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The great college savings fiasco (MSN Money) |
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By Katherine Reynolds Lewis, 1/15/2009 Mention "college savings" to a financial professional and you'll likely be steered to a 529 plan.
In the decade since these investment accounts were created, they've become practically synonymous with college savings. Savingforcollege.com and the College Savings Plan Network are exclusively focused on 529 plans, for instance.
But many parents who have invested in 529s, counting on the market to help cover the soaring costs of college, would've been better off putting the money under their mattresses.
The plummeting stock market has erased many if not most gains. The balance could be less than the parents have contributed. And parents of older children, in particular, don't have much time to make up losses before they need to pay tuition.
Margot Black, a Los Angeles writer and publicist, put $15,000 into a 529 plan for her toddler son, only to see the account lose 40% of its value in less than a year.
"It was heartbreaking to watch," Black said. "The 529 plan is sold to parents as the no-hassle investing fund. . . . I honestly thought we had done such a good job upfront that we could relax." |
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It’s new for me… and I like it. |
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Posted in Blogroll by angela on the January 23rd, 2009 I have been working in PR for many years and have had many successes. I felt that I was an integral part of the growth and made an impact on the positive transitions that my talents afforded my company’s owners as well as our customers. I honored our clients and valued my colleagues. Still something always kept me from feeling satisfied and settled about working for these companies. Recently I was up late working on a bylined article for one of our clients – College Planning ABC. Manuel Fabriquer, the founder of the company, assists parents and students in securing financial aid and free money for college. It hit me when I was describing how the time has come for parents, like me, to start getting creative about figuring out how we will pay for college. I realized that what I lacked in my past positions was true passion. I may have cared but never had this wonderful feeling of purpose – of responsibility for the lifeblood of my clients. In turn our (both my and my clients’) success had become my passion when I realized I was working late for MY client – who had put his faith in Media Owls. |
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Saving for the Kids College: What's the Best Way? (Quicken Press Release) |
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June 2nd, 2009 Remember the day you brought home your new child and thought, “This is the BEST day, ever! I am going to love being a parent,” then the baby pooped, at which point you realized that this precious child is going to be nothing but hard, stinky work and is going to be the costliest decision you’ve ever made? |
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Local business negotiates maze of paying for college (Oakland Tribune Press Article) |
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Oakland Tribune, Aug 5, 2007 by Aaron Swarts TRACY -- For parents like Anna Mendoza, the soaring costs of a college education is enough to keep them pacing the floors in the wee hours of the morning.
Her daughter is preparing to enter her second year at a private college, leaving Mendoza and her husband wondering how they are going to pay for more than $40,000 a year in tuition.
"We have had many sleepless nights lately," she said. "My husband and I have been stressing about the situation so much we actually considered sending her back to Delta College."
Enter Certified College Planning Specialist Manuel Fabriquer of College Planning ABC in Tracy. |
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Sharing secrets of college aid (Tracy Press Article) |
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Danielle MacMurchy/Tracy Press Friday, 23 February 2007 One local college planning consultants' popularity is at an all-time high as the financial aid deadline approaches. By Danielle MacMurchy College planning consultant Manuel Fabriquer’s voicemail is full, and his day calendar is inked with appointments — an indication that the deadline for college-bound students to apply for financial aid is just six days away. Fabriquer recently launched College Planning ABC, one of the only college consulting firms around Tracy. Parents of prospective college students from as far as Hayward packed six of Fabriquer’s free college planning workshops during the past two months.... |
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