The decision to save for your Massachusetts' kid's college education seems like a no-brainer. Considering how expensive tuition is these days (the average cost for a degree at a four-year private college is $138,960, according to the College Board), parents capable of doing so want to put money aside to secure their child's academic and eventually professional future and to help their kids avoid student loan debt.
The changes build on the existing Post-9/11 GI Bill, and the most talked about change is the one that removes the 15 year time limit for people to use their GI Bill benefit. For this reason, the new changes are being referred to as the "Forever GI Bill."
Massachusetts kids are expensive, but while conventional wisdom usually suggests that they'll cost the most when they're small, a new survey is suggesting that isn't exactly true. In actuality, most parents say quite the opposite, as the survey found that parents actually spend way more money on their adult children than they do on babies.
When it comes to student loan debt for Massachusetts couples, "for richer, for poorer" doesn't quite cut it.
A recent survey conducted by Blue Star Families, found that the Post 9/11 G.I. Bill education benefit remains the top benefit and powerful retention tool for military families. In 2016, 78% of service members either transferred or planned to transfer to a spouse or child this benefit as opposed to 76% in 2015 and 66% in 2014.
Upon reaching the age of 18, your child is an adult, and laws such as HIPAA or Massachusetts confidentiality laws provide total protection of his or her privacy. Even if you are paying for your adult child's tuition and/or living expenses, your son or daughter is entitled to medical and financial privacy.