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529 College Savings Plans

A few more important facts about 529 college savings plans:

• Once a 529 plan is set up, the contributions are invested on behalf of the account holder through options like stock mutual funds, bond mutual funds and money market funds. 
• There are no age limits on the beneficiaries of 529 plans, so both children and adults may utilize them.
• 529 contributions are not tax-deductible; however, the earnings from the 529 plan are not subject to federal tax as long as the withdrawals are used for eligible college expenses.  
• If you withdraw money from a 529 plan and do not use it on eligible college expenses, you will be subject to income tax and an additional 10% penalty on the earnings.  
• 529 balances may be transferred between beneficiaries as long as they are used for eligible college expenses.

 

Happy saving!

Good 2 Know - Educational Resources and Updates

Choosing a major can be hard – especially if you have little to no idea what you want your job to be when you graduate. The Wall Street Journal Classroom Edition detailed the top five most versatile majors and their possible career paths – including Business (you could be a financial planner) and Communications (you could be a brand manager). Get the rest of the breakdown here.

 

 

The Project on Student Debt – an initiative of the Institute for College Access and Success – recently reported that 2/3 of college seniors who graduated in 2011 left college with student loan debt and entered the workforce dealing with an 8.8% unemployment rate for young college graduates. Make sure you aren’t part of that majority by making smart choices when it comes to financing your education.

Good 2 Know - Educational Resources and Updates

Looking for a one-stop shop for all your college planning questions? Check out the Consumer Financial Protection Bureau’s website – the CFPB provides school research tools, financial aid forms, loan information, money-management tips and more.

Good 2 Know - Educational Resources and Updates

Did you know that a student drops out of school every 26 seconds in the US? America’s Promise Alliance, a partnership of 400+ organizations dedicated to improving the lives of American youth, works to mobilize its partners to combat dropout rates and improve graduation rates through its Grad Nation campaign. A major goal of Grad Nation is to achieve a 90% nationwide graduation rate by 2020. Learn more about this growing movement here.

 

In Your Corner: Clubs & Organizations for Students

Strive for College Collaborative

Founded
2009 by a freshman at Washington University in St. Louis

Just The Facts
Strive is a national organization operating student-run chapters at colleges and universities across the US. With the mission to address inequalities in college access, Strive recruits local undergrads to serve as mentors to low-income high school students and help them through the college application and financial aid processes during their junior and senior years. 

Get Involved
Current college students can join the movement as a mentor or intern. Interested high school students at current partner schools can talk with the contact at their school about participating in the program or reach out to Strive to bring the program to their high school. Parents and educators can also look into starting a new chapter.

Benefits
Strive students are more confident and prepared going into the college application process - more than 93% of Strive students go on to four-year colleges. Mentors get the opportunity to share lessons they learned during the college application process, develop leadership, communication and teaching skills and make a real, positive difference in the lives of students in their communities.

In Your Corner: Clubs & Organizations for Students

American Institute for Foreign Study (AIFS)

Founded
1964

Just The Facts
Cultural exchange organization with offices in 15 countries, administers exchange programs for more than 50K participants each year

Get Involved
College students can apply for a summer, semester or academic year study abroad program with AIFS 

AIFS opportunities for high school students include summer college prep program, educational group tours abroad and summer institute for gifted students

Pay application fee and complete online or print and mail application; deadline has been extended for applications for all programs,

Learn more by visiting the website, speak with alumni or requesting a catalog

Locations
Study abroad destinations include China, Italy, Argentina, Austria, Peru, Russia, Turkey, France and many more

Benefits
AIFS awards more than $600k in scholarships and grants to participants in both summer and semester programs

All-inclusive programs include airfare, housing, meal plans, insurance, onsite support, extracurricular activities and excursions

Good 2 Know - Educational Resources and Updates

The 2012 Presidential Election is quickly approaching and with 19 to 29-year-olds making up the largest segment of potential voters, issues affecting young people are sure to have a great impact on the outcome. Rebecca Rubin, a high school student and first-time voter recently quoted in The Wall Street Journal Classroom Edition, argues that “A candidate who effectively addresses the rising cost of education would not only draw student votes, but also give a lift to the economy.” Do you agree? Read more about the election here and share your opinion on our blog!

 

These days, you probably hear a lot about tuition costs skyrocketing at colleges and universities across the country. What you might not hear as much about, however, is that the amount of financial aid available to students has increased dramatically as well – more than 50% in grants and scholarships over the last decade. Learn more about emerging trends in financial aid for students here.

Good 2 Know - Educational Resources and Updates

Irresponsible behavior on social media sites has the potential to damage your reputation, your appearance to potential employers and prospective colleges – it could even get you in legal trouble! Mashable.com recently put together a list of 12 common mistakes young adults make on social media, such as posting confidential information and illegal activities. Get the complete list here.  

Good 2 Know - Educational Resources and Updates

Did you know that more than 50% of colleges and universities used wait lists in 2010 but offered admittance to only 28% of the students who accepted a wait list slot? Learn more about important trends in college admissions and their impact on the process for the new class of applicants by reading this wrap-up of NACAC’s 2011 State of College Admissions report, compiled by CollegeXpress. 

In Your Corner: Clubs & Organizations for Students

Founded  
1996

Just The Facts
Initiative of Ashoka, a global association of social entrepreneurs

International community of young people working to address social problems and improve their communities

YV supports teams who launch and run their own “ventures” – community-benefitting clubs, campaigns, organizations and businesses

Get Involved 
Youth between ages 12-20 are eligible to start a venture and attend the annual summit which offers young “changemakers” the opportunity to network, collaborate, and engage in participate in skill-building workshops

Individuals under age 12 can launch a venture with an older teammate

Older than age 20 can check out the job, internship and volunteer opportunities with Ashoka

Impact 
More than 5,000 teams worldwide

Previous ventures have included AIDS education campaigns, composting cafeterias, T-shirt companies, skate parks, disaster relief groups, book clubs, tutoring programs, anti-littering campaigns and art programs for children with special needs

 

Locations
YV programs are currently active in Virginia, Massachusetts, Washington, D.C., Minnesota, New York, Washington and Arizona

 

Learn more about Youth Venture at their website - http://www.youthventure.org/