When one of my sons applied to college, I learned that even if I’ve saved enough to pay for tuition and related expenses, a college-bound child is still eligible for a federal student loan. Federal Direct Unsubsidized Loans are available to students regardless of financial need.
Rather than cash out investments to pay all of our college bills, my child may decide to take a student loan to cover extra expenses associated with attending an out-of-state university. But before accepting the loan, it makes sense to review the costs of borrowing.
You don’t have to inherit a trust fund or run a business empire to become a millionaire. According to the 2014 Fidelity Millionaire Outlook Study, specific money-related behaviors can enable you to accumulate significant wealth, counted in the millions of dollars by the time you retire.