Know About Registered Nurse Schools in New Jersey

A registered nurse in New Jersey must be thoroughly competent in nursing care and services. The state Board of Nursing also requires registered professional nurse to be able to make safe decisions while delegating tasks to licensed nurses, nursing aides, technicians, caregivers and other ancillary nurses, and supervising their works. They must also be capable of preparing patient care plans, assessing nursing needs, the implementation, and evaluation of the care.

There are multiple paths to get registered nurse education in the state. These tracks not only offer nursing competencies, but also provide eligibility to take the National Licensing Exam for RN (NCLEX - RN). The paths that can lead to licensure include Generic baccalaureate degree programs, Associate degree programs, and Diploma Programs. Currently, there are 18 Associate Degree programs, 18 Baccalaureate Schools, 7 Diploma Schools, 42 Vocational Schools, and 1 Entry-Level MSN - Nursing Program in New Jersey. These programs are approved by the New Jersey Board of Nursing.

The students can enrol in Registered Nurse Schools in New Jersey for these diploma and degree programs. These schools are licensed by New Jersey Commission on Higher Education (NJCHE) for providing degrees. It must be noted that only accredited programs that are granted provisional accreditation are eligible to admit students. However, the state law requires programs to complete few conditions to receive the accreditation and permission to admit students. These prerequisites include graduation of the first class, passing the licensing exam the first time by seventy-five percent first or second graduating class appearing for the exam, and submission of a self-study report by the Board showing the compliance of the state's Administrative Code (N.J.A.C) requirements.

N.J. A.C further requires that there must be a program administrator for every nursing programs. The qualifications of these administrators include a master's degree with an earned doctoral degree or a doctoral degree in nursing, and, administrator for Associate degree must hold a master's degree in nursing, in addition to qualifications included in the Administrative code. The programs must meet the accrediting agencies requirements or must be accredited by the Nursing Accrediting Commission (NLNAC) or the Commission on Collegiate Nursing Education (CCNE). The program curriculum includes various general education and nursing courses, in addition to the nursing practice act, and Organ and tissue donation and recovery.

The students seeking RN licensure must meet the licensing requirements of New Jersey law and pass the NCLEX-RN after completing the chosen programs successfully. The students can also apply for state, federal, and private foundation financial aids consisting of loans, grants, and scholarships.

The students can also apply for various state, federal, and private foundation scholarships, grants, and loans to complete their education.

You can also browse New Jersey RN schools for additional information on program requirements and list of nursing schools in the state. However, the details on RN certification requirements, procedures, online certification and other related information are available on Certification page.

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Home Loan Qualifying Tips for Self-Employed Borrowers

Qualifying for a home loan can be somewhat challenging in this volatile and forever changing market, especially for those who are self-employed. Although there are many factors to consider when applying for a mortgage, one of the main qualifying factors is being able to document enough income. For those who are employees of a company, most lenders will require the last two years W-2's and most recent paystubs. If the income is inconsistent or you want to utilize overtime income, bonuses, and/or commission then all that would be required is a written verification of employment, from the employer, breaking down the last two years. However, if you're self-employed here's where it could get a bit challenging because one of the main benefits of being your own boss is tax deductions. This is helpful when it comes to paying less to "Uncle Sam", but can be an issue when trying to verify sufficient income to qualify for a home loan.

Here are the income classifications for lenders:

• Employee: Individual is a W-2 wage earner and receives a paycheck. Taxes are usually withheld from the paycheck.

• Self-Employed: This includes everything else - a sole proprietorship, General Partnership, Limited Partnership, Corporation, S-Corporation. You can also be considered self-employed even if you are a W-2 wage earner from a company in which you have more than 25% ownership interest.

Listed below are 5 Helpful Tips to Qualify for a home loan when Self-Employed:

1) Establish Your Business:
Before applying for a mortgage you want to be sure that you have established your business for at least two years. The main reason is because lenders will require complete tax returns for the last two years to show the stability of your income. They will normally take an average of the last two years if your most recent year's income has increased. However, lenders will go with the most recent year if the income decreased, not take an average. As a good rule of thumb, always report as much income as possible, especially when thinking about purchasing a home within the next few years.

2) Limit Your Business Expenses/Deductions:
If you're getting ready to buy a home within the next 2 years try not to take many deductions. Most lenders can only add back your depletion (line 12 on Schedule C) and your depreciation (line 13 on schedule C), along with your mileage. Typically everything else will be subtracted from your gross revenue or receipts. Ideally, you would want to speak with your loan consultant and your tax advisor prior to filing to find out how much income you need to show in order to qualify for a home loan.

3) Maintain High Credit Scores:
Although this may seem obvious, it's still worth mentioning. Lenders pull a Tri-Merge credit report, meaning they collectively pull your credit history through 3 credit bureaus (Equifax, Experian, and Trans Union). They each provide a separate score and lenders will use the middle of the 3 credit scores. Ideally you want to have a minimum credit score of 740 or higher to obtain the best finance terms. Doing anything you can to increase or maintain a high credit score is essential for qualifying and getting the best mortgage terms.

4) Minimize Your Credit Obligations/Liabilities:
The other side of having good credit is to have low revolving and installment debt when applying for a mortgage. This is an attempt to keep your overall debt-to-income ratio as low as possible. Try to have car loans paid off, or at least paid down to less than 10 months of payments remaining (that goes for any installment debt). Make sure student loan payments are minimal or paid off. Don't co-sign for anyone if you're planning on buying a home in the next few years. If so, try to switch out of your credit/name prior to applying. Also, be sure to keep a small revolving balance on credit cards. That way if the lender requires it to be paid off prior to closing it should be attainable without breaking the bank. Under the new mortgage guidelines borrowers are supposed to have a debt to income ratio of 43% or less. I will be posting a blog next week with easy tips for maintaining good credit.

5) Evaluate Your Assets For Down Payment:
The more funds you have for a down payment, the more purchasing power you have. It will also help your case in underwriting with compensating factors when you have more liquid assets for the down payment. It will help if you can come in with more than 20% down when self-employed. In addition to the down payment it will also help to have roughly 3-6 months of payments in some form of liquid asset. These assets can also be in a retirement account such as a SEP IRA.

I've been helping people become home owners and helping people refinance their existing mortgage for over 12 years. I pride myself in giving every single client the absolute best service and mortgage terms available.

For more Information or to get qualified call/text/email or visit my website below:

Cell: 619-250-1937
Office: 858-368-4690
Email: jpollington@aplemail.com
Website: http://www.TheMortgagePlanner.Info

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Fostering Beginning Braille Literacy Skills in a Supportive School Library Setting!

