The College Investor Audio Show

When you’re unemployed, it’s hard enough getting out of bed in the morning, let alone searching for a job. Add to that the stress of dealing with your student loans and it’s a wonder you can get out of bed at all. Student loan debt and unemployment is not a fun combination. We wish we could snap our fingers and make your student loans disappear when you can’t pay them (and even when you can). Instead, we’ll have to settle by giving you some advice on how to deal with them while you’re unemployed. Before we go into it, the first thing you should do when unemployed is apply for unemployment benefits, if you’re eligible. Any income is a step in the right direction when you have bills you need to pay. Look up your state’s unemployment requirements to see if you’re eligible and how much you can get. After that, you need to make sure your budget is in order and you're still handling your student loan debt. Here's our advice that will hopefully get you on the right path so you can focus on your job search.

In its nearly 250-year history, the U.S. has experienced more periods of inflation than deflation. The last big period of deflation occurred during The Great Depression. There was another smaller period during the Great Financial Crisis. Both coincided with a recession. During a recession and deflation, people lose their jobs, demand drops, and with it, prices. But for those who are able to hang on to their jobs and have investments, what should they look at for some of the best investments during a deflationary period? In this article, we'll explain how deflation works and offer a few strategies for defending against it.

Around 80% of mortgage borrowers in the United States have an escrow or impound account. In fact, these accounts are required by some lenders. These accounts hold money on behalf of the buyer to ensure certain payments are made on time - typically homeowners insurance and property taxes. This can help reduce liability and risk lenders take on, giving buyers access to better financing options. What is an escrow or impound account? Is it required? More importantly, how do you cancel an escrow or impound account if you don’t actually need it? This article will dive into all of those questions to help you figure out whether or not an escrow account is a good move for you.

When you think of financial scams, you may think of Bernie Madoff and Nigerian Princes. But if you listen to enough “financial experts” on YouTube and TikTok, you may hear that the humble 401(k) is a scam. A 401(k) is a tax-advantaged retirement investment account offered by many employers. It's an account so basic that it may be a victim of its own success. Has the 401(k) scammed aspiring retirees out of their hard-earned money? We don’t think so, but we will explain why the account is being so harshly maligned.

Choosing the right school for you can be difficult. Not only does the decision come while you’re still fairly young, but it can also be heavily influenced by external factors that end up not aligning with what you want. Take it from someone who’s been there. In fact, about one-third of college students transfer schools at some point before finishing their degree. And total transfers represented over 13% of all continuing and returning undergraduates last year. This article walks through the top reasons students choose to transfer, how to identify when the time is right, and what to do to set yourself up for success at a new school.

The tax deadline is almost here! Here are some last minute tax reminders if you're still working on filing your taxes. Although it might not be the most enjoyable financial task, it's a necessary obligation that we each undertake every year. And if you use great tax software, filing taxes doesn’t take as much time as you may dread. But tax filing time isn’t only about filing returns. There are things you can do today to help you save money on your tax bill, and help you save time on filing. Here are the best last-minute tax tips to consider this season.

The short answer is no, you cannot use a 529 plan to pay for SAT prep. However, all is not lost. While SAT prep courses can be expensive, they don't have to be. There are affordable options to help you prepare for the SAT. Here's what you need to know

The goal of test prep is to learn tips and tricks that help maximize your time and performance on a college admissions test. Students are taught best practices for creating a study schedule, pacing themselves during the test, and using process of elimination to narrow down the answers. While not required, test prep can certainly help put you at ease on test day – and it is commonly correlated with higher test scores. SAT test prep could be free through online quizzes and books from the library to thousands of dollars for one-on-one tutoring.

Getting an MBA, especially at a top school, can come with an expensive price tag. After investing in an expensive degree you might not get the high-paying job you hoped for – or you might decide management isn’t for you and you want to pursue a completely different career entirely. If you’re eager to learn the material covered in an MBA program without the burden of paying for one, you can create a DIY MBA curriculum. While this approach isn’t foolproof, it allows you to create a customized curriculum tailored to what you want to study while helping you learn the skills you’ll need to advance in your career.

Curious how to become a billionaire? It's a question that got me thinking... Earlier this year, I was browsing social media and came across an interesting post. Someone asked a pointed question, which seemed particularly relevant as I was in Las Vegas at the time. “What do you need to do to become a billionaire?” With all of my personal finance and business knowledge, I began to ponder what my top advice would be. I came up with two answers pretty quickly. Here are my thoughts on how to become a billionaire.

Threats to your investment portfolio can come from anywhere, including politics, the economy, and even your own mind. Understanding the threats to your investments is the first step to combating them. Birch Gold, a company that helps investors buy and sell gold, polled its investors about their thoughts on the greatest threats to their well-being. We combined some of the Birch Gold responses with other sources to deliver these top 10 threats to your investment portfolio.

