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After Five





Financial Advantage   05 April 2007 08:00 AM (GMT -05:00)
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New Programs Help With Higher Education

BY MIRELLE WHITE

The IEEE can help finance your child’s college education or consolidate college loans, thanks to three new programs from the institute’s Financial Advantage Program. While these programs are primarily for U.S. members, those from other countries who plan to study in the United States may also find the services useful.

• Simple Tuition, a new online site, is the first place to stop if you’re shopping for a student or consolidation loan. The site provides a number of U.S. government and private loan options. Answer a few questions, such as where you live, the name of your educational institution, and the amount you wish to borrow, and the site will generate a list of possible lenders, sorting the options by monthly payment, total cost of the loan, number of payments, first payment due date, and annual percentage rate. With direct links to each financial institution’s online application, the entire process can be completed online or with a toll-free call. Some of the options include such well-known college lenders as Campus Door, NextStudent, and StuFund. This program offers specially negotiated rates for IEEE members that are not available to the general public.

• College Parents of America, an independent membership organization, dedicates itself to providing information for parents, from the time they begin preparing their child for college through graduation. Its “Ask an Expert” program provides real-life experts who can answer questions about the admissions process and how to prepare your child for a career. Its “Deals and Discounts” links list college-oriented products and services, including those from the IEEE, ranging from college guides, such as Thomson Peterson’s guide, to school supplies and financial services. A quarterly newsletter, Decade of Decision, provides tips for preparing your child for college, what to expect during the admissions process, and various ways to support your child while he or she is in college. Any annual fee associated with the College Parents of America service is waived for IEEE members.

• Educational Financial Services, a business unit of Grogan Advisory Services, provides IEEE members aid in finding the best 529 College Savings Plan for their family. Under the federal 529 program, assets grow tax-deferred, and earnings on withdrawals are exempt from federal and state taxes if they go toward college expenses. The service bases its responses on answers to a series of questions about your savings needs and objectives, and it provides a list of possible 529 plans most suitable for your particular situation.

For access to these and 25 other programs available to members and their families, visit http://www.ieee.org/fap.

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