… promised that if a child dies or received a full scholarship, parents could cancel the contact and receive a payout based on current tuition and fees at public universities.  Sounds like a sweet deal?  The only problem is that the fund is now facing bankruptcy because of the rising costs of tuition which is three times higher than it was 10 years ago.  According to an article in The Chronicle, due to the possible bankruptcy of the fund, administrators have decided to go back on their …

Tags: Colleges and Universities Education Education Reform Texas Texas Tomorrow Fund Tuition

… News, Parents who invested in Texas’ prepaid tuition plan to pay for their child’s education and avoid student loans may be out of luck after November 30, 2009. On November 30 th new rules governing the program take effect that will change the way the Texas Guaranteed Tuition Plan calculates refunds.

The article said:

“The plan, which started selling contracts in 1996 as the Texas Tomorrow Fund, gave families the chance to prepay tomorrow’s college tuition and required fees …

Many middle-class families worry about increased inflation, student loan costs and the credit squeeze as they plan for their children’s college education. But Texas state officials hope their new prepaid tuition plan, Texas Tuition Promise Fund, will help families get a head start on saving for college.

The prepaid plan will cover only undergraduate education, allowing families to lock in tuition and required fees at the current prices of Texas’ public colleges and …

Permalink: /dallas_bankruptcy/texas-new-prepaid-tuition-plan-beats-inflation-and-may-decrease-student-loan-dependency/

… within 3 years, according to a report released by the U.S. Department of Education.  For-profit colleges claim that the high numbers of low-income students attending their institutions are inflating their default rates.  So does being a low-income student increase your chances of defaulting on your student loans?

It’s important to note that student loans are nearly impossible to discharge in bankruptcy.  Therefore, if it is true that low-income students are at a higher risk of …

… The article said:

“…unsolicited card offers will be prohibited to everyone under 21, and credit card companies can’t entice students into signing up for a credit card with any tangible item anywhere on or near a college campus or at a college-sponsored event.”

Also, Texas law now requires that the state’s colleges incorporate a credit education class into their new student orientation program. Many students who want credit cards may attempt to convince their parents to …

… so many people is the fact they have to admit they’ve lost control over their finances–and life in general.  Nobody likes to feel powerless and out of options.  But bankruptcy doesn’t have to be the end, it can be the beginning of you taking back control over your situation.  Here are a few steps that can help you feel more proactive and in control once you file bankruptcy.

1.  Establish or Maintain Employment. Yeah, yeah, I know this sometimes seems easier said than …

… .  The best offense is to be defensive in applying for student loans.  Historically, students and parents borrowed money for a majority of college expenses. However, over the last two years, more parents and students are become more prudent in their choices regarding college to alleviate many of the problems with student loans.

According to an article in the Austin American Statesman, “A National Association for College Admission Counseling survey released this month showed 71 percent …

… the Dallas Morning News, the Texas Senate voted on Monday to put strict limits on how much state universities can increase tuition and other charges.

The article said:

After several straight years of huge tuition hikes in Texas, the Senate voted Monday to sharply limit increases in the future, including a 5 percent annual cap for the state’s larger universities… The legislation would limit annual tuition and fee increases to no more than 5 percent – or the average rate of …

… article in the Star-Telegram, one-third of college students have at lease four credit cards each and the number of youth aged 18 to 24 years old who have filed for bankruptcy has increased 96 percent in the past 10 years.

In an effort to decrease the number of href=”http://www.allmandandlee.com/bankruptcy_blog/filing_bankruptcy/”>bankruptcy filings by young people, Senator Patty Murray, D-Wash. is proposing legislation that would provide $1.2 billion in grants over five years …

… to an article in The Dallas Morning News, across the country thousands of workers at struggling universities, factories, hospitals and even state facilities are being laid off without pay. The state of Maryland is temporarily laying off 67,000 of its 80,000 employees in an effort to save $34 million in staffing costs.

As sales drop, private industry is temporarily laying off workers. All of the workers at RV maker Winnebago Industries Inc. will take an unpaid week off during the first …