School Libraries! A placed filled with endless literacy opportunities and reading adventures. Just take one look around your school library and you will find numerous ways to foster reading, writing and literacy skills in the large print and Braille reader. Find countless positive ways to successfully instruct, integrate and model the seemingly endless low vision and Braille educational tools! Foster the use of large print, twin vision (Braille/print) and Braille specialized materials into library lessons along with sighted peers. Your large print and Braille reader will enjoy the real meaning of "Least Restrictive Environment" as well as fostering positive educational interactions with sighted peers. The benefits are great when you share large print and Braille specialized resources in a positive structured or incidental educational setting. Specialized materials and strategies will promote maximum literacy skills for your large print and Braille reader as well as provide a unique opportunity for sharing these materials and techniques with the sighted student.

Promote and cultivate your low vision and blind child's literary skills and reading success in the school library with meaningful, low vision, large print and Braille specialized accommodations and materials.

1. Introduce your child/student to the librarian and library staff prior to the first day of school.

2. Schedule an Orientation & Mobility lesson with your child's O & M specialist to explore the school library. This lesson can be coordinated with your Teacher of the Blind to address specialized material needs and low vision/braille labeling.

3. Discuss stocking the library with large print, twin vision (braille/print) and Braille books with consideration of your child's age/grade and/or reading level. The library should contain a selection of books for the large print and braille reader that corresponds to book titles provided for the sighted student. In addition, include specialized titles demonstrating positive low vision and blind role models fostering a positive self-image. Include high motivational reading materials to address your child's specific reading interests and hobbies.

4. Identify a specific location in the library for large print and Braille books. Label each section appropriately in large print or Braille so that they are easily accessible by low vision and Braille readers. Continue to integrate and build upon your library with a combination of new large print and Braille books and books already read (and no longer required) from the classroom, Braille lesson and/or home setting.

5. Having a large print and/or Braille book section in your library provides the librarian the opportunity to include these books into small group reading activities. It's a great opportunity for the librarian to integrate specialized large print and Braille materials for the low vision and blind student along with sighted peers in a naturally occurring educational setting.

6. Make sure that your large print and Braille reader has a laptop copy of the book being read by the librarian/staff. This provides the student with the opportunity to follow along and develop visual and/or tactile tracking while developing literacy skills. It's about taking advantage of every literacy opportunity in each incidental educational setting.

7. Build your low vision/blind students confidence by having them read a favorite or familiar large print or braille book to a small group of peers or even a younger group of students. Reading to peers is a functional use of low vision and/or Braille materials in a wonderful natural school setting.

8. Incorporate auditory keyboard software on one of the library computers and in the school computer room to develop beginning keyboarding and literacy skills. Keyboarding skills are essential and should include both 6-key and QWERTY instruction. Make sure your child's technology/keyboarding skills, goals and equipment needs are individually evaluated by your technology specialist. He/she should be familiar with the most updated assessment, software and material tools for the low vision and blind student. Initiate student keyboarding early and practice often while integrating technology skills into the classroom setting. Enlist appropriate staff (teacher, Braille teacher and Occupational Therapist) to develop your child's finger strength, accuracy and speed of keyboarding. Remember that keyboarding including both 6-key and QWERTY opens up a world of options when making future technology choices. Six-key and QWERTY keyboarding is also an opportunity to reinforce true literacy using both the Literary Braille code and spelling as used by the sighted.

9. Consider having a high contrast computer keyboard for your low vision student. Consult with your Teacher of the Blind and Partially Sighted regarding specific keyboard contrast recommendations.

10. Work with your librarian in developing a large print or Braille library card. This is a functional way to encourage reading and develop the typical responsibilities for "checking out" and "returning" low vision and/or Braille books in a timely manner.

11. A consistent supply and rotation of large print or Braille books provides ongoing accessible lendable literacy resources for your low vision and/or blind student while encouraging reading in the home setting.

12. There are a variety of school magazines available to the low vision and Braille reader. Consider placing large print and Braille magazines in the library as resources for loan. The American Printing House for the Blind is a good start to discover some of these useful material resources.

13. Label book shelves in large print and/or braille as required for your student. Labeling book sections will foster beginning organized tactile scanning skills. Shelves can be organized into grade level, twin vision/braille, subject matter, fiction/non-fiction, biography etc.

14. Helen Keller week is typically celebrated in the school setting. Make the most of this celebration with inclusion of a low vision and Braille "show and tell" of specialized materials presented in the library setting. Include items that Helen Keller would have used during her lifetime in addition to low vision and Braille specialized materials used in today's educational setting. Showcase Braille books, a Braille Writer, slate & stylus, cane and Braille materials used by your Blind student.

15. Include large print/Braille books of historical figures and famous low vision and blind individuals that made a significant positive contribution or present as great role models. There are a variety of good books available and these should be included in your student's library selections.

16. Establish a connection with your local library. Identify the process of obtaining appropriate large print and braille books for your child/student from the local library. Discuss appropriate larger print and Braille labels so that your child/student can navigate the appropriate book sections. See if your local library would like donations of your child's gently used braille books to build their braille book collection. Donations of gently used braille books may be a welcome resource. Consider an orientation and mobility lesson for your child in the local library setting.

Actively seek out your child's Teacher of the Blind and Partially Sighted, Orientation and Mobility Specialist and technology specialist to address your child's specific individualized educational library needs.

Even though this is not an inclusive list, it should get you off to a good start in addressing individualized library accommodations for your child.

So, don't forget to establish a large print and/or Braille lending library to develop your low vision and Braille reader's literacy skills!

BRAILLE LITERACY...

Make it an everyday experience!

Patricia Brown, M.Ed., as the owner of http://www.braillethis.com, has worked over 30 years in the field of special education, learning disabilities and blind & partially sighted. Visit her website for more information on print to Braille Literary and Nemeth transcription services, Braille adaptations of toddler books and Braille interlining services.

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The Evolved Economy Makes It Simple to Relocate!

There are 196 countries, 3,159 major cities (defined as a city with 100,000+ people,) and 24 different time zones around the world. There are at least 50 spots identified as "the most romantic" place to get married and/or to honeymoon around the world - ranging from urban and chic to remote and adventurous. With all these choices and possibilities, do you really want to spend your life commuting to a cubicle? Or heading off to your local business to find your employees didn't show again? Have you even been to any of the 50 best spots, 196 countries, or over 3,000 cities? How many of the time zones have you spent time in? What are you waiting for? If you could, where would you go first and how many would you go to in a year? You can, you know!

Imagine this. Close your eyes - (no, wait, you can't you have to keep reading!)

You are single. You travel as often as you want, wherever you want. You have adventures, you meet new people, make lifelong friends, and you feel so alive! Or you have a home base but once a quarter you spend 4 weeks working from your favorite destination - say, Bali.

You're married. You and your spouse are both "retired" from your corporate jobs - at the age of 28, or maybe 30. You did your 'time' for 10 years and now the two of you live where you want, for example, near family in the northern regions but for two months at a time you choose to relocate to someplace warm and tropical just for a change of pace, and because you can.

