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Why Aren’t 529 Educational Savings Plans More Popular?

Why aren't 529 educational savings plans more popular?
How do you plan to fund your children’s education? You’re probably counting on scholarships and grants, right?

Reliance on scholarships and grants is the highest in a decade, while college savings is on the decline, according to a new report from Sallie Mae.

Savings covers less than one quarter of collegiate funding for the typical family. As a result, one of the strongest educational savings programs – 529 plans – is being underutilized.

Low Utilization

Only 13 percent of families used a 529 plan during the 2016-17 school year.
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Card Balances Drop While Consumer Credit Growth Slows

Card Balances Drop While Consumer Credit Growth Slows

A new government report provides both good news and bad news about America’s massive consumer debt load.

The bad news: America’s total consumer debt continues to rise.

According to May’s G.19 Consumer Credit Report from the Federal Reserve, combined (revolving and nonrevolving) outstanding debt rose by $11.7 billion in March to reach $3.875 trillion – continuing a string of monthly debt increases that goes back to January 2016.

The March increase equates to a 3.6 percent annualized debt growth.
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Only 52% Of Women In A Relationship And Providing Half Or More Of The Household Income Are Responsible For Managing The Money

Have we bridged the gender gap when it comes to household roles, domestic duties, and career choices? Not entirely – but a new survey suggests that women are leading the way in closing the gap and preparing the next generation of men and women to continue the fight. Read More

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What Should I Do with My Tax Refund?

By now, most people have filed their taxes. That means you likely know whether you are getting a refund or may have one already.

Tax refunds can be substantial, so figuring out what to do with that windfall can be challenging. Luckily, a refund is a chance to take some positive financial strides that can help you well into the future.

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Is a Debt Consolidation Loan the Best Option for Your Debt Relief?

Let’s face facts; having a lot of debt can be frustrating. Your monthly payments may be hard to manage, and it seems like those minimum payments just aren’t chipping away at your balances.

You know something has to give, and a debt consolidation loan can appear to be an attractive option. But is it the right choice?

If you’re considering a debt consolidation loan, here’s what you need to know. Read More