The Longevity Opportunity in the U.S. is Comparable to Emerging BRIC Markets

Lafayette, California (PRWEB) February 13, 2012
In 2011 the first of the baby boomer generation began turning 65 years old. Near daily stories in the media are generated about the issues, needs, impact, influence and sheer size of the eldest of our population. The growing discourse includes changes to retirement trends, the fact that the 55+ age group is the fastest-growing segment of entrepreneurs, the call to advertisers that they can no longer afford to ignore this audience, and announcements of new outlets catering to these demographics. From aging-in-place technologies to social and mobile media, to the spending power of grandparents, the overall wealth of opportunities in meeting the needs of this mature market is the purpose of the ninth annual What’s Next Boomer Business Summit, being held March 28 in Washington, D.C. There the country’s leading analysts, top researchers and executive strategists will gather to introduce new research, products and services, and to present the definitive ways to reach and successfully sell to baby boomers and senior consumers. It is the event to meet the entrepreneurs and brand teams pursuing the baby boomer customer, and learn the marketing strategies that work to reach them.
It opens with a keynote delivered by veteran political strategist Donna Brazile, on ‘Designing a Personalized Business Model for the New Economy’. Jody Holtzman, SVP of Thought Leadership Group at AARP will define and examine the entrepreneurial and market opportunities related to the new Longevity Economy. His keynote will unearth current economic activity related to the demographic phenomenon of people living longer, richer lives and will address areas where the needs and wants of Americans 45 and older are not being met. Also, he will present a new framework for approaching both the societal needs and economic opportunities related to a changing and vital population.
The event tracks will explore trends in the following areas, with agenda highlights:

•     Innovation and frugality
•     Baby boomers have the money and desire to bond with their grandchildren, but given today’s investment climate, will there be money in the future for them to inherit? Moderator Lori Bitter, President, Crew Media, will get Jodi Olshevski, Assistant VP, The Hartford, Robert Stephen, VP, My Home & Family Portfolio, IVS-Portfolio Management, AARP, and Sandy Timmermann, Assistant Vice President, MetLife and Director of the MetLife Mature Market Institute to tell what are the changes and choices in work, retirement, and for money protection that older adults can make to thrive in the age of lowered expectations.
•     It is the mature consumer segment that is currently generating the most interest and excitement–grandparents. The grandparent economy is large (40 million), growing and lucrative. Grandparents are spending money on necessities, learning and luxury for their grandchildren. They are investing in tuition, tutoring, and technology. Missy Sullivan, Senior Editor of the Wall Street Journal’s Smart Money, and Robert Stephen, VP, My Home & Family Portfolio, IVS-Portfolio Management, AARP, identify the business ecosystem of brands baby boomers are embracing with this new role.
•     Baby boomer women are the chief purchasing officers, chief caregiving officers, and chief healthcare officers for their families. They often influence purchase decisions in travel and investment for themselves and extended families. Myrna Blyth, Editor in Chief of ThirdAge.com shares insights from her inspiring panel of women in new media and business.
•     Integrated media and marketing, social, mobile, gaming
•     Moderated by Deborah Jacobs of Forbes, the ‘Tech Trends’ session will answer what mature consumers want most from their smart phones, tablets, and the Internet itself. Laurie Orlov, Founder, Aging in Place Technology Watch, and Lee Rainie, Director, Pew Research Center’s Internet & American Life Project, will present the latest data to answer this, and discuss how that information can drive investment and strategies of companies small and large.
•     ‘Boomer Trends in E-tailing, Retailing and Mobile Commerce’ session delves into dramatic changes in consumer buying behavior in an online and mobile world. It is forcing retailers to think, staff and partner in new ways. Moderated by Gail Kirby, PhD, Marketing, Santa Clara University, she will have Jeff Hasen, CMO, Hipcricket and Candace Corlett, President, WSL Strategic Retail navigate the multiple-channel world of today.
•     Attendees will discover the latest trends in how companies are using media to drive leads, with industry leaders that include AARP’s Director of Social Communications & Strategy, Tammy Gordon.
•     Beth Carpenter, Digital Distribution, AARP brings with her one of the many bright minds from Google for the in-demand session ‘Using Google, Facebook and Twitter to Build Your Business’ that will aid businesses by showing them how to leverage Google’s many free products to maximize web traffic, conduct search engine optimization, and use tools such as Ad Words, Twitter, and Facebook to connect and engage potential customers.
•     The new service economy of housing, caregiving, mobility and healthcare
•     The prospect of a stalled homebuilding industry creating a surge in age-in-place remodeling is explored by Steve French, Managing Director, Natural Marketing Institute (NMI), and Gail Gibson Hunt, President & CEO, National Alliance for Caregiving. They explain why wireless home health technology will blossom in the face of health reform, and debate if the growing number of caregivers (and their policy influence) will get the attention of Congress.
•     The ‘Health Services 3.0’ panel will consider the businesses that are meeting baby boomers on their technology platform of choice when it comes to managing their health. Examining the burgeoning mHealth realm, this panel will include Jeff Shoemate, Vice President of Innovation & Business Development, United Healthcare-Medicare & Retirement, Ilya Oshman, SVP, FP&A, Weight Watchers and Charlotte Yeh, Chief Medical Officer, AARP.
•     Entrepreneurship and encore careers
•     With increased longevity, and a need and desire to work, boomers are exploring encore careers in record numbers. Mary Furlong, President & CEO, Mary Furlong & Associates, and Gene Zanlo, CEO, MBO Partners, will explore the fields with the greatest growth and case studies of those who are reimagining life anew.