You have a family: kids, dogs, a fun and crazy busy life. You know that your kids can go to any college or university they choose and graduate debt-free. You take family vacations around the world so your kids know first hand the beauty of the planet. You adopt more kids or causes, you build schools and take your kids with you for hands-on volunteering and contribution at an early age, experiences which enrich their lifetimes beyond measure. You have a child that excels at a sport -competitive snowboarding, maybe, and you can move from the city to the mountains so she can work with the best coach on the best mountain to have a shot at manifesting her dreams. Your lifestyle provides this, makes this happen for the ones you love.

You have aging parents with health concerns, siblings or family members with special needs, a parent who sacrificed everything for you and your siblings and now you want to give back and provide a life of comfort and security for them - plus give them some fun treats like visiting places they always dreamed of seeing, just to tell them how much you love them.

What resonates with you? It depends on your stage in life, of course. That's the thing. The Evolved Economy can meet you where you are! It isn't limited by age or gender or geographic restriction. It won't limit you!

Borrowing from Eric Worre, there are 5 job categories: blue-collar, white-collar, sales, traditional business ownership, and investing. Are you currently tied down by one of these?

Of course, there's also unemployed and under-employed and too many of you are probably here.

In the "old days" you went to school, got a "good" job, stayed there for 40 years, and retired modestly, probably having lived in the same place since childhood. In the more recent model, you went to school, got an unpaid internship, worked freelance for awhile, struggled with no benefits and big student loans, got the job for the steady pay-check and benies, and then changed jobs every few years because of politics or relocation of a significant other. But you're starting to have that sinking feeling from stories you're hearing that when retirement rolls around there won't be enough money to retire so you'll need to keep reinventing yourself to get that almighty paycheck.

In traditional business ownership there is the small brick & mortar business - whether that's a cupcake store or a boutique clothing store or a restaurant. Lots of people turn to this option when they can't get a job or they are tired of working for someone else. It's a trap! The other type of "real" business is a franchise that has an expensive entry point and a set of rules that make success challenging. There's self-employment which usually means consultant or professional - like a chiropractor or an attorney or an insurance agent. You are still trading hours for dollars, you have a second mortgage on your home to finance your business, you are in debt and boot-strapping and counting every penny - even if you're living large by appearances, the picture isn't as pretty as it seems. When you measure your stress, it's not good.

Investing sounds awesome, like hitting a jackpot. The reality is you need a lot of money to get started, you have to be able to afford to lose money, and you have to have tremendous knowledge and skill, oh... and time. You have to have time to ride out the ups and downs.

Today, beyond doubt, the better way is the Evolved Economy. It's virtual which brings us back to the premise that you can live anywhere. Location, location, location - for you! Because your customers will be global which means there will be lots and lots of them. Can you say diversification? You aren't dependent on people walking past your store. You won't have to lease or own any real estate - no maintenance, no worries about mortgages or leases that eat into your margins. You own your own business but your business doesn't own you. If you have a smart phone or a tablet or a laptop and a connection, you can work - via skype, Google hangouts, webinars, conference calls - or even face-to-face meetings at your favorite coffee house or park or beach or hiking trail. It doesn't matter.

You design your life! You choose your co-creators! You attract the leadership that you choose to link arms with. You are never alone in the Evolved Economy business world. You are surrounded by high energy, positivity, freedom-seekers, doers, givers, contributors - people who are sharp and funny and genuine and who have integrity. You surround yourself with people you learn from, who drive you to be your best, who honor you, who you respect and trust and strive to emulate. You work from anywhere and everywhere, coming together at key points during the year for major strategy sessions, and then flying off again to all points of the compass.

This is YOUR life! Who said you have to play by the rules? Who made the rules anyway? Be fulfilled! Live this journey! Discover yourself while you discover new places! Develop yourself, be fulfilled, serve your family and your community, do good in the world. We get one planet and one life. Why would you miss out to have a paycheck when you can fully participate, set goals, break records, and support your co-creators to do the same?

An Evolved Economy business makes it simple to relocate, whatever that means to you.

And now, there is only one step left that's required to manifest your dream location, your dream workspace. You simply have to act! Take the action now to make your dreams real, to live the life you've always longed for, to travel or to stay home with your kids, to contribute and make a difference! Act now, email or call, message, find the person who sent you this article, but take action and free yourself to be yourself, anywhere! Tell us you are so ready to move on and move out and you want to own your own Evolved Economy business. Do that and you'll be in business in the location of your choice. And if you change your mind tomorrow? No worries - just move! Simple!

We would be honored to have you choose to co-create an Evolved Economy business. To learn how to get started, contact the person who referred you to this article.

If you found it independently and wish to know more, all my contact information is in the "resource" section. There's no time like the present and the most successful entrepreneurs take action promptly - here's to your commitment to action right now!

It would be an honor to co-create an Evolved Economy business with you. To learn how to get started, contact me by phone, email, or message me through Facebook. Jamie Wolf, Mentor & Trainer, +1.843.694.7443 US EST, Jamie.Wolf@theStartOver.com, https://www.facebook.com/jamie.wolf.581

If you want to get on the fast track then join the Health & Fitness Business Boot Camp, a 12-week virtual program designed so that you graduate with a revenue-generating Evolved Economy Business in just 3 months! To learn more, visit http://www.auntyjamie.com

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An Overview of The Fast Cash Personal Loans

What are they?

The lending and borrowing business has evolved into need-specific debt instruments available for various categories of expenditure e.g. car loans, student loans, mortgages etc. Personal loans has emerged as a distinct category that covers relatively less expensive ventures like family trips, renovating your home, planning your wedding or auto repairs. Personal loans are always:

• Multi-purpose small loans - lowest minimum amount available compared to other categories
• Short-term - span between one to five years
• Unsecured - do not require collateral
• Fixed rate - the amount you have to pay back per installment is pre-determined so it is easier to budget
• Easier to transact - their application form and internal processing is comparatively hassle-free

Who can apply?

Personal loans are available to all working adults with a good credit history. Before submitting your application you should be aware of your credit score and asset portfolio. Since personal loans are taken out without pledging any collateral, the lender has to safeguard their interests by charging comparatively higher markup rates than other debt instruments. However, a strong credit history and steady income stream allows you to negotiate a better deal for yourself. If you do not know your score, sign up for a credit monitoring service and cancel in the grace period once you have received the initial, charge-free result.

Why apply for them?

A huge benefit of such a loan is that it allows debt settlement. You can merge all your various credit streams into a singular payment and if you make your payments responsibly, this creates a new line in your credit report and helps you boost your credit worthiness as you pay down your loan.

