The Single Most Important Thing to Know About Financial Aid: It’s a Sham

 

In early March, a 17-year-old high school senior I’ll call Ethan got a text message from Ursinus College, a small, private liberal arts school located about 45 minutes outside of Philadelphia. It said, “Great news, [Ethan]! Ursinus College has awarded you additional money! Log into your portal to view your updated financial aid award.”

A few days later, Ethan got a letter from Ursinus repeating the same offer. “The Office of Student Financial Aid recently received additional information regarding your application for financial aid and, as a result, a change has been made to your original award,” it said. In December, Ursinus had offered Ethan a “Gateway Scholarship” of $35,000 to offset the college’s listed price of more than $72,000 for tuition, room, and board. Now it had added a “Grizzly Grant” (Ursinus’ mascot is a bear) of $3,500 to the mix.

It was puzzling. Ethan is not financially needy. One of his parents is a nonprofit executive and the other is a public school teacher in suburban Maryland. They own their home outright and earn well over $200,000 per year, putting them comfortably in the top 10 percent of household income nationwide. Ethan’s standardized test scores were good and grades were fine, but mostly not in the kind of rigorous Advance Placement–type classes that are mandatory for admission to selective universities.

All of this was in the application he sent to Ursinus last year, and he hadn’t talked to them since. What “additional information” were they talking about? Meanwhile, Ethan has a cousin who is also a high school senior. I’ll call her Ashley. Her overall academic profile was better than Ethan’s—higher grades and lots of AP courses, somewhat lower SATs. But her economic circumstances were not.

Ashley also lives in Maryland. Her mother, a single parent, dropped out of community college and works in the back office of a local restaurant chain. Her income is well below the median for someone with college-age children, and she has no real financial assets to fall back on.

Yet Ashley wasn’t getting unsolicited text messages offering her more financial aid. Penn State, a public land-grant university that allegedly has a mission to provide broad access to college, had recently sent her a financial aid letter. Like Michael Corleone in The Godfather Part II, their offer was this: nothing. Tuition, room, and board would be $49,200—almost $16,000 more than private Ursinus College wanted to charge her wealthier cousin. To pay, she was welcome to get a job, or take out loans.

Ethan and Ashley were learning a lesson about the way the business of higher education actually works in this country: College financial aid is largely an illusion. Government financial aid is real, if inadequate—federal Pell grants and state appropriations to reduce tuition at public universities definitely exist. But the financial aid purportedly provided by colleges themselves is mostly fiction.

The whole public-facing system of college admissions—in which admissions decisions are based on rigorous academic standards and financial aid is supposedly provided to those who are most academically and financially deserving—is an elaborate stage play meant to flatter privileged families and the reputations of colleges themselves. The real system, hidden behind the scenery, is much closer to the mechanics of pure capitalism, driven by an industry of for-profit consultants and relentlessly focused on the institutional bottom line.

That’s a huge problem for students and parents trying to make expensive, life-changing choices about higher education. Many families make bad decisions based on the misleading vocabulary colleges use around financial aid, leading to broken futures and, increasingly, unaffordable student loans. If you have children and are planning to help them go to college anytime soon, understand this: Much of what colleges are going to tell you about money isn’t true.

There are, to be sure, a few extremely wealthy institutions that really do provide financial aid. If you are among the small number of low-income students that Harvard chooses to admit after filling much of its class with legacies, athletes, and the children of wealth, status, and power, you won’t have to pay tuition. The Ivies and a handful of other elite schools have “need blind” admissions, which means they consider your application regardless of your financial circumstances, and offer generous aid to those who need it.

Parents can also find good, reasonably priced public options in some states, which allow them to avoid the shell games involving financial aid. Public universities in North Carolina remain very affordable, for instance. And some states also provide grants to students that are in fact based on their financial needs or academic achievements.

Tuition and fees for the State University of New York system are relatively low to begin with, roughly $8,000 to $10,000 for in-state students. But the state of New York also runs a state need-based scholarship program that, combined with a federal Pell grant, can be enough to cover tuition and part of room and board.

But if you live in a less generous part of the country and your kids are applying out-of-state, or they have their sights set on a private college without an Ivy League endowment, then you have wandered into a very different kind of market, one that has a lot more in common with airlines hawking seats or dealers selling cars than you might realize.

