Proud of your new high school graduate but still wondering how you’ll pay for college? If you’re a homeowner, you might be eying your home equity, the current value of your home minus the amount still owed on your mortgage.
College tuition has been on the rise, but so have home values, and in March 2024 real estate data provider ICE Mortgage Technology estimated that American homeowners are sitting atop roughly $11 trillion dollars in tappable equity.
A home equity line of credit, or HELOC, is one way to turn that equity into usable funds. Because a HELOC is a second mortgage, your primary home loan’s interest rate — which for a majority of homeowners is well below current mortgage rates — remains intact.
So if you’re trying to figure out how you’re going to come up with cash for those tuition bills before back-to-school season, should you consider a HELOC? Before you decide, weigh the possible benefits against the drawbacks — including a huge one — and review all your options.
Why equity borrowing is tempting
HELOC benefits go beyond keeping your current mortgage interest rate. For one, a HELOC may enable you to borrow a sizable sum. Lenders will usually let well-qualified homeowners borrow up to 80% of their home equity.
For example, say you have a $350,000 home and you still owe $150,000 on the mortgage. That means you have $200,000 in equity and could get a HELOC that goes up to $160,000. In contrast, with a federal Parent PLUS loan, you’re limited to exactly what’s needed: your student’s school-determined cost of attendance minus any other assistance they receive.
And because you aren’t required to use the money for educational expenses, as you are with federal student loans, you could use cash from a HELOC for other necessary expenses.
With a HELOC, you don’t take out all the money at once. Instead, you borrow from the line of credit as needed during what’s known as the draw period. You could borrow as the bills come in, and it may be easier to roll with unexpected costs, like a summer study abroad program.
Interest rates on Parent PLUS loans hit a record high for the 2024-2025 school year, and private student loan interest rates may also be in the 8% to 9% range, if not higher.
“Since interest rates are comparable, it may be a better fit to pursue a HELOC,” Noah Damsky, a chartered financial analyst at Marina Wealth Advisors in Los Angeles, said in an email. But, Damsky emphasized, “Parents need to evaluate alternatives to borrowing against their homes.”
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Risks and drawbacks
Failure to repay any loan against your home, including a HELOC, can result in foreclosure.
“While the interest rates might be competitive or even better than a private student loan or a Parent Plus loan, the ramifications of something going wrong [are] far too great,” says certified financial planner Nick Marino, CEO of Breakaway Wealth Planning in Columbus, Ohio. Think through the risk, he advises. “You have kids at college, but they don’t have a home to go back to. Was it worth it?”
Second mortgages are not the fastest or easiest way to get cash. HELOC borrowers may wait more than a month between applying and accessing funds. You’ll benefit from shopping lenders and getting multiple rate quotes, and you’ll want your financial stats — like your credit score and debt-to-income ratio — to be in solid shape. That’s comparable to shopping for private student loans, but it’s much tougher than qualifying for a federal Parent PLUS loan. Though you’ll go through a credit check for Parent PLUS loans, there’s no minimum credit score, and borrowers may even be eligible despite previous credit challenges.
HELOCs generally have adjustable interest rates, which can make it hard to predict what your monthly loan payments will be. In contrast, with a Parent PLUS loan, you lock in the interest rate when you take out the loan. Borrowers may choose a fixed rate for private student loans, and refinancing is an option for private loans if rates drop.
How to make a smart choice
Start by taking a step back and assessing your financial needs. Prioritizing retirement savings is crucial, says Stacy Dervin, a CFP and CFA at Tailored Financial Planning in Eugene, Oregon.
“Underfunding your retirement to fund your child’s education now may only delay financial costs for your child,” Dervin said in an email. “If parents outlive their money, their adult children can end up paying for the parent’s late-in-life health care or living expenses.”
Here’s a practical guide to sorting through how to find money for college.
1. Start with the FAFSA
No matter how you think you’ll pay for college — and despite the past year’s issues — start by filling out and submitting the Free Application for Federal Student Aid, or FAFSA. This will allow you to see how much money your kid could receive from grants, programs like work-study and some scholarships, none of which have to be repaid.
2. Consider federal loans
Federal loans, whether student loans or Parent PLUS, should be considered next. Federal student loans have fixed interest rates that are set based on the year they’re originated, not your financial characteristics. That can be especially helpful for borrowers who don’t have much credit history, but federal loans are a solid choice regardless of your credit score.
3. Use private loans sparingly
Even if you think you could get a better rate elsewhere, federal loans offer borrower protections and flexible repayment options that you’re unlikely to find on a private student loan. Federal loans also may be eligible for eventual forgiveness. But if you’ve hit federal loan limits and it’s not enough, private student loans could be an option to fill those gaps.
4. Exercise caution with other financing sources, including HELOCs
If you consider the risks and decide to use a HELOC to help pay for college, take the time to run all the numbers, figuring out how much you’ll borrow and what your repayment strategy will be. HELOCs often require interest-only payments while you’re withdrawing money, but putting off paying back the principal could leave you strapped for cash when the repayment period kicks in.
Because it can’t be said enough: A HELOC is secured by your home, and failure to repay has dire consequences. Marino notes that even if a HELOC was a client’s least expensive option for education funding and they had sufficient assets to repay the HELOC at any time, “I still probably wouldn’t necessarily recommend it, but I could get more on board with it.”