Compared to other short-term lending schemes like bank overdrafts, payday loans and pawnshops, personal loans are much more secure. Especially if your credit score is not as favourable as you were expecting, a high markup personal loan is still a safer bet than no-credit-check offers which seem attractive at first but can brew a financial storm for you and cause all your assets to be repossessed.

Where can you find them?

Personal loans are available at different institutions like:

• Banks (commercial)
• Peer-to-peer lenders (for profit enterprises e.g. Prosper and Lending Club)
• Payday lenders (commercial)
• Credit unions (not for profit)
• Credit building groups (not for profit)

Depending on where you go, your chances of qualifying, markup rates and terms & regulations vary accordingly. At commercial institutions the rates are higher but easier for you to qualify. However, if you really need to sort out your financial situation, unions and credit building groups are local bodies that have a price cap on the rates they are allowed to charge and can rescue you from your credit quandaries.

To find out more about fast cash loans simply visit 500fastcash.co. It is also available to apply for such loan at 500fastcash.co/apply.html

Article Source: http://EzineArticles.com/?expert=Grigoriy_Anoshenko

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Are YOU Tired of Living Paycheck to Paycheck?

Early on in life, most people believe they have plenty of time to save for retirement or save for unexpected things that come up along the way. Obviously, that is a fallacy.

Today, most Americans have no Emergency Fund. Their emergency fund is the credit card!

It's funny when a client tells you, "I'll start saving when I have no more debt." My question is to them, "Do you have a plan to pay off your debt?"

Their response is usually "No, not really", or, "We use our tax returns to pay it off." My response, "What did you do last year?"

Their response, "Paid off debt." Year before? Paid off debt. You see the trend here?

No one really has a defined plan to pay off their debt. People will go out of their way to either, Avoid Pain or Gain Pleasure... to avoid the problem.

One thing is for sure... THE PROBLEM IS GROWING FASTER THAN THE SOLUTION.

The average American household carriers $15,000 in credit card debt. That's not counting car loans, student loans, mortgage, etc...

The average American household income is $51,000.

As you can see here, there is a financial divide between MAIN Street vs. WALL Street!

The rich keep getting richer, and the middle class keep moving further and further down the wealth later into poor or poverty. They can't gain any financial altitude.

As we were growing up in school, we were taught about currency... A penny, nickel, dime, and quarters, but no one ever taught us how to turn that penny into a quarter!

People today are more focused on paying off debt than paying themselves first. I'm not saying, not pay off your debt, but if you strategically planned out your personal financial situation, you could do both.

Then they tell you, "I heard this on the internet or TV." My response... "OK, do those people sit down and actually go through your personal situation with you?" The fact is, everyone's situation is different and I've never had any family or person with the same situation.

The internet and television can be a prescription or a poison. If I went and read an article on your career or job, do you think I could do it as well as you could? You can't believe everything you read or hear on the TV or Internet. Most of the time, it probably doesn't apply to your situation.

Or they say, "Well my friend told me... " Is your friend financially independent and out of debt? "No... " So why are you taking advice from them?

Sometimes it can feel like there is no hope to get ahead financially, but the fact is, with a few little tweaks in your budget and personal financial situation, it can make a huge difference!

There is a high cost to waiting and TIME is our WORST enemy!

When you're in your 20's (depending on the age your start), you could save (hypothetical) $200-500/month and hit $1 million in retirement 40 years later.

If you start in your 30's, to hit that same number at that same time, you will need to save $500-1,200/month. If you're in your 40's, $1,500-$5,000, when you have 10 years or less to retirement, you will need to save $5,000-$15,000 to hit that same number to retire at the same time as that person who decided to save $200/month at age 20.

The best way to put time on your side is to start saving today!

We need to stop thinking small and start thinking BIG. Create a VISION for ourselves and turn our excuses into reasons "WHY" we are going to get things done!

If your WHY is big enough, the what and how will come naturally, if you put yourself in the right place, at the right time, surrounded by the right people, your life could change dramatically.

If you thought you were doing something right your entire life, to later find out it was wrong, when would you want to know?

For more information and helpful tips on how you can eliminate your debt... create an emergency fund... and create options for your future using our 7 step process... go to: http://www.bryanregnier.com/

Article Source: http://EzineArticles.com/?expert=Bryan_R_Regnier

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Name Every Dollar

More Money Will Not Help You

You get a raise every year and you are still broke and deep in debt. Your tax refund came in and for some reason two weeks later you are broke again and piled up more debt. You are one paycheck away from financial disaster. What are your options? What can you do?

You can get a second and third job. Chances are you will spend that money, too. Go ahead and start a business. Do you have the time and patience to learn a business and make it successful? What business will you start? Will it be offline or online? Will your spouse or partner agree? Do you have the money to really invest or will you listen to some Guru and go into more debt with a venture you don't understand. Oh yeah, you are still broke.

More money will not solve your problems. Most people get raises and windfalls and still live from paycheck to paycheck. Athletes and entertainers make a boat load of money and end up broke. More income is not a problem solver. Naming every dollar is.

I Beat Debt

I beat debt by naming every dollar and coming up with a monthly budget. I owed the IRS, the state franchise board, student loans, personal loans, business loans and credit cards. I decided that I was going to become debt free. I even put #DebtFree2014 on my Instagram photos. I picked up the book The Total money Makeover, by Dave Ramsey. I read it 5 times within 7 days and implemented everything in it. That was November 2013.

In January of 2014 I joined Financial Peace University and within 9 weeks I paid off all my consumer debts and saved over $12000. I only owe student loans. As of today I still put 20% of my income towards paying off my debts. January 31, 2015 I will be debt free.

How did I do this in such a short period? By naming every dollar. I got control of my money and I became the master of it. No longer will money control me. No longer will I be a slave to debt and bill collectors.

It will take about 90 days for you to get used to living on a budget. When I did my first cash flow plan (budget) I saw that I had an extra $500 to put towards my debts. After 90 days I had an extra $1100 to pay down my debts. I did this all with the same income.

Follow these 5 Principles I used for Naming Every Dollar.

Naming Every Dollar

Principle One: Decide to Be in Control

I made a decision to get control of my finances. Decide now that you will control your money and become debt free. You can join a Financial Peace University class in your area. Search online or go pick up a book. Decide and take action.

Principle Two: Change Your Mindset

Money is amoral. It's neither good or evil. It is used to exchange goods and services so leave all the emotions and feelings out of it. Get rid of the myths and opinions about money.

Move from being a spender, debtor, and doubter to becoming a frugal spender, saver, and investor. Become a master of your money. Have your money start working for you. Make your money pay off debts and build wealth. Force it to grow.

Principle Three: Monthly Budget

Oh the dreaded budget word. Makes you feel restricted. Well sorry get over your fear of restrictions. Every successful business and person has a budget. Look at your last 3 months bank and credit card statements. Find out where your money is going. The last 90 days is a snap shot of your monthly spending.