The language of admissions and financial aid suggests that colleges review every application with two questions in mind: “Does this applicant meet our academic standards? If so, how much scholarship aid, given their financial circumstances and academic merit, do they deserve?”

In reality, the large majority of undergraduates attend a college that accepts most or all applicants. And while the “sticker price” for tuition at some institutions exceeds $50,000, most colleges don’t have enough market power to charge anything close to that. For them, the real concerns are, “How likely is this applicant to enroll, if we accept them? And what’s the most amount of money they’d be willing to pay?”

To answer those questions, many colleges hire expensive consulting firms to help them manage a complex process of marketing, admissions, and pricing. The firms design social media campaigns and produce the flood of glossy brochures that pours through the U.S. postal system every year.

They take the wealth of detailed financial information that parents are required to disclose on the Free Application for Federal Student Aid, or FAFSA, and feed it into the same kinds of complex algorithms that airlines use to constantly change the price of seats in the months, weeks, and days before a flight.

They also use a probabilistic strategy for deciding whom to admit, based on a combination of how much they think parents are willing to pay and how likely students are to enroll. Because of online systems like the Common App, it’s easy for students to apply to many colleges. At less desired colleges—the safety schools and fourth choices—“yield” rates, meaning the percentage of admitted students who enroll, are often below 20 percent.

So they admit 3,000 students to fill a freshman class of 600 and hope that past statistical patterns hold. If too many students enroll, there’s no room in the dorms. Too few, and the college goes broke. The whole process is called “enrollment management.” To understand how important enrollment management is in the higher education industry, look to administrative hierarchy:

Ursinus College, for example, has a director of admissions who reports to a vice president and dean of enrollment management and marketing. When Washington College mailed Ethan three “VIP admission” tickets and an all-access lanyard with his name printed on it for an “Admitted Students Day Music Festival” in April, it was trying to increase its yield.

When one college after another sent Ethan a letter offering him tens of thousands of dollars in scholarship money, in most cases it probably had nothing to do with their evaluation of Ethan’s achievements. It was more likely because market research told them that students like the feeling of being awarded something, and the enrollment management algorithm suggested that full tuition minus $25,000 or $30,000 was a price his parents might be willing to pay.

The Ursinus College Office of Student Financial Services did not receive any additional information regarding Ethan’s application. That was a fib. An Ursinus spokesman confirmed for me that the extra award was based on his original application and “other financial considerations.”

It would not be surprising if those “other financial considerations” included a report from an enrollment management consultant—the firms Ruffalo Noel Levitz and EAB are two of the biggest—showing that acceptance and pricing projections as of early March were looking soft. When colleges find their enrollment numbers lagging, they act like a car dealer with too many of last year’s models on the lot, and put tuition on sale.

Like most colleges, Ursinus’ $72,000 list price is an imaginary number; on average, it charges students only about one-third of that. It is not providing Gateway Scholarships and Grizzly Grants from a pot of actual money. It’s just pretending to, because that’s what students and parents like to hear.

Colleges, unsurprisingly, are shy to discuss the consultants that shape the inner workings of their aid process, and will resort to linguistic contortions when asked about it. When I asked Ursinus whether it awarded its “Grizzly Grants” based on a report from an enrollment management consultant, a spokesman responded that it works “in partnership with a financial aid leveraging firm” and that “we monitor the progress of the first-year class on a routine basis throughout the enrollment cycle.”

A spokesman from Clark University, which tried to entice Ethan with a “$68,000 Robert Goddard Achievement Scholarship,” told me that the school “does not rely on an enrollment management consultant.” Instead, they said, it “occasionally” hires “outside analytical support” that does “not tell us how much aid to offer any student or group of students” but does “crunch large volumes of data in a timely manner that we then use to assess our progress toward our enrollment goals and estimate/project our total aid expenditure through that enrollment cycle.”

So, not an enrollment management consultant. Just, you know, a consultant that helps them manage enrollment. But while schools may not love talking about it, nothing about this system is a secret within higher education. For instance, after taking a job in the enrollment management industry, former Ursinus vice president for enrollment Richard DiFeliciantonio wrote an essay for Inside Higher Ed in which he explained that the “financial aid matrix” colleges rely on is essentially “the same pricing technique taught to M.B.A.s and commonly used by corporations for commercial products.”