Often cited as worth the cost of registration alone, the ‘Lunch with the Experts’ is every attendee’s chance for exclusive access to the best analysts, authors, bloggers, and boomer market experts at this summit. The list of table hosts is available at http://boomersummit.com/lunch.html.
The complete list of speakers is available at http://www.boomersummit.com/speakers.html.
“The boomer, senior and caregiver markets are large and growing. The changing economy has created a shift in spending that is becoming the new normal. This conference brings together the most innovative companies and top thought leaders in marketing, innovation and distribution,” Mary Furlong, What’s Next conference producer shared. “These markets are growing as rapidly as the emerging markets of Brazil, Russia, India and China. Join us in March to discover the important segments in the longevity economy.”
A press conference will take place on March 29 at 11:00 a.m. at the National Press Club. Speakers and sponsors will be making their new research product and service announcements.
Sponsors of What’s Next Boomer Business Summit are, at the platinum level: AARP, UnitedHealthcare and Crew Media; at the gold level: Microsoft, Linkage, Silverado Senior Living, MBO Partners, RLTV and Caring.com; at the silver level: General Mills, Google, GreatCall, Facetime Strategy, The Hartford, SilverRide, GrandCare Systems, Innovate LTC, Independa Inc., Starkey; at the bronze level: ABHOW, Hipcricket, Posit Science, MetLife Mature Market Institute, VibrantNation; refreshment break sponsor is Moving Mavens and Moving Solutions.
Registration, agenda and additional event details available at http://www.boomersummit.com. Registration costs are $275 at early bird rate (extended to February 21), $350 at the advance rate (February 22 to March 26) and $450 on March 27 and onsite.
What’s Next Boomer Business Summit
The ninth Annual What’s Next Boomer Business Summit is produced by Mary Furlong & Associates. What’s Next Boomer Business Summit is affiliated with the American Society on Aging (ASA) Aging in America Conference being held on March 28 to April 1, 2012 in Washington, D.C. Registration and program information is available at http://www.boomersummit.com. Facebook page is http://www.facebook.com/pages/2012-Whats-Next-Boomer-Business-Summit. Twitter username is WhatsNextBoomer, and hashtag is #boomersummit. It is produced by Mary Furlong & Associates.
Mary Furlong & Associates
Founded in 2003, Mary Furlong & Associates (MFA) works with companies seeking to capitalize on new business and investment opportunities in the Baby Boomer market. MFA provides business development, financing strategy and integrated marketing solutions to entrepreneurs, corporations and non-profit organizations serving the 50+ market. Mary Furlong, Ed.D., the firm’s founder and CEO, has guided the offline and online 40+ market strategies of leading corporations and non-profit organizations for more than 20 years. In 2011, Furlong was honored as one of the top 100 Women of Influence by the Silicon Valley Business Journal. Furlong is Dean’s Executive Professor of Entrepreneurship at Santa Clara University’s Leavey School of Business, and previously founded SeniorNet and ThirdAge Media. Her latest book, Turning Silver into Gold: How to Profit in the New Boomer Marketplace (FT Press), was published in 2007. More information available at http://www.maryfurlong.com.