This could be exciting or a horror story when you find out where your money is going. Some people are surprised when they find out how much their debt payments are. Others are shocked at the $1200 they spend every month at restaurants. People also find out that they are at a negative and are in deep financial trouble. Get over the shock and make a plan.

Principle Four: Name Every Dollar

Now to the main point of this article. Naming every dollar is the key to financial success. What does that mean? It means you know where all your money is going. You give it a name and assigned it somewhere. It also means that you start paying with cash. You feel it when you spend cash. It's no over-spending when you use cash.

You create a monthly budget. Then you give your money a destination. Every dollar is accounted for. There shouldn't be a surplus left ever. You spend all of your money. Now I am not saying go broke I am saying you have a zero balance at the end of the month because you assigned all your money to something.

You should not have a surplus. Surplus money that is not assigned a destination gets kidnapped by the pizza guy, kids, and shopping sprees. Now I know I have just confused some people. Yes your balance should be zero every month. You are assigning money to your savings, bills, fun, and debt payoffs. Now do you see why I said zero balance. Account for every dollar.

When you name every dollar and designate it to spend, save, or pay debts you are in control. You are the master commanding your money to perform. This is your foundation to creating wealth. Your budget tells you what expenses to cut and if you need a serious intervention.

Principle Five Accountability Partner

You don't succeed without a team. Couples your partner is your partner. If you are single find someone who will tell you the truth. Your partner will keep you on track and make sure you don't lose control.

Naming every dollar is a simple process but it takes discipline, self master, and a plan. It is not a one time thing but something you will use for the rest of your life. Debt freedom and wealth are yours when you name every dollar and control your money.

Charles Fitzgerald Butler, is an entrepreneur and expert in internet marketing. Charles has a passion for helping people start and run successful home businesses. You can partner with Charles and start building multiply income streams from your home. Charles' goal is to help all who partner with him achieve cash flow and profits from their business.

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Helping Families Create Wealth Through Real Estate and Entrepreneurship. Watch the Video for Here: Marketing Systems

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Factors that make Student Auto Loan Approval as Easy as ABC

Many American universities are promoting car-free campuses by offering free bikes to students and charging hefty fees for parking permits. But, if your university has inadequate student housing facilities and limited public transportation service, you need a car to attend your classes.

When you decide to buy a car, you have to undertake the process of auto financing. It is because most of us don't have enough spare cash to buy a car. Students are overwhelmed by the very thought of auto loans because they are buying a car for the first time and they don't know much about it. But, if you understand the following factors that are considered by lenders, you will realize that getting approval on student auto loan is easy as ABC.

A for Approval Criteria

Even though lenders have different approval criteria, few things remain common like:
1. You must have a Valid Social Security Number
2. You must be minimum 18 Years of Age
3. You must possess a Certificate of Enrollment(Proof that you are a Student of University)
4. You should earn Regular Income (Part-Time Job is Acceptable)
5. You should have Employment Proof (Employment Verification Letter is Satisfactory)

B for Budget

You must prepare a budget before starting your car shopping. It will enable you to narrow down your list of favorite cars. Once you know your affordability, it will be easy to choose the best-in-your-range car model.

So, list down all your monthly expenses and income along with any allowance that you receive from your parents. Calculate the amount of money that you can spare for monthly payments. It will help you in selecting the ideal student car loan program.

C for Co-Signer

Anyone can be a co-signer as long as he/she has a good credit score and lower debt-to-income ratio. If your parents have lower debt and can manage the responsibility of your car loan, you can ask them to co-sign your student auto loan contract. Don't worry if your parents stay in another state. Most lenders don't have a problem with an out-of-state co-signer.

D for Down Payment

The down payment amount is helpful in reducing your loan amount and projecting a stable financial situation to the lender. But, most students don't have enough cash to make down payment. So, you can ask your employer for an advance or convince your parents to lend you some money. You can even ask your parents to sell their old car to generate money. Trading the old car can also be an option for lowering the loan amount.

So, these are the factors that can help you in passing the test of student car loan with flying colors. Use them and get ready for easy auto loan approval.

Rapid Car Loans provides easy student auto loans approval. Don't worry if you are a first-time buyer. The low rate auto financing provider offers special first-time car buyer's program. Apply now and buy your favorite car today.

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The Business Loan Calculator: The Unsung Hero For Real Estate Investors

A business loan calculator is one of the most efficiently used tools for tabulating figures when it comes to all different types of financing; whether investing in a car, a boat, or even applying for a student loan, getting financed is usually the first of many steps to completing each respective transaction. These types of small loans can give prospective borrowers a head start into the world of finance on a larger scale, which is when mortgage calculators will play an even larger role. When it comes to commercial real estate loans, having access to a business loan calculator may be an absolute imperative.

When dealing with small loans or otherwise, balancing many equations along the way will often require area-specific mortgage calculators to ascertain amortization or payment schedules, interest rates, and extra added expenses as well. Whether just getting started or looking to expand operations, commercial mortgage rates can easily be factored in with fixed-rate SBA loans, as to where adjustable rate contracts may require some additional number punching. Either way, knowing the estimated and/or the exact costs entailed with each loan setup will usually necessitate the use of a business loan calculator.

Start-up commercial mortgage property proceedings will often entail the whole nine yards when it comes to figuring out origination fees, closing costs, and everything else in between. It's a good idea for those getting their feet wet to employ the use of the many different mortgage calculators. These can be found on a number of websites dealing in commercial real estate loans.

In fact, most any business that deals with financing will provide its own free-of-charge setup for potential customers to play around with. While each respective business loan calculator display will often vary in scope, first-time investors will be able to see how these devices work in a general sense and eventually get a better feel for all that's entailed.

Some mortgage calculators are capable of keeping track of extra expenses, while others are able to perform bare-boned functions only. Business owners looking to build from square one via SBA loans can easily find specialty calculators capable of factoring in construction material costs, labor, and inventory. Those taking out small loans will be able to budget accordingly without overextending themselves. Although business loan calculator functions will vary from site to site, helping company owners secure the bottom line remains the primary objective, while attempting to recruit new clients is also a welcome byproduct.

For those whose small loans have managed to build some equity, refinanced commercial real estate loans will also require some additional math. In many cases, experienced company owners looking to expand their services will have increased inventory and new hires in order to cover the workload.

Keeping track of both may only be the beginning; once again, using a business loan calculator for equity loans will help ease the burden for proprietors in a few areas. First off, commercial mortgage payments will have likely decreased; secondly, the interest rates can often be monetarily advantageous as well. Whether starting a business or looking to expand operations, mortgage calculators are necessary tools along the way to achieving sustained success.

