John Gay, CFP® of Frisco Financial Planning Named to Dallas-Fort Worth (DFW) “Best Financial Planners List”

John Gay, CFP® was recently named by his colleagues to the D Magazine List of the Best Financial Planners in Dallas-Fort Worth (DFW).
Frisco, TX: December 19, 2008 — John Gay, CFP®, a Certified Financial Planner(tm) practitioner in the Dallas suburb of Frisco was named by his peers in the January 2009 issue of D Magazine [...]

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College Admission: Early Decision and Early Action

What’s the difference between early decision and early action?
If you and your child think the early decision process is too limiting, one alternative might be for your child to apply to college under an early action plan.
Early action plans are similar to early decision plans, but are less restrictive. First, a student can apply to [...]

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Top Ten Money Moves for Today’s College Freshmen

With average college tuition up 6.3 percent at private schools and up 6.6 percent at public schools this past school year, money management is a bigger issue than ever on college campuses. That’s why it’s good to send your freshman off to school with a 10-point plan on how to best manage their money:

Take baby [...]

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What is a Parent PLUS Loan?

A Parent PLUS Loan is a federal student loan available to parents with good credit histories who want to help pay for their dependent child’s undergraduate education. (A similar Graduate PLUS Loan is available to graduate students.) Under the program, parents can borrow up to the full cost of their child’s college education each year, [...]

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Will the current credit crunch impact my child’s ability to get a student loan for college?

It’s hard to say whether the credit crunch will prevent students from obtaining the financing they need to pay for college. According to the College Board, last year students and their families borrowed nearly $60 billion in federal loans and $17 billion in private loans for college. In order to understand the current student lending [...]

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Stafford Student Loan Rates Drop Significantly

Finally, there’s some good news on the student loan front. On July 1, 2008, the interest rates on variable federal Stafford and PLUS Loans will decrease significantly. These new rates apply only to loans issued on or after July 1, 1998 and before July 1, 2006.
The interest rate on Stafford Loans in repayment status will [...]

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Heading Back to School? Make a Plan First

It was the physicist Rosalyn S. Yalow who said, “The excitement of learning separates youth from old age. As long as you’re learning you’re not old.”

A July/August 2006 story in AARP Magazine by noted workplace and career expert Rosabeth Moss Kanter pointed out that retirement-phobic mid- or late-career types might retreat to college campuses instead [...]

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Tapping Retirement Savings for College Expenses

Should you tap your retirement funds to help pay your child’s college expenses? Well, you can. But is it a good idea?
The double problem with double dipping

Financial professionals generally recommend using your retirement funds for one purpose only–retirement. Why? Because frequent dips into your retirement funds will reduce your ultimate nest egg. Plus, there will [...]

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Saving for Retirement and College at the Same Time

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child’s education at the same time can be a challenge. But take heart–you may be able to reach both goals [...]

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What You Can Do Before the Kiddie Tax Loophole Closes

When President Bush signed new legislation in May to limit gifts to children that take advantage of their lower tax rate, it was the second time in just over 12 months that Congress extended the reach of the so-called kiddie tax, which subjects a child’s income to his/her parents’ higher tax rate.
Maneuvering around the kiddie [...]

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