The most galling thing about the state of Texas rescinding its refund policy on its oldest prepaid college tuition plan is not the broken promise.
——————————————
It’s not even the use of fine print to change the terms of signed contracts more than six years after the deals were struck.
——————————————
No, the most appalling aspect of this administrative sleight of hand is that the state wants to be paid for not doing what it said it would do.
——————————————
When the Texas Tomorrow Fund was started, it promised parents if they had to cancel a prepaid tuition contract, possibly because a child didn’t go to a state school or received a full scholarship, the fund would provide a payout based on current tuition and fees at public universities.
——————————————
That incentive made investing in the fund a no-lose proposition for parents with young children and the means to prepay college tuition. Everything families put into the fund, plus more, would be returned even if they canceled the contract.
——————————————
But now the managing board for the fund, which has been closed to new participants since 2003, has voted to renege on the refund rules.
——————————————
No word on interest
Starting Nov. 1, parents who signed up for the fund between 1996 and 2003 and who cancel contracts will only be reimbursed what they paid into the fund, minus about $36 in administrative fees for every year the money was invested in the fund.
——————————————
Texas, which has had the use of these people’s money for as long as 13 years in some cases, wants to charge them a fee for using their money. Notice, the state is not saying a word about paying them any interest.
So basically, anyone who cancels one of these contracts after Nov. 1 would have done better putting the cash they “invested” in the prepaid fund into an empty jar instead.
Upset families
——————————————
“I would not be surprised if some upset families file an action about this,” said Mark Kantrowitz, publisher of FinAid.org, a Web site on student financial aid. “They should start writing letters to their state representatives now to get this changed.”
——————————————
Joe Hurley, founder of SavingforCollege.com, said the Texas action besmirches the reputation of all state-sponsored college savings and investing vehicles, commonly called 529 plans.
What you can do
——————————————
Folks with these contracts do have some other options:
• Stay in the fund and insist your child attend a Texas public university.
Even if the fund runs out of money, which it is predicted to do in the next decade, the plan is backed by the full faith and credit of the state as written in the Texas Constitution.
——————————————
The prepaid fund that was created to replace Texas Tomorrow does not have that same guarantee.
“If your kids get scholarships, try to hold on and use the money for graduate school,” said state Sen. Rodney Ellis of Houston, who bought prepaid tuition contracts for his children.
——————————————
• Cancel the contract before Nov. 1 and invest the payout in a 529 college savings account.
Unlike the prepaid plans, the savings accounts are similar to retirement funds that give you control over how the money is invested. And those who do not want to think too much about investment strategies can place the money in funds that change the asset mix as a child ages so it becomes less risky over time.
——————————————
“The rule of thumb on shopping for 529 savings plans is you look at both your own state’s and any other state that has fees of less than 1 percent,” Kantrowitz said.
——————————————
No state income tax
You look at your own state’s plan so you can take full advantage of any state income tax breaks that may be available. Since Texas does not have a state income tax, feel free to search the country for the best plan for you.
——————————————
The refund policy was too generous to begin with, and the change in the policy, maddening as it may be to participants, will fix only a small part of the college fund deficit going forward.
Texas is still grappling with how it’s going to get the program out of this deep hole.
——————————————
source: http://www.chron.com/disp/story.mpl/business/buggs/6616921.html

The economic stimulus plan that was passed earlier in 2009 increases the maximum Pell Grant, from $4,731 currently to $5,350 starting July 1 and $5,550 in 2010-2011. This Federal Financial Aid Grant is intended to help the lowest-income students attend colleges or universities. The maximum grant should cover about 75% of the average cost of a four-year college. The plan also increases the number of students who will be eligible. In fact, now, 800,000 more students, or about 7 million, may qualify for Pell Grants.

In addition, the 2009 economic stimulus package increases the tuition tax credit to $2,500 and makes it 40 percent refundable. Due to this boon, families and individuals who don’t make enough to have to pay income tax could still get as much as $1,000 in extra tuition help.

Better yet, computer expenses are now an allowable expense for 529 college savings plans – a big positive for online degree seekers!

The package spends an estimated $32 billion on higher education – so don’t get left behind. Take advantage of the benefits offered to help you get ahead.

Unemployed? Think you may be out of a job soon? It makes sense to start increasing your credentials now. When you have earned your college degree, you’ll be able to find better jobs with higher pay.

Find out more about what is available for you and get started earning your college degree.

source: http://www.toparticlesdir.com/reference-education/economic-stimulus-plan-increases-help-for-college-tuition/953

If you have ever wanted to get a degree in the field of law but thought you didnt have enough time–or money–think again. Motivated students can get highly respected law degrees online while holding down a job and taking care of families. Not only that, but online degrees are also eligible for financial aid from the government as well as private sources.

——————————————————————

Why a Paralegal Degree?

According to the Bureau of Labor Statistics, the paralegal field is expected to grow at a rapid pace. In addition to that increase, factor in job openings due to retirements, career changes, and other elements, and you have a perfect field for those interested in the field of law.

Also, many people who want a career in law do not want to go to four years of undergraduate study then spend another few in law school. For those people, the paralegal career track is perfect.

——————————————————————

So, What Do Paralegals Do?

Paralegals do much of the work a lawyer can do, except give legal advice. A paralegal will assist attorneys in day to day duties, legal research, and perform some administrative activities. This career path offers a lot of variety, as well as many choices of specialty. The paralegal may focus on divorce or family law, real estate law, criminal law, or any other field where there is a law specialty.

——————————————————————

Getting Your Paralegal Degree

If you are interested in becoming a paralegal, you will very likely need a minimum of an Associates Degree. Some paralegals have degrees in other fields, but most of those are related to law and public policy in some way.

If you already have a job and/or a family, however, you may not have the time to sit in a classroom. For you there is the paralegal degree online. Nearly all degree programs now offer an accredited online option, and this enables you to earn your diploma or certification from some of the most prestigious schools in the United States.

There are lots of way to find a good program. One of those ways is to look on the internet. When you get a list of possible schools, check their accreditation, the program itself, and the reputation of the department. Choose one with good experience and a good reputation among lawyers. Also make sure you check out the school through the Online Better Business Bureau.

——————————————————————

How To Pay For School

Unfortunately, the state of the economy has hurt many students chances of being able to afford college tuition. However, online programs are eligible for grants and loans just like traditional college courses. Once you have applied and been accepted at your chosen university or college, complete and submit your FAFSA form immediately and get the financial aid ball rolling–if you wait until the last minute you will not have aid for your first term.

Search for your law degree online today–the field is growing rapidly, and it is growing now. Dont wait until everyone else has done it and taken your spot in the classroom and eventually in the workplace. Locate your ideal degree and apply today.

source: http://www.enjoylearningonline.com/online-paralegal-degree