At the present time, a number of SBA loans are tailored to suit each phase of the borrowing process, meaning that the Small Business Administration is more than interested in the success of those who use their small loans in order to prosper. A business loan calculator seems to be an integral tool of the trade, from start to finish.

Joe Mackey has spent 22 years in the real estate industry, covering market trends, acquisitions, valuation and lending. As one of the top commercial mortgage lenders online helping investors and business owners alike obtain the best loan term options through multiple business loan calculator scenarios. For commercial property, he constantly strives to help those he's associated with obtain a better understanding of their investment. Call him today and you'll quickly see why his commercial lending expertise is vital for your financing needs.

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Can I Get Student Loans Discharged in Bankruptcy?

One of the questions I get asked most as a bankruptcy attorney is, can I discharge my student school loans in bankruptcy? Most bankruptcy attorneys will tell you that it's not possible, but this is simply not true. The process to discharge debt associated with your education is not a simple or automatic process, it takes some effort, but is well worth it in the end to discharge some or all of your student debt. Section 523(a)(8) of the US Bankruptcy Code states that student loans are exempt from forgiveness, unless it poses an "undue hardship." For the vast majority of people who have a five figure student loan or loans, paying the exorbitant fees every month certainly feels like an undue hardship, but the bankruptcy court interprets the term of "undue hardship" very specifically. But the good news is that recent cases have been coming out that give students with loan debt some hope for relief.

The simple fact is, that most bankruptcy attorneys will tell you that it impossible to discharge such debts in bankruptcy, is either inexperienced or simply not wanting to go through all the trouble to do so. This is why it is so important for you to find an experience bankruptcy attorney, not simply the cheapest one you find in your Google search. The following is a brief explanation of some of the requirements to discharge your student loans in a Chapter 7 Bankruptcy.

Your first step in obtaining a discharge on your student loans is requesting a discharge. Most people are under the erroneous belief that you cannot obtain forgiveness of these loans, so most never try and most bankruptcy attorneys have no idea of what I'm about to tell you. Here are some interesting statistics to prove this point. According to a Harvard Law School study of people who have student loans and file for bankruptcy, out of that group of people, 99.9% of them never attempt to discharge this debt in their bankruptcy filing. That in itself is a staggering figure. Of those that actually request to have the student debt discharged in bankruptcy, 40% are granted either a partial or total discharge of their loans by the bankruptcy court. Now think about that for a minute, almost half of everyone asking for a discharge of their student loans are receiving them, but 99.9% of people with student loans who file for bankruptcy never even ask. This equates to approximately 70,000 people who file for bankruptcy each year qualify to have their student debt discharged or partially discharged, but only 0.01% of those 70,000 even try. This means 28,000 people a year who could discharge their student debt in the bankruptcy petition they file, never even try. Let that sink in for a minute people...

The second and possibly most important aspect of obtaining a discharge for student debt is, do you qualify? The most commonly used test for determination if a student loan qualifies for a bankruptcy discharge is called the Brunner Standard. This standard is based on the following case: United States Court of Appeals, Second Circuit. Marie BRUNNER, Appellant, v. NEW YORK STATE HIGHER EDUCATION SERVICES CORP., Appellee. No. 41, Docket 87-5013. (Cite as: 831 F.2d 395) the ruling of this case has given us three circumstances that must be demonstrated for a person attempting to discharge student debt to qualify. These rules are as follows: 1. If you were to repay your student loans, you would not be able to maintain a minimum standard of living for yourself and/or your family; 2. The financial circumstances that led you to be unable to afford your student loans is likely to be present throughout the remainder of the repayment period of those loans; 3. You have attempted in good faith to pay back your student loans. If you can simply satisfy the three standards, it is certainly worth your time and money to attempt to have your student loans partially or completely discharged in bankruptcy.

The third criteria, if you wish to obtain forgiveness on these debts through bankruptcy, you must take extra steps, which are not covered under your usual attorney client retainer agreement for filing a bankruptcy. What does this mean to you? It means that besides for filing for bankruptcy and the normal legal fees and filing fees associated with that, there will be additional legal work that will need to be paid for this service, outside of the attorney-client retainer agreement for your standard bankruptcy. With the vast majority of debts that are usually filed in bankruptcy, you simply list them in the schedules of the bankruptcy petition. This is not the case for student loans, with student debt your bankruptcy lawyer must file what is called an "adversary proceeding" in bankruptcy court. These adversary proceedings are actually a completely separate lawsuit, filed in bankruptcy court, associated with your bankruptcy filing petition. Essentially what this is, you file a lawsuit against the lenders who own your student loan debt, in order to get some or all of that debt forgiven. It is extremely important to understand that this is a very complex area of law, and one that you should always have an experienced bankruptcy attorney working for you. Many people attempt to file for bankruptcy on their own, I would never suggest this, I will not even attempt to describe this process, as it is not within the scope of this article. Get yourself an experienced bankruptcy lawyer to help you do this.

The fourth important thing that was determined by the Harvard Law school study, which are characteristics that are common to almost all bankruptcy cases that student loan was forgiven are as follows: 1. The debtor (the person filing for bankruptcy protection under the US Bankruptcy Code), was more likely than not, unemployed; 2. The debtor usually had some form of medical hardship, which contributed to this situation; 3. the debtor usually had a lower income than the previous year they filed their bankruptcy petition. These are not clear-cut requirements, which have been described previously in this article, but these are facts that were most likely common to all bankruptcy filings that resulted in the discharge of student loans debt.

Finally, the last important part of the equation is that you must file for Bankruptcy under Chapter 7 of the US Bankruptcy Code. The two most common forms of bankruptcy used are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. In a Chapter 13 Bankruptcy you (with the help of your lawyer) establish a debt repayment plan (which must be accepted by the Bankruptcy Court), in which you repay a portion of your unsecured debt based on your income and expenses, over a three to five-year period. In a Chapter 7 Bankruptcy you are allowed immediate forgiveness of these unsecured debts, with a few exceptions such as student loans, alimony and child support. To file the adversary proceeding that was described previously in this article, you must be in a Chapter 7 Bankruptcy. This option is NOT available in a Chapter 13 Bankruptcy.

In conclusion, if you think you fit the requirements described in this article and are receiving undue hardship due to the repayment of your student loans, then bankruptcy is an option you should look into. This is why it's so critical to find an experienced bankruptcy lawyer who understands the US Bankruptcy Code. As in another article I previously published about discharging income tax debt in bankruptcy, discharging student debt is another little-known fact about bankruptcy law that only an experienced bankruptcy attorney would know. One good way to determine if you're sitting in the office of an experienced bankruptcy attorney is to ask one of the two following questions: Can you discharge student loans in bankruptcy? or Can you discharge income tax debt in bankruptcy? If either of these questions is answered in the negative, you are in the office of the paper pusher and not an experienced bankruptcy attorney. Like anything else in life, you get what you pay for, and shopping for attorneys based on price is a very costly way to learn this life lesson.

