Published on Thursday, December 05 2013 09:11
By Joanne Barnard
Paying education costs can be stressful for parents and graduates; estimates are staggering. Yet post secondary education is becoming a necessity to ensure a productive life. Planning for post-secondary education now will alleviate borrowing later.
Newborn to seven years old
Monthly set aside money for college; even one hundred dollars for eighteen years at eight percent, will give you nearly $50, 000. Whatever the amount, set up an automatic transfer to savings to occur when your paycheck is deposited, because let’s be honest, money for savings is rarely there at the end of the month.
Seven to thirteen years old
Continue the monthly amounts set aside for college. Around this time open up a regular savings account in your child’s name at a local bank and have your child make regular deposits.
Deposits will consist of fifty percent of all income earned by the child. Let them know that this is for education and no withdrawals are allowed until then. If your child is shocked by the fifty percent, this is an excellent opportunity to introduce them to FICA, state, and federal income taxes. You can bring up that you set money aside for college and retirement. Also mention that you have very little disposable income because all of their (the child’s) needs are provided by you, the parent. This will not always be the case, and they need to get into the habit of parting with their income for various necessities.
Thirteen to seventeen years old
If you haven’t already, take the accumulated money from the monthly college savings and place it in a tax-advantaged account like a 529 or Education Savings Account (ESA). Now is a good time to make this conversion; you have a pretty good idea that the money you have been saving will be spent on education, and you will have avoided the tax ramifications if at some point you needed this money for an emergency.
In addition to the money set aside by the child in their savings account, they can offset education costs by having a job, service, leadership and a rigorous course of study in high school. These are recurring themes on college applications and lead to scholarships. Encourage them to take advanced placement (AP) classes. Depending on their score on the AP exam the student can earn college credit, which will save money. Juniors and seniors can participate in Concurrent Enrollment (CE). Through this program students may take college courses. Tuition costs are reimbursed by the district for grades of C or better.
Senior year of high school
Sit down with your senior and discuss what money is available and include the high school counselor for tips on bridging the gap between your savings and college funding.
If they are headed to a four-year college and funds are limited, have them attend a community college for the first two years while living at home and working. They can get their general education classes covered, and then transfer to a four-year school. The details of this plan are described in Zac Bissonnette’s book “Debt-Free U: How I Paid for an Outstanding College Education without Loans, Scholarships, or Mooching off My Parents.” This book is a must read for any parent with children, especially if you are toying with the idea of jeopardizing your financial security to fund your child’s post secondary education.
Published on Thursday, December 05 2013 09:04
By Renée Haip
The boys of Lyons Cross Country aimed high this year. Not only did they win both their Regional and State meets with a perfect score, their performance at state was so strong through all five runners that they earned a coveted team spot in the championship race at Nike Cross Southwest Regional in Mesa, Arizona on Saturday, November 23. Given the run seven, score five format at Nike
Published on Tuesday, December 03 2013 16:00
The Comprehensive Creek Planning Initiative community meeting scheduled for Wednesday, Dec. 4, has been rescheduled due to impending snowy and freezing conditions. Residents living in the South St. Vrain communities (including Raymond and Riverside) are encouraged to RSVP for the new meeting time:
Published on Monday, December 02 2013 09:36
Here is a list of awesome Holiday Gift Festivals in the area:
16th Street Holly Days – Holiday Gift Festival on the 16th Street Mall
Friday, December 6, 2013
11 am – 6 pm
Located on the 16th Street Mall in Downtown Denver
Jingle all the way down the 16th Street Mall for a festive holiday shopping experience before the 9News Parade of Lights. The 16th Street Holly Days is an outdoor boutique of exhibitors with arts, crafts, holidayRead more: Looking to find that perfect gift?
Published on Thursday, November 28 2013 14:59
I fully appreciate your recognition of the people and agencies involved with rescue, safety, and security during the devastation imposed on our wonderful town. Each in their own way were a tremendous asset and all worked well together. Sadly though I am surprised at the lack of recognition
Published on Thursday, November 28 2013 14:53
Dear Lyons Community,
On behalf of the Lyons Student Council we would like to invite you to be a part of a decoration drive for people that have been affected by the flood. We want to collect holiday decorations such asRead more: Holiday Decorations
Published on Thursday, November 28 2013 14:48
A team of nine AmeriCorps National Civilian Community Corps (NCCC) members, who arrived mid-November, will be serving in the community of Lyons through December 19 assisting in flood disaster relief efforts. This is one of six AmeriCorps NCCC teams currently working on flood recovery efforts. Other teams are serving in Boulder, Jamestown, Estes Park, Firestone, and Greeley.Read more: AmeriCorps Aids In Lyons Post-Flood Recovery
Published on Thursday, November 28 2013 14:36
Presented by Lyons Community Foundation and The Alchemy of Nourishment.
Saturday, December 7 at the Ferg's Inn at 349 Main St, Lyons
Serving 12 pm until Late.
Published on Thursday, November 28 2013 14:29
Today as I arise I am thankful for so many things in Lyons Colorado. I am thankful that so many in our beautiful little town will be able to enjoy Thanksgiving in the town and home we love. I think after the flood that will forever change us, but not define us, I am aware of how blessed we truly are in overabundance of family, friends, and community. IronicallyRead more: Every Calorie Counts