He noted that the formula considers a student’s academic achievement mostly as a “proxy” for their willingness to pay for college (as opposed to a measure of merit). This is also why, despite her financial need and solid high school achievement, Ethan’s cousin Ashley was not being inundated with texts and letters offering her more money. As DiFeliciantonio wrote: “Wealthy families are more able and less willing to pay for college while the poorer families are more willing and less able.”

In other words, parents of means who themselves have finished college are often sophisticated consumers of higher education and are able to drive a hard bargain, whereas lower-income, less-educated parents feel an enormous obligation to help their children move farther up the socioeconomic ladder and blindly trust that colleges have their best financial interests at heart. So colleges obey the algorithm and offer more financial aid to the Ethans than to the Ashleys, one of many problems identified in a recent Brookings Institution report.

Ashley submitted financial aid forms with information about her family’s modest income because everyone and everything about the process told her college aid is based on how much money you need, or deserve. She had no idea that information could be used against her. In May, New York University offered her admission if she would agree to delay enrollment until spring 2023—when, maybe not coincidentally, her good-but-not-stellar academic record would not count in the rankings data NYU submits to U.S. News & World Report.

Their price? $79,070. Their aid offer? $0, take it or leave it, with 96 hours to respond. Federal statute limits how much the Department of Education can lend to undergraduates. Freshmen can only borrow $5,500. But there is no limit on how much the department can lend to parents through a program called Parent PLUS. Nor does the department check to see if parents have the means to pay PLUS loans back.

So NYU “offered” Ashley the opportunity to borrow $5,500 and take a $1,500 work-study job. Then it offered Ashley’s mother the chance to take out a $72,099 Parent PLUS loan—more than her gross annual salary, before taxes—for the first of four undergraduate years.

Fortunately for Ashley and her mother, they knew someone who offered sensible financial advice. They turned down NYU and its offer of gargantuan loans and chose a less expensive public university. But as the countless individual stories that compose the nation’s $1.7 trillion student loan crisis show, many families make different choices. They are drawn in by a combination of optimism, blind faith, and familial obligation, and end up with debts they cannot repay. Colleges know this will happen.

Colleges do this because they want and need money. The business of filling up a class has gotten more difficult as the number of new high school graduates continues to recede from the peak millennial years, with further declines expected starting in 2025. Small, private colleges are especially vulnerable, and some have gone bankrupt in recent years.

Understanding the true nature of the college market should reduce some kinds of student stress. If you’re a high school graduate in reasonable academic standing, there are scores of good colleges ready to admit you. The real market tuition price in the big middle of the higher education sector is probably about $25,000, not the $50,000 or $60,000 you might have heard. Applying to college there isn’t like being vetted to join an exclusive social club. Nobody is really judging your worthiness for financial aid. College is just another service with a price.

The words colleges use in the admissions process, embedded in the broader portrayal of higher education in popular culture, tell a different tale, leaving first-generation students with the least money and social capital most vulnerable to exploitation. Colleges are full of great educators who want to help you learn. But when it comes to money, you’re on your own.

By Kevin Carey

Source: College financial aid: It’s a sham that depends on what colleges think families will pay.

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An Economist Calls For Homeowner Celebration Over High Inflation

Justin Wolfers, a professor of economics at the University of Michigan, recently posted something on Twitter that stirred the collective pot:

“Lemme ask one of those tone deaf economist questions that annoy almost everyone. Today, many families learned that the amount they owe on their mortgage has declined—in real terms—by 9.1% over the past year. Why do we hear so little about this? Why don’t we see folks celebrating?”

Some other economists agreed with him, at least in terms of how people think of economics. Many non-economists quickly came in to explain their thought processes—that the points, while technically correct, were out of context and touch.

Essentially, the critics made two points as accurately as Wolfers and company related the technicalities. People are set upon from all quarters, not just housing. And the U.S. is becoming a country, not of poverty, but entrenched poorness. That is, in the sense of “small in worth” or “less than adequate” by the Merriam-Webster definition.

It is true that as inflation increases, the monetary value of a loan with terms that established lower interest rates decreases in favor of the borrower, at least while inflation is running hot. If the total remaining on the mortgage, including interest and principal, is $X, then over the last year it’s now 9.1% less expensive because the value of the dollars is falling. The mortgage likely has no inflation escalation rider.

