The College Investor Audio Show

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Warning: AI Can Seriously Hurt Your Finances Nov 25, 2024

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Curious about how AI answers work in personal finance? Hint: not very well. In fact, so bad that you could really hurt your finances.

Robert joined the Stacking Benjamin's podcast to discuss AI in Finance, including sharing the results of The College Investor's recent AI Study.

Check out the full interview here!

Average Net Worth Of Gen Z By Age Nov 21, 2024

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We break down the potential average net worth of Gen Z by age, based on available data from the Federal Reserve, as well as other assumptions.

How Much Does Your Student Loan Interest Rate Matter? Nov 21, 2024

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How much your student loan interest rate really matter when it comes to repaying a student loan? What is the impact of interest rates on loan payments?

The truth is: not that much.

One of the most popular "alternatives" to blanket student loan forgiveness has been the argument that the federal student loan interest rate should be set to 0%.

But given the wide array of student loan forgiveness programs and other assistance - does your student loan interest rate really matter?

Let's look at how the interest rate impacts your student loans.

How Accurate Are College Cost Estimates? Hint: Not Very Nov 20, 2024

Show notes

According to a new report from John Burton Advocates for Youth (JBAY), College Cash Uncovered, there are significant discrepancies between colleges’ published cost of attendance (COA) budgets and the actual expenses students face. These discrepancies contribute to college affordability challenges and inadequate financial aid. This leaves some students with financial gaps of $10,000 or more.

John Burton Advocates for Youth (JBAY) is a nonprofit organization that focuses on improving the lives of youth who have experienced foster care or homelessness. They work on policy advocacy and providing resources to at-risk youth, including stable housing, education, healthcare and financial support. The organization tries to address higher education access, financial aid and foster youth transitions into adulthood.

Financial Literacy For Teens And Parents On The Way To College Nov 18, 2024

Show notes

Today's episode is an interview Robert had with Shellee Howard from the College Ready podcast.

He talks about financial literacy for teens and parents, the ROI of college, how to think about student loans, 529 plans, and more!

We hope you enjoy the episode. If you want to learn more about the College Ready podcast, check it out on your favorite podcast platform.

How Does A College Admissions Waitlist Work? Nov 13, 2024

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Being placed on a college admissions waitlist can create a mixed bag of emotions for applicants. On one hand, it isn’t an outright rejection, but on the other, it can feel as though you're being left on the sidelines.

After all the effort you’ve put into essays, interviews, and extracurriculars, being placed on a waitlist can be discouraging and frustrating. But understanding how a waitlist actually functions—and more importantly, what your odds of getting in might be—can help ease some of that uncertainty and inform your next steps.

We’ll dig into how the college waitlist process works, factors that influence acceptance from a waitlist, and what you can do to improve your chances. We’ll also look at real data from UC Berkeley's 2022 admissions cycle to give you a sense of how waitlist odds play out in reality.

How Much Money For Retirement Do I Really Need? Nov 10, 2024

Show notes

Many people wonder just how much money they actually need to retire. In fact, it’s actually one of the most common questions people ask in regard to retirement.

However, it may not be the easiest question to answer, as there are so many variables—many of which are unknown.

You can begin to grasp how much you will need to retire, though, by considering the following questions.

Inside The Secret World Of Debt Settlement Nov 06, 2024

Show notes

Debt settlement is widely talked about as a way to get out of debt, but not many people truly understand how it works.

You may have recently experienced a financial hardship and are strongly considering consolidating your debts to relieve some pressure. Before bankruptcy, there are two main debt consolidation options to consider.

The first is a debt consolidation personal loan. This is often for those who still have a good credit score and debt-to-income (DTI) ratio. The second is debt consolidation via debt settlement, which is what we will cover today.

The debt settlement industry has had many companies that have been unscrupulous. In fact, the Consumer Financial Protection Bureau (CFPB) has repeatedly warned borrowers that dealing with debt settlement companies can be risky. Does that mean that all of these companies are bad and you should never work with one?

Let's look at how debt settlement works, its pros and cons, and the most common scams and red flags of unethical debt settlement companies. Here's what you need to know.

Best End Of Year Financial Tips (And To-Do List) Nov 04, 2024

Show notes

Here's our financial checklist of the best money moves you can make by the end of the year to maximize your savings and investments while minimizing your taxes.

The end of the year can be a whirlwind. But the actions you take over these final months can have large impacts on your tax bill next April and your long-term financial health.

By taking proactive steps now, you can ensure that your financial life is organized and primed for success as you head into the new year. Wondering which items are most important to add to your end-of-year financial to-do list? Below are nine money moves to make before the new year to boost your bottom line.

Why You Should Never Apply To An Out-Of-State School Oct 31, 2024

Show notes

Embarking on the journey to higher education is a life-changing decision. One of the first and biggest challenges many prospective students encounter is whether to pursue a college education in-state or out-of-state.

As you know, the average cost of tuition has been on an upward trajectory since sometime around the 1980s. College tuition at a public four-year university increased 9.24% between 2010 and 2022, averaging a 12% increase each year in that period.

Not only does higher tuition mean greater costs for education, but it also means greater likelihood of finding yourself graduating with larger student loans. This is particularly concerning when the average student loan debt of recent graduates is $33,500.

In this episode, I’ll dive into the reasons why opting for an in-state college might prove to be a better long-term decision for you. From location and affordability to in-state benefits and quality of education, I aim to shed light on the advantages of keeping your educational investment in-state.

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