If you’re one of the 80% of taxpayers who will be receiving a tax refund this year, here's what to do with your tax refund according to experts. The average tax refund payment was more than $2,753, according to the IRS. That's a lot of money that you can put to good use. While you can probably imagine plenty of places to put your prized refund check today, you might not be thrilled with the choice tomorrow. Rather than spend all of your money frivolously, why not use it to boost your bottom line? Invest that money in one of the ideas listed below, and you can guarantee your future self with thank you. You may even have some fun along the way. Here are some of the best ways to put your tax refund to good use this year.

A Federal Student Aid ID (FSA ID) is a unique identifier that allows you to log in to Department of Education websites. You need this ID to complete the FAFSA online, view your financial aid history, accept loans, and select student loan repayment plans. The sooner you get your FSA ID setup, the easier it will be for you to manage everything related to loans and grants. Let's explore how to set up your FSA ID.

Leap Year's extra day can serve as a reminder to stop and evaluate. An extra day in the year represents an opportunity to earn more money, pay off debt, or think long term about your finances. Here are a few of the best ways you can use a Leap Year to maximize your finances.

Learning financial aid is like speaking a foreign language. There is an alphabet soup of different words and acronyms. You may think you understand the babble, but it is easy to get confused. Misunderstanding the terminology can present students with a trap that may mislead them into enrolling at an unaffordable college. Learn what these words really mean and what to watch out for.

There are many benefits to receiving one or more private scholarships. It eases the financial burden of getting a college degree and minimizes the need for student loans. And it allows you to focus on your studies while at school. But scholarship applicants can face several potential pitfalls along the way. The odds of winning scholarships are often low, and you must be mindful of scholarship scams, displacement, and scholarship taxes. By learning how to anticipate and respond to these scholarship gotchas, you can increase your chances of scholarship success. This article guides you through the many considerations you need to make before applying for scholarships, so you can feel more confident throughout the process.

Audit protection is a service most tax preparation companies advertise as an upsell to help you if you get a notice from the IRS. These services can involve responding to IRS letters, representing you when speaking with the IRS, or even reimbursing you if the tax prep company made a mistake. Personally, I put my extra money towards bookkeeping software. I think that’s the better use of the dollar. However, the peace of mind factor may ultimately push you towards buying audit protection. In that case, I recommend being as smart as possible. Or use H&R Block software to get the most protection for the least cost. Should you (or I) pay for audit protection for your taxes. You may be surprised that in most cases, I think the answer is no.

Don't you wish you could lower your student loan payment? It's possible, and legal, do work some "magic" to get your student loan payment lower. If you don't do anything with your student loans, you're automatically signed up to a generic repayment plan that typically has even payments for 10 years. However, that can be tough, especially right after graduation. Maybe you've just started working, or maybe you don't even have a job yet and you're just side hustling to make a little money? Maybe that standard repayment plan option just isn't working for you, and you're worried what will happen if you don't make a payment or you default. Maybe you haven't looked at your student loans since before the payment pause? If you're considering student loan deferment or forbearance, or if you're thinking about simply ignoring your student loan payments, don't! Here are five legal ways that you can lower your student loan payment so you don't have to go into default.

It's one of the worst things you can face when it comes to your student loan debt - you can't afford your student loan payment. Maybe you're out of school and you get your first bill, and you have no idea how you're going to make that payment. Or, maybe you've been on and off deferment and forbearance for years, and every time you're encouraged to start repayment, you simply don't think you can afford it. Sadly, too many people don't take action with their student loans - even if they can't afford it. That's why over 7% of student loans are delinquent according to the Department of Education. But simply ignoring it or going into default isn't the solution. There are better (and more affordable ways) to tackle a student loan debt payment you can't afford. If you're not quite sure where to start or what to do, consider hiring a CFA to help you with your student loans. We recommend The Student Loan Planner to help you put together a solid financial plan for your student loan debt. Check out The Student Loan Planner here. Let's break down the options here.

One of the biggest questions we see every tax season: should you pay someone to do your taxes? Getting a tax refund is a big part of that question. Most people hope for a refund and look forward to getting their direct deposits (who gets a paper check anymore)? But doing your taxes can be hard, or so the mainstream media tells you, along with commercials and more. So, should you pay someone to do your taxes? As with most things, the answer is: it depends. It depends on a few factors, and we break down whether you should pay someone to do your taxes, or whether it makes more sense to do it yourself. And if you are going to pay someone, who should you be paying - does using one of those big companies like H&R Block even make sense. Here's what you need to know.