ASK A FINANCIAL PLANNER What Are Federal Student Loans? Federal student loans are loans established by the federal government and provided to students for college and graduate school. Who Can Get a Federal Student Loan? There are eligibility requirements for federal student loans. If you have any questions about eligibility, contact the financial aid… Read more »
Tag: Life Stage: Parent
Whether you’re recently expecting, or are expecting your kids to leave the nest soon, you have special financial considerations. Check out these tips for preparing your children (and yourself) for financial wellness.
Whether you’re moving on to higher education or launching your career, SESLOC offers financial resources to help you along your journey: The Credit Union Difference While many banks offer free student checking to young adults, the minute you age out of the account you may be subject to fees and account balance minimums. Your SESLOC… Read more »
If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan Act of 2021 makes substantial, temporary improvements to the child tax credit… Read more »
Lifestyle creep, or lifestyle inflation, happens to the best of us. As your standard of living improves, your non-essential discretionary purchases gradually increase. You might even start to think your “wants” are “needs.” Some creep is natural and to be expected, but excessive creep can derail your finances. In extreme cases, lifestyle creep forces you… Read more »
Do you use others for the barometer of what you should have or deserve to have? Constant exposure to your friends’ vacations, experiences, dining out, luxury purchases, new cars, and house upgrades on social media amplifies “FOMO (fear of missing out)” and the desire to “keep up with the Jones’s.” Overtime, the idea of what’s… Read more »
Download I’m a Credit Union Saver, a fun activity book filled with coloring pages, puzzles, and more! I’m a Credit Union Saver is an introduction to credit unions and saving money. Check out more fun online tools to teach kids about money.
Practical money management skills learned at an early age can have a lasting impact on the rest of your child’s life. In fact, this is one of the most important areas where you can truly change the course of their life. Educating your children about financial wellness will help them build healthy spending habits for… Read more »
ASK A FINANCIAL PLANNER You can, but it isn’t your best option. Your 401(k) plan should be dedicated primarily to your retirement. There are two primary drawbacks to using your 401(k) for college funding. First, if you withdraw funds from your 401(k) before you are 59½, you will owe a 10% premature distribution penalty on… Read more »
The U.S. Department of Education has designated February as Financial Aid Awareness Month, and this year there’s a lot to talk about. On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021, another relief package in response to the pandemic. Included in the bill were several provisions related to education, including many changes to… Read more »
Download Be Cybersmart, a fun activity book filled with coloring pages, puzzles, and more! October is National Cybersecurity Awareness Month, and being cyber smart is important for the whole family. Be Cyber Smart is an introduction to strong passwords and the tricks bad guys use to get your information. Check out more fun online tools… Read more »