Piramal Finance aims to simplify the home loan process for residents of Telangana, offering minimal documentation, flexible repayment options, and pocket-friendly EMIs.
Published Date – 14 June 2024, 06:40 PM
Hyderabad: Piramal Finance has launched hassle-free home loans in Telangana. With a focus on customer convenience and satisfaction, Piramal Finance aims to simplify the home loan process for residents of Telangana, offering minimal documentation, flexible repayment options, and pocket-friendly EMIs.
The key highlights of Piramal Finance’s home loan offering in Telangana include:
Hassle-Free Process: Piramal Finance ensures a seamless and hassle-free process for obtaining a home loan in Telangana, eliminating unnecessary paperwork and delays.
Minimal Documentation: With a commitment to simplifying the application process, Piramal Finance requires minimal documentation, making it easier for customers to fulfill their housing aspirations.
Flexible Repayment: Recognizing the diverse needs of homeowners, Piramal Finance offers flexible repayment options tailored to suit individual financial situations and preferences.
Pocket-Friendly EMI: Piramal Finance prioritizes affordability, offering pocket-friendly Equated Monthly Instalments (EMIs) that align with customers’ budgets and financial goals.
Convenient Application: Customers have the flexibility to initiate their home loan application online through Piramal Finance’s user-friendly digital platform or by visiting any of the 25+ branches conveniently located across Telangana.
Piramal Finance is committed to empowering individuals and families in Telangana to achieve their dream of homeownership with ease and confidence. With the hassle-free home loan offering, Piramal Finance aims to simplify the borrowing experience while providing flexible and affordable solutions that cater to the unique needs of the customers.
Telangana and Andhra Pradesh rank among our top 5 markets, with 25+ branches across Telangana and a presence in cities such as Hyderabad, Warangal, Secunderabad and Nizamabad.
For more information about Piramal Finance’s home loan offerings in Telangana, visit https://www.piramalfinance.com/home-loan/hyderabad
Saratoga County Court Matthew J. Gifford, 31, of Saratoga Springs, was sentenced to 5 days incarceration and 5 years probation, after pleading to felony DWI, charged February 2024 in Saratoga Springs. Kevin P. Masterson, 52, of Mechanicville, was sentenced to 6-1/2 years incarceration / 5 years post-release supervision, after pleading to criminal possession of a weapon in the second-degree, charged May 2023. Shawn Flores, 45, of Milton, pleaded to criminal contempt in the first-degree, charged February 2024. Sentencing July 30. Nicholas F. Bonfante, 44, of Halfmoon, pleaded to criminal sale of a controlled substance in the second-degree, a felony, charged…
With their cute aesthetics, lower environmental footprint, and mobile character, tiny homes on wheels have lured many into embracing a minimalist lifestyle. Moreover, thanks to their smaller initial cost, they have helped many people achieve their dream of homeownership.
The tiny house market is saturated with oodles of standard models offering bland looks and run-of-the-mill features, so it’s not easy to find a design that truly stands out. However, if you know where to look, you can still find gems that have the potential to entice you to sell everything you own and adopt a more simple and sustainable lifestyle. This luxury micro-dwelling for sale in Pleasant Grove, Utah, is a great example.
With an artistically designed exterior and a cozy and inviting interior that’s worthy of home decor magazines, this tiny home is a marvel on wheels. It is dubbed “La Montagne de Luxe,” and though information about the manufacturer is not available, we know it is a home built on speculation to show what this builder can do.
We can all agree that compact dwellings that are made to order typically have more character compared to other standard models, but this unit built on speculation certainly has a lot of character, too. From the custom woodwork to the exquisite exterior lighting design and Venetian plaster accent wall on the inside, there is a lot to like about this home. Not to mention, it is brimming with modern amenities and luxury finishes meant to make tiny living a pleasant experience.
Photo: The Tiny House Concierge
Built on a two-axle Walton Trailers bumper pull conventional trailer, La Montagne de Luxe is just 26 feet long and 8.5 feet wide but offers a spacious living space with a two-loft configuration, which makes it suitable even for a small family. Moreover, it is certified by Pacific West & Associates and made for year-round living with heavy-duty mineral wool and spray foam insulation, heated floors, two Lunos air exchange systems, and top-of-the-line appliances.
The beautiful exterior is clad in dark board and batten siding, which gives it a moody look. However, the entrance door is encompassed by a rustic-inspired accent wall with intricate wood detailing. A double door leads inside an eclectic interior where the natural and soothing traits of rustic design harmoniously blend with the clean lines and luxurious finishes of modern design. A neutral color palette dominates all the areas inside this home, but don’t expect it to be boring, as the designers spiced up the living space with subtle pops of color here and there.
For instance, the living room is fitted with two velvety armchairs in a soothing pink hue. They are strategically placed in front of a floating cabinet that could act as an entertainment center. Of course, these chairs can be replaced with a regular couch, and there is also space on the wall for a TV for chill movie nights. However, the true highlight of this lounge is the stunning Venetian plaster accent wall that gives the room a high-end appearance.
Next to the armchairs, you’ll notice an elegant staircase that leads to the master loft. This staircase is more than just a pathway from one floor to the next, as it also acts as a visual separation between the living room and the kitchen and dining areas.
