Thoughts for Parents of College Bound and Soon to Be 

Tuition Bills – if the college tuition bill has not hit the mailbox, it will be there before you know it. Bills generally go out in early July with payments due by August 1.  Tuition bills cover tuition, fee, campus housing campus, and sampling culinary delights. Invoices must be resolved before a student has access to their dorm, classroom, or meals plan. Resources including private education loans, scholarships, home equity, and disbursements from investment accounts are all financing tools to use. Learn your resources and put your plans into action.

Protecting Your Student – you protect your students against the sun, protect them when they’re in college. Vaccinations, tuition insurance, and legal documentation are all critical to protecting college-bound students. Colleges and universities maintain specific Immunization requirements; however, the vast majority want proof of a Meningitis and two MMR vaccinations. A full panel of immunizations (chickenpox, Hep A, DTP, and HPV) is generally recommended but not required. If the need arises and you need to communicate on behalf of your college students, proper legal documentation must be in order.  FERPA (Student Academic and Financial Records), HIPPA, Healthcare Proxy [Power of Attorney], Durable Power of Attorney and even a Living Will may be necessary to participate in the ongoing academic, personal and health care of your 18+ college student.

Anxiety before departing college-bound students generally feel some sense of behavioral change leading up to the start of college.  Best to keep a student focused on work, sports, friends, hobbies, and connecting with you, their parents. Harness your energy away from selling the college experience. They’re already in, but many students will continue to worry about the pending change. If you do talk about college, take a light subject, or how will you communicate. Will your college student feel comfortable texting, emailing, and making an occasional call? You may think you’re sending an adult to college but trust me they’ll want to connect. Moreover, yes, you need to keep in touch!!

2019 HS Grads – Still Thinking – if the search process was not for your student before but is now ready, colleges are looking for them.  Full-time, part-time, applications are being accepted right now for the 2019-2020 academic year. Sure, your late but choices are still plentiful, many close by.  4-Year colleges, public and private and community colleges are working to finalize their 2019 Freshman class and yes, many have financial aid to award. They Need You!!

{Transfer students, you’re a hot commodity for all colleges and universities. Looking to restart, act now}

Rising Sophomore, Juniors, and Seniors – summer is a great time for exploring colleges, honing academics skills, participating in personal enrichment programs, and planning for the future. Campuses may be in their “off mode” but checking out the distance, taking a tour and meeting with school representatives can be helpful to open one’s eyes to college or when narrowing options. Calculating college cost, estimated contributions and determining family debt tolerance are MUST homework assignment for parents.  Rising seniors should be working on their draft college essay and updating their high school resume.

Parents of Little OnesSaving is the KING. Saving for college opens possibilities and options for students. Saving for college during a student’s early years pays dividends when they approach the college years. Saving for college is buying power when it comes to college options. It places less worry on financial aid eligibility.   $1.00 a day, $20 a week, $500 a month, or whatever one can save, it ALL matters! Don’t wait!! We are fortunate to have many outstanding bankers and financial advisers within the RT-One BNG Family. If you need an introduction, my list is available.

Recent College Graduates – not to be forgotten. Recent grads are looking to land their first job or using GPS to get to their new workplace. Life after college brings many adjustments, including the need to modify one’s monthly budget to accommodate a student loan payment or two. Managing education loan debt (federal and/or private) arrives in the form of loan payment due six months after graduations. Graduates have time to consider their repayment responsibilities, establish a workable monthly payment, or seek alternative programs to help with student loan repayment. Don’t Wait!!