Now, that mortgage only remains 9.1% less expensive if there is no deflation. You do get a savings even if inflation drops to a lower rate, because the value of what a dollar can buy continues to drop. As it does pretty much every year anyway. This is one of the advantages of owning a home. The amount you own drops because there is some degree of inflation in virtually every year, as, unless you have an adjustable-rate mortgage (a bad idea in the long run that might make sense in specific circumstances in the immediate future), you’ll locked in at the level of cheaper dollars.

There’s nothing new with that and it’s how a lot of people build wealth over time. Then they, in theory, pass that property down to their children, who now have greater wealth that, in theory, can get passed down in turn, and so on. The growth of wealth becomes a multi-generational process. The longer you’re around, the greater an advantage you have.

There are two other ways you build value as a homeowner. One is, on the whole, there will be some appreciation in value over time. That comes without additional payments. The other is one of those “you get a benefit because you’re not doing something else that would cost more” kind of financial planning arguments. If you don’t own, you’re a renter and the amount you pay climbs each year. If you do own, then there’s an annual additional amount you don’t have to pay, which is a savings.

That doesn’t mean that homeowners don’t pay more every year because there’s more to owning a house than the payment. Taxes, utilities, maintenance and repair, upgrades, and so on see regularly rising costs. Still, this remains a case that things could be much worse, and you are ahead in some significant ways.

So, why aren’t people dancing in the street? The first reason the critics note is that housing, while a significant cost, isn’t the only place where people are hit. For many years, important areas of living have endured significantly higher increases than income in real terms after inflation. Healthcare, childcare, education, energy (both electric and heating and cooling), all drive up everyday expenses. They leave pay increases in the dusty plains of personal financial ledgers. Personal savings rates are dropping; credit card debt has again reached new heights.

One reason you don’t see conga lines in the street is because people are anxious about the economy and their position in it. Consumer sentiment is up a touch from June, as the newest University of Michigan polling shows, but that’s still down massively from a year earlier. If a patient is in bed with a serious illness and a doctor tells them that they don’t have an additional one, they might be glad to hear it and yet not be in a position to leap to their feet.

The second criticism is even stronger, in a social sense. If housing ownership is at about 65% in the country, should people clap for joy as they see a third of the country having to struggle much harder? When many who are not in a position to own homes are their children or nieces and nephews or kids of friends or younger people they work with? You can be thankful that you weren’t part of a massive traffic accident and yet reluctant to outwardly rejoice so as not to rub others’ noses in the dirt.

My credits include Fortune, the Wall Street Journal, the New York Times Magazine, Zenger News, NBC News, CBS Moneywatch, Technology Review, The Fiscal Times, and…

Source: An Economist Calls For Homeowner Celebration Over High Inflation

Related contents:

Sen. Michael Bennet is ready for a difficult election year amid inflation, housing crunch Colorado Public Radio

14:32
02:15
23:36 Thu, 14 Jul

Record share of US consumers blame inflation for eroding living standards Anadolu Agency

Inflation rises to 18.60 per cent in June – NBS International Centre for Investigative Reporting

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American Express Announces First Crypto Rewards Credit Card On Its Network

American Express will soon debut the first crypto rewards credit card on its network. Announced today at the Consensus cryptocurrency conference in Austin,TX the card, developed in partnership with crypto wealth manager Abra, will transact in U.S. dollars and offer crypto back on any purchase category and amount. The rollout is expected later this year.

According to Abra’s CEO Bill Barhydt, who spoke with Forbes ahead of the announcement, the crypto rewards will be tradable across over 100 different cryptocurrencies supported by Abra with no annual or foreign transaction fees. In addition, the card will offer several benefits from the American Express Network, including offers for shopping, travel, dining and Amex’s purchase protections.

“We’re thrilled to combine the strength of our payments network with Abra’s innovation and expertise in crypto. This is a credit card for crypto explorers and enthusiasts alike,” said Mohammed Badi, President of Global Network Services at American Express.

Though first for American Express, the Abra crypto card is only the latest in a string of products offered by cryptocurrency companies on major payments networks, such as Gemini crypto card, which offers rewards in the form of bitcoin and over 60 other cryptocurrencies, and BlockFi rewards Visa card.

Abra received its first check from American Express back in 2015. Other notable investors include Digital Currency Group, Pantera Capital and the Stellar Development Foundation. Today the self-described “crypto bank” and Forbes’ Next Billion-Dollar Startups 2021 list member has over 2 million customers. The Mountain View, California-based firm says it has processed more than $2 billion in crypto-backed loans to retail and institutional clients.