Photo: The Tiny House Concierge
Designed with great attention to detail, the galley kitchen blends style with modern functionality. The custom flat cabinetry combined with a green glass tile backsplash creates a cooking space that exudes elegance. But the beauty of this kitchen goes deeper than great tile. It also offers ample storage for cooking essentials, a generous cooking surface, and a plethora of modern appliances that make cooking a breeze. Apart from the regular four-burner cooktop, oven, range hood, and sink, this kitchen also has a dishwasher and a full-size fridge/freezer that is cleverly camouflaged behind cabinet doors.
One side of the countertop is elegantly extended into a bar section with two flashy golden stools underneath. It is a multifunctional corner that can be a small yet intimate dining area or a practical workspace that takes up minimal floor space.
When you step into the bathroom, you’ll be enveloped by the same feeling of luxury and elegance, this time blended with some boho vibes thanks to a beautiful vanity with a speckled countertop, a vintage mirror, and a nature-themed wallpaper. There is also a large walk-in shower stall with glass door and sleek brass fittings, as well as a washer/dryer unit.
Photo: The Tiny House Concierge
La Montagne de Luxe has two lofts that offer sleeping space for up to four people. The master loft with staircase access can accommodate a queen-size mattress and is incredibly luminous thanks to four small windows. A half-wall offers a bit of privacy and protection, and it also integrates some storage space for books, clothes, and other belongings.
The secondary loft is a bit smaller and lies above the living room. It can be reached via an extendable ladder and can be used as an extra sleeping space for guests or storage.
The La Montagne de Luxe tiny home on wheels is on sale for $150,000. With its beautiful finishes and cozy atmosphere, this compact dwelling once again demonstrates that downsizing does not have to mean sacrificing comfort, aesthetics, or a sense of home.
Considering Georgia for your college years? You’re in for a treat! Georgia’s top college towns are more than just destinations for education, they’re lively communities with endless possibilities.
From cutting-edge tech programs to thriving arts scenes, there’s a perfect Georgia college town waiting for you. Whether you’re an English major starting a new chapter by finding the perfect apartment in Athens or a career professor looking for your forever home in Macon, the Peach State is where you want to be.
Let’s take a tour of nine of Georgia’s top college towns and the many things that make them such stellar spots to call home for four years or more.
The University of Georgia (UGA) is known for its strong programs in business, journalism, and public relations. Many students also choose UGA for its exceptional veterinary and agriculture programs, offering hands-on experiences and extensive research opportunities. UGA’s law and public affairs programs also attract students interested in policy and governance, providing a comprehensive educational experience for all interests.
Athens and UGA have a symbiotic relationship. The university partners with local businesses for internships and job placements, giving students practical experience while supporting the local economy. UGA collaborates with the Athens community on various cultural and athletic events, like the Athens Music Project and the legendary UGA football games. Beyond that, UGA’s Office of Service-Learning connects students with community service projects, strengthening ties with local nonprofits.
Apartments near University of Georgia | Houses for rent near University of Georgia
Georgia Southern University stands out with strong programs in business, education, and health professions. The university also has strong engineering and information technology departments. Georgia Southern’s logistics and supply chain management program is particularly notable, providing specialized training for the growing and essential logistics industry.
The university’s relationship with Statesboro includes community service projects and local business partnerships. Georgia Southern’s Small Business Development Center supports local entrepreneurs, fostering economic growth and innovation in the town. The university also collaborates with local schools on educational initiatives, improving K-12 education through mentorship and resources.
Apartments near Georgia Southern University | Houses for rent near Georgia Southern University
As the name implies, Savannah College of Art and Design (SCAD) excels in arts, design, and creative technology programs. Students flock to SCAD for its cutting-edge curriculum and industry-standard facilities in film, fashion, and interactive design. SCAD’s sequential art program is also a draw, preparing students for careers in comics, graphic novels, and animation.
Savannah and SCAD are intertwined, with the college driving much of the city’s creative scene. SCAD’s annual events, like the Savannah Film Festival and SCADstyle, draw visitors from all over. SCAD also collaborates with local businesses on design projects, offering students real-world experience while enhancing the city’s aesthetic.
Apartments near SCAD | Houses for rent near SCAD
4. Milledgeville – Georgia College and State University
Georgia College & State University is known for its liberal arts programs, particularly in literature, history, and the performing arts. The college also has strong business and nursing programs, drawing students from all over the Peach State and beyond. Georgia College’s environmental science program is noteworthy, focusing on sustainability and conservation issues.
The university and Milledgeville collaborate on plenty of projects, enhancing student life and the town’s overall appeal. Georgia College’s events and public lectures are open to residents, fostering a sense of community and shared learning. The university’s partnership with local government on sustainability initiatives also promotes environmental stewardship in the town.
Apartments near Georgia College & State University | Houses for rent near Georgia College & State University
Mercer University offers excellent programs in law, pharmacy, and liberal arts. The medical and engineering schools are also highly respected, attracting students interested in comprehensive, interdisciplinary education. Mercer’s Stetson-Hatcher School of Business is known for its entrepreneurial training, helping students launch successful startups.
Mercer plays a significant role in Macon’s community through healthcare initiatives and legal aid services. The university’s partnerships with local hospitals and clinics, like the Navicent Health system, provide students with practical experience while improving community health outcomes. Mercer Law School’s public interest program also offers free legal assistance to underserved residents, supporting social justice in the region.