Joseph F. Botelho, Esq.

BOTELHO LAW GROUP
Attorneys At Law

http://fallriverbankruptcyattorney.com/

901 Eastern Ave.
Unit 2
Fall River, MA 02723

Office: 888-269-0688
FAX: 877-475-8147

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Registered Nurse Schools in Hawaii: Ideal Destination for Nursing Education and Licensure

If your nursing career goal is to earn better incomes working amidst natural beauties, then Hawaii can achieve your dream because nurses receive attractive wages in the state, higher than majority US states. Hawaii is also full of natural wonders and amazing views consisting of white sand beaches, warm tropical climates, active volcanoes, endemic flora and fauna, enticing waves, canyon and towering cliff, sea caves, and incredible sunrises. The students can enrol in Registered Schools in Hawaii for nursing education to enjoy these benefits.

The state also offers massive employment opportunities and higher salary to licensed nurses. The need for nursing services is higher in the Hawaii due to a greater inflow of visitors from all over the world, nursing scarcity, ageing population, and location of a large number of hospitals and health clinics. In addition, Hawaii is also coming up as the fastest growing 65 years and above population state in the country. According to the U.S. Census Bureau, 2010 Census Summary File, 14.3 percent of the total population in Hawaii consists of 65-plus, and 2.2 percent includes 85-plus population. These baby boomers and ageing population have constant health care needs, and RNs and other category nurses are best placed to meet them. The healthcare requirement of elderly citizens is also one of the crucial reasons for the increased nursing demand in the state.

Hawaii also ranks among the top 5 states that pay best salaries to registered nurses. The reasons for better salaries include the higher cost of livings and greater demand for nurses. According to the Wikipedia List of U.S. states by income, 11 July 2014, the state of Hawaii is one of the ten US states that have highest Median Household Income. The Bureau of Labour Statistics, 2013 also informs that the state provides employment to 10,300 RNs, and their Median Hourly Wage is estimated at $41.32, Mean Hourly wage - $41.05, and Annual Mean wage - $85,380.

However, for working as a nurse in the state, a registered nurse or licensed practical nurse must hold a Hawaii license to practice professional nursing. RNs will not be authorised to provide nursing services or delegate nursing tasks to licensed practical nurses, nursing aides, and other ancillary nurses unless they are issued a license. The process to earn a License include enrolling in approved RN programs, completing the program successfully, taking the National Council Licensure Examination for a registered nurse (NCLEX-RN), and passing the exam. The applicants who successfully pass the exam receive a license and permission to practice and delegate tasks.

Hawaii RN Programs

Presently, there are 6 Baccalaureate Degree programs and 4 Associate Degree Programs in Hawaii that can provide nursing skills and knowledge to nurses for competent nursing care services. These programs feature classroom instructions and extensive clinical training in approved nursing facilities. The programs must be approved by Hawaii Board of Nursing and accredited by the accrediting agencies recognized by the Board. The programs that do not meet the minimum standards set by the state law and Board are granted Probationary approval for a limited period. Simultaneously, notices are also served to these programs to rectify their discrepancies, but if the irregularities are not corrected within the stipulated time, the programs may lose approval of the Board.

The student to instructor ratio for a registered nurse and practical nurse program must be eight to one, and for clinical training, the ratio should not cross ten to one. The curriculum for the program must be approved by the Board recognized national accrediting agency. The curriculum consists of general and nursing courses and features 120 semester credits for Bachelor's degree including forty percent laboratory and clinical hands-on experience. The Associate degree curriculum comprises of sixty-four semester credits including forty percent lab and clinical training.

The successful completion of Bachelor's degree programs or Associate degree program by applicants allows them to take NCLEX-RN exam that lead to a licensure. The passing standard for the exam is determined by the NCSBN or the Board.

Financial Aids

In Hawaii, students can apply to state, federal, and private donors financial aids, consisting of loans, work, scholarships, and grants. There is also merit and academic record based awards. The needy students can also receive financial aids if they show financial needs.

If it is your wish to practice nursing in a beautiful natural surrounding and earn higher salaries, you can complete your education from Hawaii RN schools because the state offers handsome RN salary, higher than many states.

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Complete Registered Nurse Schools in Massachusetts for Quality Nursing Education and Paying Career

Massachusetts state law authorizes the Massachusetts Board of Registration in Nursing (BORN) to regulate nursing education and nursing practice. The board also approve nursing programs for initial licensure and monitor each program for compliances with the standard set by the law for the safe nursing practice by the program graduates. In accordance with the law, all nursing education programs in the state must receive approval from the Board. The approval designation of the programs includes Prerequisite Approval, Initial Approval, Full Approval, and Approval with Warning.

The state of Massachusetts is most sought after destination among the nursing students for Registered Nurse Training programs because the state offers best employment opportunities, high standard education, and attractive salaries to licensed nurses. They can seek employments in Physicians office, schools, home health, Hospital-based ambulatory, extended care facilities, Community Hospital/Inpatient, Chronic Care units, outpatients department, Academic Medical Center, and other health care facilities. The American Association of Colleges of Nursing (AACN) informs that in 2013, 121,469 Registered Nurses were registered in Massachusetts and out of these, 8.2 percent nurses were licensed as Advanced Practice Registered Nurses.

According to the Massachusetts Health Professions Data Series: Registered Nurses 2012 survey fact sheet, out of 93,566 nurses working in the state, 41 percent (38,397) have completed Bachelor's, 14 per cent Master's, 14 per cent Diploma, 1 per cent Doctoral, and 1 per cent Practice Doctorate programs. 20 per cent respondents, however, informed that they will pursue additional education.

RN Training Programs are also one of the crucial requirements for nursing careers in the state because the law requires nurses to be competent in nursing knowledge and skills. In order to earn nursing competencies and work permission, nurses should enrol and graduate from Registered Nurse Schools in Massachusetts and pass the NCLEX-RN exam for RN Licensure because the examination is a tool with the state government for assessing the nursing skills of nurses. The additional requirements include criminal background screening and possessing good moral character.

RN Programs features theory, lab, and clinical training, and the course curriculum include arts, humanities, science, and foundations of the profession. There are also few requirements that must be completed by the students for the admission to the program including the submission of the secondary school graduation evidence and compliance of the Massachusetts Department of Public Health specified immunization requirements.

The students to instructor ratio for clinical hands-on experience must not exceed 10:1.According to the BORN, there are 20 Associate Degree, 20 Baccalaureate, 7 entry-level graduate programs, and 1 Hospital-Based Diploma Program in the state.

According to the American association of Colleges of Nursing (AACN), in 2013, there were 24 AACN member schools in the state. These schools enrolled 8,643 baccalaureate, 2,842 master's, and 761 doctoral students.

