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AUTHORS: Jennifer Climo Jean Fullerton Jonathan Harrington Nick Prigitano Jenna-Rose Finnie Kyle Labelle

What You Need to Know about Student Loan Debt Relief and the Limited Public Service Loan Forgiveness Waiver

October 21, 2022 Student Loans Kyle Labelle

If you have paid attention to the news over the past few months, you’ve likely heard of the Biden Administration's plan for student loan debt relief announced on August 24th. The application is live, making now the time to act for eligible borrowers. While debt relief received much of the headlines of late, another debt relief program, the Limited Public Service Loan Forgiveness (PSLF) Waiver is set to expire at the end of the month. Eligible borrowers that have yet to opt in must do so very soon or lose out on the opportunity to do so.

FAFSA Changes Ahead: What to Know about the FAFSA Simplification Act

October 8, 2021 College Kyle Labelle

On December 27th, 2020, the FAFSA Simplification Act was passed as a part of the larger Consolidated Appropriations Act. The new legislation included several changes to the financial aid process and the FAFSA form. Parents who have had to fill out the FAFSA form in the past understand how overwhelming it could be, as the old form had 108 different questions and was 8 pages in length. To help decrease the instances of families choosing to just skip filling out the FAFSA altogether, legislators worked to streamline the form and, in the process of doing so, made several other notable changes to federal student aid determination.

Creating a Savings Habit for your Kids with a Roth IRA

August 17, 2021 Families Cash Management Kyle Labelle

Arguably, one of the greatest financial lessons a parent can teach their child is how to delay gratification today for a more important goal in the future. This may be something that goes against evolution itself. That is why it is even more critical to instill this habit as early as possible. One way of doing so is encouraging your child to save in a Roth IRA. By starting your child on the path to saving at an early age, it may be possible to create the foundation to a successful retirement and overall financial wellbeing. The key to doing so lies with three key concepts: the Roth IRA, compound interest, and consistent contributions over time.