Apartments near Mercer University | Houses for rent near Mercer University
Valdosta State University offers top programs in education, nursing, and business administration. The university’s music and arts programs are also well known. Valdosta State’s social work program is notable, preparing students for careers in community service and advocacy.
Valdosta State’s engagement with Valdosta includes partnerships with local schools and healthcare facilities. These collaborations offer students practical experience and contribute to the community’s educational and health services.
Apartments near Valdosta State University | Houses for rent near Valdosta State University
The University of West Georgia is praised for its education, business, and nursing programs. The psychology and criminology departments are also popular, offering unique research and internship opportunities. The university’s sports management tract is another highlight, providing specialized training for careers in the sports industry.
Carrollton benefits from the university’s presence through community outreach and economic development initiatives. The university’s partnership with local industries provides students with hands-on learning experiences and supports regional growth. Additionally, the university’s Center for Public History collaborates with local organizations to preserve and promote the town’s historical heritage.
Apartments near University of West Georgia | Houses for rent near University of West Georgia
The University of North Georgia (UNG) is known for its strong nursing, criminal justice, and military programs. The university also offers comprehensive degrees in business and education, attracting a diverse student body.
Dahlonega and the university’s connection to the military and local businesses creates opportunities for student internships and employment, fostering a tight-knit community. UNG’s Dahlonega campus also hosts the annual Gold Rush Days festival, celebrating the town’s history and bringing together students and residents.
Apartments near University of North Georgia | Houses for rent near University of North Georgia
Augusta University excels in medical, dental, and nursing programs. The university’s allied health sciences and cybersecurity programs are also top choices for students seeking specialized education. Augusta’s Medical College of Georgia is particularly notable, being one of the oldest and most prestigious medical schools in the South.
Augusta University partners with hospitals and clinics around Augusta, providing students with hands-on medical training. The university’s cybersecurity initiatives also bolster Augusta’s reputation as a center for tech innovation and defense. The Georgia Cyber Center, located on campus, collaborates with government agencies and private companies, offering students cutting-edge research opportunities.
Apartments near Augusta University | Houses for rent near Augusta University
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 250,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Considering Georgia for your college years? You’re in for a treat! Georgia’s top college towns are more than just destinations for education, they’re lively communities with endless possibilities.
From cutting-edge tech programs to thriving arts scenes, there’s a perfect Georgia college town waiting for you. Whether you’re an English major starting a new chapter by finding the perfect apartment in Athens or a career professor looking for your forever home in Macon, the Peach State is where you want to be.
Let’s take a tour of nine of Georgia’s top college towns and the many things that make them such stellar spots to call home for four years or more.
The University of Georgia (UGA) is known for its strong programs in business, journalism, and public relations. Many students also choose UGA for its exceptional veterinary and agriculture programs, offering hands-on experiences and extensive research opportunities. UGA’s law and public affairs programs also attract students interested in policy and governance, providing a comprehensive educational experience for all interests.
Athens and UGA have a symbiotic relationship. The university partners with local businesses for internships and job placements, giving students practical experience while supporting the local economy. UGA collaborates with the Athens community on various cultural and athletic events, like the Athens Music Project and the legendary UGA football games. Beyond that, UGA’s Office of Service-Learning connects students with community service projects, strengthening ties with local nonprofits.
Apartments near University of Georgia | Houses for rent near University of Georgia
Georgia Southern University stands out with strong programs in business, education, and health professions. The university also has strong engineering and information technology departments. Georgia Southern’s logistics and supply chain management program is particularly notable, providing specialized training for the growing and essential logistics industry.
The university’s relationship with Statesboro includes community service projects and local business partnerships. Georgia Southern’s Small Business Development Center supports local entrepreneurs, fostering economic growth and innovation in the town. The university also collaborates with local schools on educational initiatives, improving K-12 education through mentorship and resources.
Apartments near Georgia Southern University | Houses for rent near Georgia Southern University
As the name implies, Savannah College of Art and Design (SCAD) excels in arts, design, and creative technology programs. Students flock to SCAD for its cutting-edge curriculum and industry-standard facilities in film, fashion, and interactive design. SCAD’s sequential art program is also a draw, preparing students for careers in comics, graphic novels, and animation.
Savannah and SCAD are intertwined, with the college driving much of the city’s creative scene. SCAD’s annual events, like the Savannah Film Festival and SCADstyle, draw visitors from all over. SCAD also collaborates with local businesses on design projects, offering students real-world experience while enhancing the city’s aesthetic.
Apartments near SCAD | Houses for rent near SCAD
4. Milledgeville – Georgia College and State University
Georgia College & State University is known for its liberal arts programs, particularly in literature, history, and the performing arts. The college also has strong business and nursing programs, drawing students from all over the Peach State and beyond. Georgia College’s environmental science program is noteworthy, focusing on sustainability and conservation issues.
The university and Milledgeville collaborate on plenty of projects, enhancing student life and the town’s overall appeal. Georgia College’s events and public lectures are open to residents, fostering a sense of community and shared learning. The university’s partnership with local government on sustainability initiatives also promotes environmental stewardship in the town.
Apartments near Georgia College & State University | Houses for rent near Georgia College & State University
Mercer University offers excellent programs in law, pharmacy, and liberal arts. The medical and engineering schools are also highly respected, attracting students interested in comprehensive, interdisciplinary education. Mercer’s Stetson-Hatcher School of Business is known for its entrepreneurial training, helping students launch successful startups.
