Results for "college savings"

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Congress takes on 529s, targets student debt

March 9, 2019

While the Financial Industry Regulatory Authority Inc. examines whether brokers are recommending 529 plans that are too expensive, Congress wants to enhance the savings vehicles. A series of bills, supported mostly by Republicans, would allow...

529 plan costs: Advisers, broker-dealers brace for Finra crackdown

March 9, 2019

Finra is primed to start​ flexing its muscles against broker-dealers that allow their advisers to sell high-cost college savings plans. But rather than plowing ahead with penalties, the regulator is offering clemency to encourage reform. Will...

Finra extends deadline for brokerages to self-report costly 529 plans

March 6, 2019

Finra has extended the deadline on its initiative to identify problems with sales of high-fee 529 college savings accounts. The Financial Industry Regulatory Authority Inc. launched a program in January targeting the recommendations of certain...

Financial literacy: An epic fail in America

March 2, 2019

For as long as he can remember, Zachary Beneda dreamed of joining the Air Force.

Finra's 529 push targets use of high-fee share classes

January 29, 2019

Brokers who gin up costs by favoring more expensive mutual fund share classes when selling 529 plans are at the heart of the ongoing concerns the Financial Industry Regulatory Authority Inc. has had about the plans, according to brokerage executives....

Finra initiative cracks down on firms recommending costly 529 share classes

January 28, 2019

Finra launched an effort Monday to crack down on brokerages selling educational savings accounts that are too expensive for the clients investing in them. The Financial Industry Regulatory Authority Inc. is targeting suitability violations centered...

6 myths about millennials that could harm adviser businesses

October 27, 2018

Financial advisers, like society at large, get an awful lot wrong about millennials — that group of 20- and 30-somethings who are an obsessive focus of generational discussion. To a certain extent, it's not entirely advisers' fault. Seemingly...

Many young staffers have benefits needs beyond a simple 401(k)

September 1, 2018

Advisers often bemoan the shortage of talent that's preventing a natural growth in their business — if only they could find the right person, and keep them. The trickle of graduates coming out of financial planning schools is one factor, but...

SoFi said to report loss of $200 million in second quarter

August 6, 2018

Writedowns of underperforming loans drove Social Finance Inc. to a second-quarter adjusted loss of about $200 million, according to people familiar with the matter. The student-loan refinancer, which has been trying to transform itself into...

Student loan rates contribute to increased college burden

July 24, 2018

Rising student loan interest rates will make college degrees even more expensive for Americans who begin taking out new loans starting this month. As of July 1, undergraduate federal Stafford student loan interest rates increased for the second...

How advisers can ride the 'wave of opportunity' of aging clients

July 23, 2018

People are living longer than ever, but how can they live better? That's the question Joseph Coughlin is trying to answer at Massachusetts Institute of Technology's AgeLab, which Mr. Coughlin founded and directs. In his book "The Longevity Economy:...

Variety of tax benefits help offset the cost of college

July 17, 2018

Recent high school graduates may still be basking in the glow of their achievement, but their parents have likely moved on to thoughts of their child's next phase of education. And while they will be excited for their children to take their...

Companies start paying employee student loan debt

July 9, 2018

Employers are trying to help employees alleviate the burdens of outstanding student loans by offering to pay off some of the debt — which totals more than $1.4 trillion in the U.S. alone, according to the Federal Reserve. It's a relatively...

New ways to pay for college

June 23, 2018

Everything was going according to plan, at first. Rosemary was investing in a diversified portfolio and saving for retirement. Over several years her adviser helped her negotiate pay raises, buy a home and pay for her dream wedding. In just...

Why clients might benefit by sending their children overseas for college

September 9, 2017

After creating a spreadsheet to compare how much it would cost to send their oldest child to college at each of the five schools she was considering, Kim and Chris Andersen were shocked to find that the school 3,600 miles away was the cheapest....

10 popular foreign universities for U.S. students

September 8, 2017

These are among the most popular international schools for American students. The prices reflect how much U.S. residents could expect to pay in annual tuition for most undergraduate degree programs, according to each school’s estimate published...

Help your clients avoid disastrous mistakes when filling in college funding gaps

August 11, 2017

For parents sending their kids to college this year, the numbers are staggering: The average out-of-state tuition for a four-year public institution is nearly $25,000, according to the College Board. After factoring in other expenses, including...

Student loans are getting more expensive

May 11, 2017

The U.S. government is raising prices for new student debt, adding hundreds of dollars to the cost of the typical federal college loan. Beginning in July, interest rates on new government loans are set to rise by 0.69 percentage point, according...

Finra is asking broker-dealers, 'What's in your clients' 529 savings plans?'

March 16, 2017

The Financial Industry Regulatory Authority Inc.'s targeted reviews of 529 college savings plans date back to the mid-2000's, when the regulator began a fact-finding sweep which resulted in a number of large fines for broker-dealers. With continued...

College planning programs in need of financial aid

February 26, 2017

Hit hard by an 18% drop in state funding over the past six years, Kansas State University can't even afford to teach its 65 financial planning students how to use such popular planning programs as MoneyGuidePro or Morningstar Advisor. "We're...

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