Borrow Smart, Repay Smart: Paying for College (Part 1 of 2)

Dear Borrow Smart Family,

in the US, getting a college education can be prohibitively expensive. A 2019 study conducted by the US department of education found that For the 2016–17 academic year, annual current dollar prices for undergraduate tuition, fees, room, and board were estimated to be $17,237 at public institutions, $44,551 at private nonprofit institutions, and $25,431 at private for-profit institutions.* Ultimately, the way you handle the financing of your house, impacts your ability to achieve your short and long-term financial goals, including college savings.

Below, I dig into part 1 of a 3 part series, for parents or soon-to-be parents who have decided they want to help their children afford a college education.

Make sure your mortgage is efficient for the savings strategy you need. Over time, your financial story and life situation will change. Having a mortgage checkup is a great way to ensure that your mortgage still aligns with your current goals. To schedule a mortgage checkup, either reach out to your preferred SPMC Loan Officer on our team or e-mail borrowsmart@spmc.com. I wish you all the best!

* SOURCE: U.S. Department of Education, National Center for Education Statistics. (2019). Digest of Education Statistics, 2017 (NCES 2018-070), Chapter 3.

About Trevor Hammond

As a veteran of the mortgage industry, Trevor Hammond is the co-author of "Borrow Smart, Retire Rich," a Certified Mortgage Adviser and a founding Faculty Member and Contributor to the National Institute of Financial Education (www.niofe.org). And he has provided thousands of homeowners with the clarity and confidence to make smarter decisions when it comes to their mortgages and money. In 2013 he launched an entirely new kind of mortgage company: Aspire Mortgage Group, which is committed to educating and empowering homeowners to increase savings, eliminate bad debt, and safely increase net worth. The specialized group of mortgage professionals at Aspire Mortgage Group have redefined what homeowners should expect from a mortgage company. To learn more about Trevor Hammond and our team of mortgage advisors please visit our website at www.aspiremortgagegroup.com or email Trevor directly: trevor.hammond@sierrapacificmortgage.com. Aspire Mortgage is a Sierra Pacific Mortgage Partner.
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