Mercer plays a significant role in Macon’s community through healthcare initiatives and legal aid services. The university’s partnerships with local hospitals and clinics, like the Navicent Health system, provide students with practical experience while improving community health outcomes. Mercer Law School’s public interest program also offers free legal assistance to underserved residents, supporting social justice in the region.
Apartments near Mercer University | Houses for rent near Mercer University
Valdosta State University offers top programs in education, nursing, and business administration. The university’s music and arts programs are also well known. Valdosta State’s social work program is notable, preparing students for careers in community service and advocacy.
Valdosta State’s engagement with Valdosta includes partnerships with local schools and healthcare facilities. These collaborations offer students practical experience and contribute to the community’s educational and health services.
Apartments near Valdosta State University | Houses for rent near Valdosta State University
The University of West Georgia is praised for its education, business, and nursing programs. The psychology and criminology departments are also popular, offering unique research and internship opportunities. The university’s sports management tract is another highlight, providing specialized training for careers in the sports industry.
Carrollton benefits from the university’s presence through community outreach and economic development initiatives. The university’s partnership with local industries provides students with hands-on learning experiences and supports regional growth. Additionally, the university’s Center for Public History collaborates with local organizations to preserve and promote the town’s historical heritage.
Apartments near University of West Georgia | Houses for rent near University of West Georgia
The University of North Georgia (UNG) is known for its strong nursing, criminal justice, and military programs. The university also offers comprehensive degrees in business and education, attracting a diverse student body.
Dahlonega and the university’s connection to the military and local businesses creates opportunities for student internships and employment, fostering a tight-knit community. UNG’s Dahlonega campus also hosts the annual Gold Rush Days festival, celebrating the town’s history and bringing together students and residents.
Apartments near University of North Georgia | Houses for rent near University of North Georgia
Augusta University excels in medical, dental, and nursing programs. The university’s allied health sciences and cybersecurity programs are also top choices for students seeking specialized education. Augusta’s Medical College of Georgia is particularly notable, being one of the oldest and most prestigious medical schools in the South.
Augusta University partners with hospitals and clinics around Augusta, providing students with hands-on medical training. The university’s cybersecurity initiatives also bolster Augusta’s reputation as a center for tech innovation and defense. The Georgia Cyber Center, located on campus, collaborates with government agencies and private companies, offering students cutting-edge research opportunities.
Apartments near Augusta University | Houses for rent near Augusta University
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 250,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Considering Georgia for your college years? You’re in for a treat! Georgia’s top college towns are more than just destinations for education, they’re lively communities with endless possibilities.
From cutting-edge tech programs to thriving arts scenes, there’s a perfect Georgia college town waiting for you. Whether you’re an English major starting a new chapter by finding the perfect apartment in Athens or a career professor looking for your forever home in Macon, the Peach State is where you want to be.
Let’s take a tour of nine of Georgia’s top college towns and the many things that make them such stellar spots to call home for four years or more.
The University of Georgia (UGA) is known for its strong programs in business, journalism, and public relations. Many students also choose UGA for its exceptional veterinary and agriculture programs, offering hands-on experiences and extensive research opportunities. UGA’s law and public affairs programs also attract students interested in policy and governance, providing a comprehensive educational experience for all interests.
Athens and UGA have a symbiotic relationship. The university partners with local businesses for internships and job placements, giving students practical experience while supporting the local economy. UGA collaborates with the Athens community on various cultural and athletic events, like the Athens Music Project and the legendary UGA football games. Beyond that, UGA’s Office of Service-Learning connects students with community service projects, strengthening ties with local nonprofits.
Apartments near University of Georgia | Houses for rent near University of Georgia
Georgia Southern University stands out with strong programs in business, education, and health professions. The university also has strong engineering and information technology departments. Georgia Southern’s logistics and supply chain management program is particularly notable, providing specialized training for the growing and essential logistics industry.
The university’s relationship with Statesboro includes community service projects and local business partnerships. Georgia Southern’s Small Business Development Center supports local entrepreneurs, fostering economic growth and innovation in the town. The university also collaborates with local schools on educational initiatives, improving K-12 education through mentorship and resources.
Apartments near Georgia Southern University | Houses for rent near Georgia Southern University
As the name implies, Savannah College of Art and Design (SCAD) excels in arts, design, and creative technology programs. Students flock to SCAD for its cutting-edge curriculum and industry-standard facilities in film, fashion, and interactive design. SCAD’s sequential art program is also a draw, preparing students for careers in comics, graphic novels, and animation.
Savannah and SCAD are intertwined, with the college driving much of the city’s creative scene. SCAD’s annual events, like the Savannah Film Festival and SCADstyle, draw visitors from all over. SCAD also collaborates with local businesses on design projects, offering students real-world experience while enhancing the city’s aesthetic.
Apartments near SCAD | Houses for rent near SCAD
4. Milledgeville – Georgia College and State University
Georgia College & State University is known for its liberal arts programs, particularly in literature, history, and the performing arts. The college also has strong business and nursing programs, drawing students from all over the Peach State and beyond. Georgia College’s environmental science program is noteworthy, focusing on sustainability and conservation issues.