There are also different types of state, federal, and private party Financial Aids for students who wish to pursue nursing and higher education. These aids are in the form of Loans, Grants, Scholarships, and Federal Work Study. The students can apply to these aids to ease their tuition and additional program related burdens.

Individuals who wish to receive quality nursing education for better employment opportunities can enroll in Massachusetts nursing schools for RNs because there is increased demand for competent nursing personnel in the state. The state is also famous for paying high salaries to practice nurses in the state. The complete information on RN salaries in the state is available on salary page.

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Information Needed When Applying for a Debt Management Plan (UK ONLY)

If you've finally understood that your debts have spiralled out of control and that you need to do something about them, what information do you need if you are applying for a debt management plan?

Quite simply, there are three main parts to apply for a debt management plan.

1) A breakdown of your budget

2) Information about the people you owe money to

3) Covering letters to send

Its not rocket science. Once you realise you need to help yourself then the way forward is relatively uncomplicated. Following these instructions can help you to manage your debts with an aim of getting debt free.

• A breakdown of your budget

You already realise that you can't afford what you are currently paying, so what can you afford each month. Calculating your budget is, again, quite a simple exercise. Include your income, including and state benefits, and then your outgoings. Don't exaggerate and be fair. If you go out every night and spend £100 per week at the pub, then this would be deemed unreasonable by your creditors. You would need to cut this down. Subtract your outgoings from your income and you should (hopefully) come up with a positive figure. Essentially this is the total amount you will be offering to pay to your creditors each month.

• Information about the people you owe money to

Firstly, and most importantly, you cannot include any of the following in your debt management plan: Housing costs - rent or mortgage, HP agreements, Court fines, CSA payment, student loans. If you are having trouble with these, contact your lender directly and immediately. For credit cards, personal (unsecured) loans, payday loans, overdrafts and other debts you will need the name of the lender, the credit agreement number and the debt value. Putting these in a table will make things quite clear.

• Covering letter to send

You will need to send to your creditors a breakdown of your budget and the list of people you owe money to. Attach to these, a covering letter explaining your circumstances and that you are hoping to make a reasonable offer of repayment each month. Suggest a value, in line with the budget and the other debts you have. Obviously the bigger the debt the more of the surplus you should offer. Effectively it will be on a pro rata basis.

Once you have posted these to your creditors, it will be about two weeks before you hear back from them. Some creditors will take longer.

You should then understand whether they have accepted and if they have frozen or reduced interest charges. Please remember than they don't need to do either.

One final thing... GOOD LUCK

Obviously a debt management plan isn't right for everybody and you should seek help from a professional debt adviser to know whether this is the best route for you. Free debt management plans can be obtained from http://www.debt-managementplan.net/free-debt-management-plans/

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College 529 Savings Plans

The cost of college has increased dramatically over the past 10-20 years. The annual cost of many private colleges and some public universities is now $50,000 or more, making the total cost of a college education $200,000+ per child in many cases. This enormous expense is very difficult for many students to pay for themselves without a very heavy debt burden that can last for decades and hurt their ability to buy a first home, etc. Overall student loan debt has increased dramatically over the past several years. Most students need help to pay for college from loans, scholarships/financial aid, as well as from parents and grandparents.

A good way for parents and grandparents to help their children and grandchildren save for college is a 529 plan. These plans can be low cost, easy to manage, and offer some nice tax benefits. Most states have set up their own 529 plans, but you don't have to use your home state's plan. You (and your child) might live in Minnesota, use the Utah 529 plan for college savings, and your child may end up going to college in California. That is OK. These plans can be set up by anyone (parents or grandparents) for the benefit of any child. Anyone can contribute to the child's 529 college savings plan (the child, parents, grandparents, relatives, friends, etc.). Most people keep their contributions below the current annual gifting limits of $14,000 per person ($28,000 per year for a couple).

What are the benefits of using a 529 College Savings Plan?

It can be a good savings tool that encourages you to increase your savings specifically for college costs for your kids or grandkids. They are also good gifting tools for kids and grandkids. The money in these accounts grows tax-free, and the money comes out of the accounts tax-free if used for educational expenses. Some states also offer some small tax benefits for residents who contribute to their 529 plans. The money can be used for any qualifying education expense for college, trade school, community college, graduate school, etc. You can change the beneficiary on the account to another child or family member if the child does not use some or all of the money for educational expenses. The parent or grandparent who sets up the account and acts as the custodian on the account retains control of the money, not the child. This prevents the child from spending the money on something they might find more "fun" than college costs, like a fast new car. Money in a college 529 savings account counts against you less than money in the child's own name for financial aid purposes. The FAFSA financial aid benefit for 529 plans is the parental rate of 5.64% of assets, much lower than the student owned rate of 20%. These plans are simple to set up, maintain, and manage. They are very flexible. There are no income limits or age restrictions on who can set up 529 plans or benefit from them. Annual gifts to a 529 plan are removed from your estate, for estate tax purposes. You can front-load five years of annual gifting into a 529 plan, or a total or $70,000 in one year, without violating the gift tax rule annual limit of $14,000 per year.

What are the negatives of using a 529 College Savings Plan?

There is some risk that your child or grandchild will not go to college or will not need the money due to scholarships, inheritance, etc. Withdrawn earnings are subject to a penalty of 10% of the earnings plus income taxes for funds withdrawn that are not used for college costs. For this reason we recommend people not fully funding the expected total cost of college, but rather to fund up to a maximum of 75% of the expected cost in a 529 plan. Your investment choices are limited to the funds offered in each state's 529 plan. You can only change your investment allocations once per year in a 529 plan. You don't get a tax deduction for making contributions to 529 plans (Federal or Minnesota). You can't get the gifted money back without penalty. It is a one-way transfer. If your child or grandchild is already older and closer to college age (age 14+ for example) the benefits of the tax-free growth in the 529 account are significantly reduced.

Which of the 50 state's 529 plans do we like best?

We like the Utah 529 plan. It is one of the lowest cost plans in the country. They use mostly low cost Vanguard Funds in their plan, which we like very much. The Utah plan has a nice set of age-based investment models that do all the investing for you in a smart, low cost, diversified, risk appropriate way. These models get more conservative as the child gets closer to starting college and needing to spend the money in the account.

How much should I be saving each year for my kids/grandkids college costs?

We have developed a financial model to help with this question. To give an example, if the child's college costs are expected to be $50,000 per year (in today's dollars), and you wish to fund 75% of the total cost by age 18, and your child/grandchild is currently 3 years old, you would need to save about $7,500 per year (per child). This analysis assumes 3% inflation in college costs, 6% returns on your investments in the plan, and various other assumptions.

Keith Tufte, CFA
President
Adam Smith Advisors, LLC
Cherry Tree Companies
http://www.cherrytree.com

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