The new joint initiative “represents another step toward Abra’s goal of eventually offering an instant line of credit directly at the point of sale,” said Barhydt. “This is the future of payments.”

Today the firm has also announced a new feature to buy and sell NFTs with managed custody in the Abra app. Rather than funding DeFi wallets and moving between different app interfaces to buy and sell NFTs from marketplaces like OpenSea, users will be able to buy and sell digital collectibles directly from Abra’s platform, Barhydt explained.

Cardholders can choose from any of the more than 100 cryptocurrencies supported on the Abra platform, with no annual or foreign transaction fees. The card will also come with Amex Offers for shopping, travel, dining and services as well as presale ticket access and purchase protections.

Commenting on the initiative, Mohammed Badi, president of Global Network Services at American Express, said:

“We have a long-standing relationship with Abra through our Amex Ventures investment portfolio, as they have deep expertise in both crypto and traditional financial services, and we are now pleased to extend the American Express brand and benefits to their customers as the payments network for their first card.”

In April, the firm announced the launch of a capital-management arm with five funds with exposure to bitcoin, ether and other cryptocurrencies available to accredited investors willing to invest at least $250,000.

I report on cryptocurrencies and other applications of blockchain technology. I also edit the weekly Forbes Crypto Confidential newsletter and contribute to our premium research service

Source: American Express Announces First Crypto Rewards Credit Card On Its Network

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3.5

Representative APR

3.0%

Early Repayment Charges*

Yes

Borrowing Term Range

1-7 years

Representative Example

You could borrow £10,000 over 60 months with monthly repayments of £179.93. Total amount repayable will be £10,781.00 Representative 3.0% APR, annual interest rate (fixed) 3.0% p.a. Credit available subject to status.

Why We Picked It
Pros & Cons

The AA

3.5

Representative APR

3.0%

(non-members)

Early Repayment Charges*

Yes

Borrowing term

1-7 years

Representative Example

You could borrow £10,000 over 60 months with monthly repayments of £179.93. Total amount repayable will be £10,781.00 Representative 3.0% APR, annual interest rate (fixed) 3.0% p.a. Credit available subject to status.

Why We Picked It
Pros & Cons

*Based on a settlement figure as set out under the Consumer Credit (Early Settlement) Regulations 2004. This states that if you have less than 12 months remaining of your loan, providers can charge up to 28 days’ interest. An extra 30 days’ interest can be added on if there is more than one year of the loan term remaining, taking the total maximum penalty to 58 days’ interest.

Source: Compare Our Best Loans Of 2022 – Forbes Advisor UK

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Should I Cash Out of Mutual Funds to Pay Off Debt?

If you have some money invested in mutual funds, using them to pay off debt may seem like an attractive option. You may assume that you’ll get more benefit from using the money that you’ve invested to eliminate debt (and the associated high interest rates). But cashing in your mutual funds may not be the best way to become debt-free if there are other options available. And depending on where you hold your mutual funds, you could end up receiving a steep tax bill.

Key Takeaways

  • Cashing out mutual funds may not be the best option for repaying debt.
  • You may owe capital gains tax on mutual funds that you cash out from a taxable brokerage account.
  • Cashing out mutual funds from an IRA or other qualified retirement account could trigger income tax on earnings, as well as an early withdrawal tax penalty.
  • Withdrawing money from your investments to pay debt means missing out on future growth from compounding interest.

Pros and Cons of Cashing Out Mutual Funds to Pay Off Debt

Using mutual funds to pay off debt may seem appealing at first glance. If you aren’t using the money that you’ve invested for any particular financial goal, then why not use it to pay off credit cards, student loans, or other debts? After all, eliminating debt can free up more money in your budget that you can then reinvest in mutual funds, stocks, or other securities.However, there are some problems with that logic.

Specifically, there are two major drawbacks associated with cashing out mutual funds to pay down debt. The first is taxes; the second is how it may negatively impact your long-term financial goals.In terms of tax implications, there are two ways that cashing out mutual funds to pay debt can backfire, depending on where you hold them. If you have mutual funds in a taxable brokerage account, then cashing them out may trigger capital gains tax if you’re selling them above what you initially paid for them.