The university and Milledgeville collaborate on plenty of projects, enhancing student life and the town’s overall appeal. Georgia College’s events and public lectures are open to residents, fostering a sense of community and shared learning. The university’s partnership with local government on sustainability initiatives also promotes environmental stewardship in the town.
Apartments near Georgia College & State University | Houses for rent near Georgia College & State University
Mercer University offers excellent programs in law, pharmacy, and liberal arts. The medical and engineering schools are also highly respected, attracting students interested in comprehensive, interdisciplinary education. Mercer’s Stetson-Hatcher School of Business is known for its entrepreneurial training, helping students launch successful startups.
Mercer plays a significant role in Macon’s community through healthcare initiatives and legal aid services. The university’s partnerships with local hospitals and clinics, like the Navicent Health system, provide students with practical experience while improving community health outcomes. Mercer Law School’s public interest program also offers free legal assistance to underserved residents, supporting social justice in the region.
Apartments near Mercer University | Houses for rent near Mercer University
Valdosta State University offers top programs in education, nursing, and business administration. The university’s music and arts programs are also well known. Valdosta State’s social work program is notable, preparing students for careers in community service and advocacy.
Valdosta State’s engagement with Valdosta includes partnerships with local schools and healthcare facilities. These collaborations offer students practical experience and contribute to the community’s educational and health services.
Apartments near Valdosta State University | Houses for rent near Valdosta State University
The University of West Georgia is praised for its education, business, and nursing programs. The psychology and criminology departments are also popular, offering unique research and internship opportunities. The university’s sports management tract is another highlight, providing specialized training for careers in the sports industry.
Carrollton benefits from the university’s presence through community outreach and economic development initiatives. The university’s partnership with local industries provides students with hands-on learning experiences and supports regional growth. Additionally, the university’s Center for Public History collaborates with local organizations to preserve and promote the town’s historical heritage.
Apartments near University of West Georgia | Houses for rent near University of West Georgia
The University of North Georgia (UNG) is known for its strong nursing, criminal justice, and military programs. The university also offers comprehensive degrees in business and education, attracting a diverse student body.
Dahlonega and the university’s connection to the military and local businesses creates opportunities for student internships and employment, fostering a tight-knit community. UNG’s Dahlonega campus also hosts the annual Gold Rush Days festival, celebrating the town’s history and bringing together students and residents.
Apartments near University of North Georgia | Houses for rent near University of North Georgia
Augusta University excels in medical, dental, and nursing programs. The university’s allied health sciences and cybersecurity programs are also top choices for students seeking specialized education. Augusta’s Medical College of Georgia is particularly notable, being one of the oldest and most prestigious medical schools in the South.
Augusta University partners with hospitals and clinics around Augusta, providing students with hands-on medical training. The university’s cybersecurity initiatives also bolster Augusta’s reputation as a center for tech innovation and defense. The Georgia Cyber Center, located on campus, collaborates with government agencies and private companies, offering students cutting-edge research opportunities.
Apartments near Augusta University | Houses for rent near Augusta University
Methodology
College towns are qualified as towns or cities with at least one college or university and fewer than 250,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Newrez is asking a Pennsylvania federal court to throw out OneTrust Home Loans’ recent counterclaims.
The two lenders have been sparring via legal filings following the departure of James Hecht, former head of production at Newrez, and a handful of executives to OneTrust in the first half of the year.
Newrez has accused Hecht, OneTrust’s CEO, of being a mastermind behind an elaborate ruse to raid employees from the Pennsylvania-based company and steal trade secrets.
In response to Newrez’s litigation, OneTrust accused Newrez of unfair competition, tortious interference with contract, and defamation. Specifically, Newrez has made it hard for OneTrust to recruit future employees, the San Diego-based company claims.
The lender in its counter complaint also alleges that Newrez has had a “love and hate” relationship with its retail channel, which it purportedly tried to sell twice.
Newrez notes in a filing June 5 that OneTrust has “failed to state any claim upon which relief can be granted.”
It also added that over 70 Newrez employees (and counting) have actually transitioned to OneTrust since the departure of Hecht and others, which has resulted “in substantial loss to Newrez.”
“OneTrust lobs unwarranted allegations of wrongdoing premised on Newrez bringing this lawsuit against OneTrust and vague, speculative allegations of defamation against Newrez,” the recent filing reads.
The mortgage lender goes on to take apart the claims made by its competitor, noting the “counterclaims contain conclusory allegations of unlawful conduct but lack any…factual substance.”
OneTrust’s unfair competition claim depends greatly on Newrez filing the suit against it, alleging it was done for improper purposes and to unfairly compete against it. Newrez’s recent filing argues this “is not the type of conduct that supports an unfair competition claim [in Pennsylvania.]”
Additionally, OneTrust’s tortious interference of contract claim alleges Newrez is “preventing the departure of Newrez employees who seek better job opportunities with OneTrust.” But the Pennsylvania-mortgage lender and servicer argues this claim “consists of nothing more than conclusory allegations and fails to specifically identify what contracts — existing or prospective — with which Newrez allegedly interfered.”
Newrez does admit, however, that around February 2024 OneTrust entered an employment contract with a former Newrez employee. She was going to be a manager but ultimately opted to not work at OneTrust because of fear of litigation.
“This individual resigned her position with OneTrust, and, instead, joined a competing mortgage servicer,” the filing says.
