaid eligibility since I had to quit my part-time job because my mom got the idea from a radio talk show that my income (around 2k) would lower our financial aid. I currently have a savings account with INGdirect with $200 and after reading many articles about saving, wanted to open a Roth IRA, but with no job, I was told it would be impossible. Would the CD ladder work for me? This is a great article, I like Mike’s idea of a CD ladder and hope to implement that. My brother and I are both dependents receiving financial aid and I am curious to how a CD ladder would affect our finaid eligibility since I had to quit my part-time job because my mom got the idea from a radio talk show that my income (around 2k) would lower our financial aid. I currently have a savings account with INGdirect with $200 and after reading many articles about saving, wanted to open a Roth IRA, but with no job, I was told it would be impossible. Would the CD ladder work for me?

]]> By: Amr http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-54170 Amr Sat, 01 Mar 2008 16:13:44 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-54170 I agree with everything here...But have also have a suggestion: if the family is really in a tough spot, have a family member get a second (or first) job at the college of choice and save up to 75% on tuition. THATS HUGE. Go at it as a family team matter and save everybody money. Just a tip, <a href="http://www.ninjamoney.blogspot.com" rel="nofollow">Amr T</a> I agree with everything here…But have also have a suggestion: if the family is really in a tough spot, have a family member get a second (or first) job at the college of choice and save up to 75% on tuition. THATS HUGE. Go at it as a family team matter and save everybody money.

Just a tip,

Amr T

]]> By: Our Federal Refund was Delayed | Green Panda Treehouse http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes/#comment-53975 Our Federal Refund was Delayed | Green Panda Treehouse Fri, 29 Feb 2008 02:35:42 +0000 http://www.iwillteachyoutoberich.com/blog/guest-post-college-students-could-your-parents-save-on-taxes#comment-53975 [...] has guest writer this week on taxes. The advice is for college students, twenty year olds, and newly married [...] [...] has guest writer this week on taxes. The advice is for college students, twenty year olds, and newly married [...]

]]>