Short-term capital gains on securities owned for less than one year are subject to ordinary income tax rates.1 The long-term capital gains tax rate is 0%, 15%, or 20%, depending on your income.

If the mutual funds are in an IRA, you may pay ordinary income tax on the entire withdrawal, the exception would be if you had any basis in your IRA. Then a 10% penalty may apply. The rules are slightly different for Roth IRAs, especially when it comes to taxes.

Aside from the tax consequences of using mutual funds to pay down debt, it’s also important to consider how it may impact your ability to grow wealth. By selling off mutual funds and not replacing them with other investments, you miss out on the power of compounding interest. Depending on how much of your mutual fund holdings you choose to sell, that could mean losing thousands of dollars in growth over time.

If you’re considering cashing out mutual funds in a brokerage account, use an online capital gains tax calculator to estimate how much you may owe on the sale.

Other Options for Paying Off Debt

Cashing out mutual funds isn’t the only way to manage debt. There are other possibilities for eliminating debt faster while also saving money on interest, including:

  • Refinancing student loans, personal loans, or other loans at a lower interest rate
  • Consolidating credit card debts into a single personal loan
  • Taking advantage of 0% credit card balance transfer offers
  • Using a home equity loan to consolidate debts
  • Selling vehicles or other non-investment assets that you own and applying the proceeds to your debt balances

If you’re struggling with debt repayment, then you may consider other options, such as a debt management plan or debt settlement. With a debt management plan, you work with a certified credit counselor to create a plan for paying off what’s owed. This may include reducing interest rates or fees. You make a single payment to the credit counselor, who then distributes the funds among your creditors.

Debt settlement is something that you may consider for past-due debts. This involves working with a consumer debt specialist to negotiate debts with creditors. The goal is to pay off debts for less than what’s owed to avoid filing for bankruptcy as a last resort.

Debt management and debt settlement may have potentially negative impacts to your credit score, so it’s important to weigh these options carefully.

Making an Informed Decision

If you’re considering selling mutual funds to pay off debt, it’s important to do your research beforehand. Your broker or financial advisor can provide you with the expected rate of return for a mutual fund going forward. Compare this rate to the fund’s historical performance to ensure its accuracy. If the mutual funds pay dividends, then this amount should be included in the assessment. If funds are held within a retirement account, find out the fees and penalties for cashing out.

Again, cashing out of a traditional IRA before age 59½ results in a 10%, or 25% if you have a SIMPLE IRA, tax penalty. There are exceptions for withdrawals, such as disability, medical debt, certain educational expenses, and buying a home. Mutual funds held within regular brokerage accounts have the standard commission charges, but the fund itself still may charge a fee for redeeming your shares. Brokers and financial advisors are great resources for this information.

The interest rate on your debt and the length of the loan should provide the last pieces of evidence to make an informed decision. Debts such as credit cards and short-term loans typically have higher interest rates than longer-term debts such as vehicle loans or mortgages. For mortgages, check to make sure that you have a fixed interest rate. Adjustable-rate mortgages (ARMs) can keep increasing over time and lead to payments that might balloon above your ability to repay them.

Note

A 401(k) loan also is an option for repaying debt, but if you separate from your job before the loan is repaid, then the entire amount could be treated as a taxable distribution.

The Bottom Line

While becoming debt-free may be relief, there are some downsides to consider if you’re using mutual funds to achieve that goal. Fees and penalties are red flags when thinking about cashing in your mutual funds. Loss of future investment income and the lack of a retirement account can put you in a worse situation later in life.

You can make additional debt payments using current income to shorten the length of the loan and reduce the total amount of interest that you have to pay, assuming your budget allows it. If you’re truly struggling with how to repay debt, then consider reaching out to debt relief companies to see how they may be able to help.

When researching debt relief companies, be sure to get a clear explanation of the services that they offer and the fees that you might have to pay before signing a contract for services.

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By: Nathan Buehler

Nathan Buehler is a well-established writer on the VIX and its related exchange traded products. Nathan also provides coverage on publicly traded companies, commodities, and personal finance/budgeting. Not only is Nathan a writer, but he is also a teacher. His drive to help others doesn’t end in the classroom. This is evident by the time and commitment he gives to his readers through personal feedback and open discussion of topics. He has written articles on topics such as economics, investing, and finance.

Source: Should I Cash Out of Mutual Funds to Pay Off Debt?

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