Joshua Eskine, founder of OneTrust Home Loans, said in a statement Thursday the company fully stands behind the “facts and claims we set forth.”
“[We] will forcefully respond to Newrez’s baseless motion in due course in the litigation where the truth as we explained it will prevail.”
Meanwhile, a spokesperson for Newrez said the company does not “comment on active litigation.”
“However, this filing reiterates our commitment to protecting our company’s interests, values, and reputation, and we will vigorously pursue all legal remedies available to us,” he added.
Earlier this year, Newrez reasserted its dedication to retail with an executive noting that it is “100% committed to the distributed retail channel.” They also highlighted that “connecting our servicing portfolio and our servicing leads on a localized basis is really the differentiator on how we connect with our customers.”
Speaking of servicing, Newrez finalized the acquisition of Computershare Mortgage Services and affiliate Specialized Loan Servicing LLC in early May.
Real estate investment trust Rithm Capital Corp, parent company of Newrez, bought the company for close to $720 million as a means to further expand its servicing presence.
The integration of Computershare adds $149 billion in unpaid principal balance to the company. This includes $104 billion in third-party servicing to Newrez’s portfolio, the company said in a recent press release
The New York-based company posted net income of $261.6 million, equivalent to 54 cents per share in the first quarter. The mortgage originations and servicing segment at Rithm, the parent company of Newrez, brought in $311.9 million in net income during the quarter as loan production and fair value of MSRs both improved.
Inside: Learn how much your 50k salary is hourly. Plus find tips to make more money and live the lifestyle you want.
You are thinking that 50k salary is a solid hourly wage, but you want to know the true answer.
When you get your first job and you are making just above minimum wage making over $50,000 a year seems like it would provide amazing opportunities for you. Right?
The median household income was $70,084 in 2021 not much different from the previous year (source). Think of it as a bell curve with $70 at the top; the median means half of the population makes less than that and half makes more money.
The average income in the U.S. is $55,350 for a 40-hour workweek; that is an increase of 1.1% from the previous year (source). That means if you take everyone’s income and divide the money out evenly between all of the people.
But, the question remains…can you truly live off 50,000 per year in today’s society since it is barely above the average income and yet still below household incomes? The question you want to ask all of your friends is $50000 per year a good salary.
In this post, we are going to dive into everything that you need to know about a $50000 salary including hourly pay and a sample budget on how to spend and save your money.
These key facts will help you with money management and learn how much per hour $50k is as well as what you make per month, weekly, and biweekly.
Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…
Can I make a living on this salary?
$50000 a year is How Much an Hour?
When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 50k a year hourly. That way you can decide whether or not the job is worthwhile for you.
For our calculations to figure out how much is 50K salary hourly, we used the average five working days of 40 hours a week.
50000 salary / 2080 hours = $24.04 per hour
$50000 a year is $24.04 per hour
Let’s breakdown how that 50000 salary to hourly number is calculated.
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $50000 by 2,080 working hours and the result is $24.04 per hour.
Just above $24 an hour.
That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.
What If I Increased My Salary?
Just an interesting note… if you were to increase your annual salary by $5K, it would increase your hourly wage to over $26 an hour – a difference of $2.40 per hour.
To break it down – 55k a year is how much an hour = $26.44
That difference will help you fund your savings account; just remember every dollar adds up.
How Much is $50K salary Per Month?
On average, the monthly amount would be $4,167.
Annual Salary of $50,000 ÷ 12 months = $4,166.67 per month
This is how much you make a month if you get paid 50000 a year.
$50k a year is how much a week?
This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $50k salary a year, how much can I expect to make at the end of the week for my effort?
Once again, the assumption is 40 hours worked.
Annual Salary of$50000/52 weeks = $961.54 per week.
$50000 a year is how much biweekly?
For this calculation, take the average weekly pay of $961.54 and double it.
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x 52 weeks = 260 working days
Annual Salary of$50000 / 260 working days = $192 per day
If you work a 10 hour day on 208 days throughout the year, you make $240 per day.
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$50000 Salary is…
$50000 – Full Time
Total Income
Yearly Salary (52 weeks)
$50,000
Monthly Wage
$4,167
Weekly Salary(40 Hours)
$961
Bi-Weekly Wage (80 Hours)
$1,923
Daily Wage (8 Hours)
$192
Daily Wage (10 Hours)
$204
Hourly Wage
$24.04
Net Estimated Monthly Income
$3,181
Net Estimated Hourly Income
$18.35
**These are assumptions based on simple scenarios.
50k a year is how much an hour after taxes
Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with a salary range of up to $160,200.
When you make below the average household income, the amount of taxes taken out hurts your hourly wage.
Every single tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
So, how much an hour is 50000 a year after taxes?
Gross Annual Salary: $50,000
Federal Taxes of 12%: $6,000
State Taxes of 4%: $2,000
Social Security and Medicare of 7.65%: $3,825
$50k Per Year After Taxes is $38,175.
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$38,175 ÷ 2,080 hours = $18.35 per hour
After estimated taxes and FICA, you are netting $38,175 per year, which is $11,825 per year less than what you expect.
***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***
Taxes Based on Your State
In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody who lives in a no tax state like Texas or Florida. This is the debate of HCOL vs LCOL.
Thus, your yearly gross $50000 income can range from $34,175 to $40,175 depending on your state income taxes.
That is why it is important to realize the impact income taxes can have on your take-home pay. It is one of those things that you should acknowledge and obviously, you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $50,000 income.
My 50k Salary Hourly Calculator
More than likely, your salary is not a flat 50k, here is a tool to convert your salary to hourly calculator.
Many of the starting freight broker salaries are in this range (and before commission)!
Many teachers are hovering in this range, which may make you wonder do teachers get paid in the summer?
Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person?
And there’s no wrong or right, it is what works best for you.
One of the biggest factors to consider is your cost of living.
In another post, we detailed the differences between living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $50,000 a year is going to be much more difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower-cost area.
To stretch your dollar further in the high cost of living area, you would have to probably live a very frugal lifestyle and prioritize where you want to spend money and where you do not. Whereas, if you live in a low cost of living area, you can live a much more lavish lifestyle because the cost of living is less. Thus, you have more fun spending left in your account each month.
For many, this is when they are looking at upgrading their car to something nicer, but you must be aware of is a car an asset or liability.
As we noted earlier in the post, $50,000 a year is slightly below the average income that you would find in the United States. Thus, you still have to be wise with how you spend your money.
What a $50,000 lifestyle will buy you:
If you are debt-free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.
You are able to rent in a decent neighborhood in LCOL and even MCOL city.
You should be able to meet your expenses each and every month.
Ability to make sure that saving money is a priority, and very possibly save $5000 in 52 weeks.
Learn how much money should I have saved by 30 since the average salary is $50k.
When A $50,000 Salary Will Hold you Back:
However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 50k a year is going to be pretty darn difficult.
There are two factors that will keep holding you back:
You must pay off debt and cut all fun spending and extra expenses.
Break the paycheck to paycheck cycle.
Not using one of the millionaire quotes for motivation.
It is possible to get ahead with money!
It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.
$50K a year Budget – Example
As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money left is for fun spending.
This is how zero based budgeting works.
If you want to know how to manage 50k salary the best, then this is a prime example for you to compare your spending.
You can compare your budget to the ideal household budget percentages.
recommended budget percentages based on $50000 a year salary:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$250
Savings
15-25%
$750
Housing
20-30%
$1,000
Utilities
4-7%
$167
Groceries
5-12%
$375
Clothing
1-4%
$52
Transportation
4-10%
$146
Medical
5-12%
$188
Life Insurance
1%
$21
Education
1-4%
$42
Personal
2-7%
$77
Recreation / Entertainment
3-8%
$125
Debts
0% – Goal
$0
Government Tax (including Income Taxes, Social Security & Medicare)
15-25%
$985
Total Gross Monthly Income
$4,167
**In this budget, prioritization was given to basic expenses and no debt.
Is $50k a year a Good Salary?
As we stated earlier if you are able to make $50,000 a year, that is a decent salary. You are making more money than the minimum wage and almost double in many cities.
While 50000 is a good salary starting out in your working years. It is a salary that you want to increase before your expenses go up or the people you provide for increase.
However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. And what they thought used to be a great salary actually is not making ends meet at this time.
This $50k salary would be considered a lower middle class salary. This salary is something that you can live on if you are wise with money.
Check: Are you in the middle class?
In fact, this income level in the United States has enough buying power to put you in the top 95 percentile globally for per person income (source).
The question you need to ask yourself with your 50k salary is:
Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?
In the future years and with possible inflation, in many modest cities, 50,000 a year will not be a good salary because the cost of living is so high, whereas these are some of the cities where you can make a comfortable living at 50,000 per year.
If you are looking for a career change, you want to find jobs paying at least $60000 a year.
Is 50k a good salary for a Single Person?
Simply put, yes.
You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.
Your living expenses and ideal budget are much less. Thus, you can live extremely comfortably on $50000 per year.
And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.
Deep Dive: What Is A Good Salary For A Single Person in Today’s Society?
Is 50k a good salary for a family?
Many of the same principles apply above on whether $50000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.
The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child.
That means that amount of money is coming out of the income that you earned.
So, the question really remains can you provide a good life for your family making $50,000 a year? This is the hardest part because each family has different choices, priorities, and values.
More or less, it comes down to two things:
The location where you live in.
Your lifestyle choices.
You can live comfortably as a family on this salary, but you will not be able to afford everything.
Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 50,000 per year, then the combined income for the household would be $100,000. Thus making your combined salary a very good income.
Learn how much money a family of 4 needs in each state.
Can you Live on $50000 Per Year?
As we outlined earlier in the post, $50,000 a year:
$24.04 Per Hour
$192-240 Per Day (depending on length of day worked)
$961 Per Week
$1,923 Per Biweekly
$4,167 Per Month
Next up is making $52000 a year.
Like anything else in life, you get to decide how to spend, save and give your money.
That is the difference for each person on whether or not you can live a middle-class lifestyle depends on many potential factors. If you live in California or New Jersey you are gonna have a tougher time than Oklahoma or even Texas.
In addition, if you are early in your career, starting out around 43,000 a year, that is a great place to be getting your career. However, if you have been in your career for over 20 years and still making under $45K, then you probably need to look at asking for pay increases, picking up a second job, or finding a different career path.
In fact, this might be a good time to learn how to trade stocks with the best Travel and Travel course.
Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.
But one of the things that can help you the most is to stick to our ideal household budget percentages to make sure you stay on track.
Learn exactly how much do I make per year…
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
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This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
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