 http://tourism9.cm/    http://vkins.com/

CN Creative Raises Series A Funding to Develop First Medically Approved Electronic Inhaler Nicotine Replacement …

MANCHESTER, England, Jan. 25, 2012 /PRNewswire/ — CN Creative, Ltd. (CNC), a healthcare company providing innovative and sustainable solutions to reduce smoking and smoking-related illnesses, today announced it has raised a Series A financing round led by Advent Life Sciences. The financing raised 2 million pounds, equivalent to approximately US $3.1 million. CNC intends to use the investment to continue and finalise development of its Nicadex™ electronic inhaler nicotine replacement therapy (NRT) product for use as part of medically supervised smoking cessation programmes. 
Despite large-scale public health efforts, about 20% of adults in the UK and the US continue to smoke. Smoking remains the most common cause of preventable death in the Western world and generates enormous costs for healthcare systems worldwide. Two-thirds of smokers report that they would like to quit, and about three-quarters of current smokers say they have tried to stop, but smoking is a powerfully addictive habit that can make quitting very difficult or almost impossible. Fewer than 10% of smokers are estimated to achieve success when trying to stop smoking on their own. In addition, studies show that currently available NRT products help only a small proportion of smokers to stop smoking permanently.
“CN Creative provides innovative approaches to reduce the harm caused by smoking, by helping smokers quit whenever possible or reduce their consumption of cigarettes when total abstinence is not achievable,” said David Newns, a co-founder and Company Director of CN Creative. “We believe our Nicadex electronic inhaler NRT, which will deliver pharmaceutical-grade nicotine using advanced electronic vaporisation technology, has the potential to help significant numbers of smokers stop entirely or significantly reduce their exposure to harmful tobacco smoke.”
Nicadex is similar in concept to the electronic cigarettes currently marketed to adult consumers by CN Creative and others, but with several key differences.
First, Nicadex will be tested in clinical trials and then submitted for regulatory review under the process used for other prescription NRT products, initially through the UK Medicines and Healthcare products Regulatory Agency (MHRA) and then through the US Food and Drug Administration (FDA) and other regulatory agencies.
Second, CNC intends to market the Nicadex electronic inhaler as a medically supervised NRT designed to reduce the harm caused by smoking and to help smokers quit as part of a comprehensive smoking cessation programme.
Third, the Nicadex electronic inhaler has been specially engineered and will be manufactured in the UK under the same stringent standards used for regulated medical products, and the pharmaceutical-grade nicotine solution it uses is being produced by CNC in its own UK-based cGMP facilities approved for the manufacture of prescription drugs.
“The support from our colleagues at Advent Life Sciences will enable CNC to undertake the clinical trials and medical regulatory review needed to confirm the safety and efficacy of Nicadex and to prepare for commercialisation. We expect to file for regulatory approval of the Nicadex electronic inhaler in the UK later this year,” added CN Creative co-founder and Company Director Chris Lord.
Nicadex is a hand-held device that delivers purified nicotine to the user through the vaporisation of a pharmaceutical-grade solution of nicotine. A rechargeable lithium battery powers the vaporiser that instantly turns the nicotine solution into a vapour that is inhaled by the user. Many users report that the sensation of using the Nicadex device is similar to smoking, but the vapour contains no smoke and none of the carbon monoxide, tar or thousands of toxic impurities that make smoking tobacco products so damaging to health. In addition, since there is no smoke, there are no smoke by-products that can cause “second-hand” harm to others.
“Decades of smoking cessation initiatives have had a positive impact on public health but millions continue to smoke and new approaches are urgently needed,” noted long-time smoking cessation and public health advocate Dr. Chris Steele. ”I am encouraged by the potential of the innovative Nicadex electronic inhaler being developed by CNC, which provides a smoke-free, tobacco-free nicotine replacement product in a format that is highly acceptable to smokers. If approved, Nicadex could be a valuable addition to our smoking cessation toolkit, immediately reducing the harm caused by smoking and enabling many smokers to proceed over time to full cessation. CNC’s emphasis on clinical testing, regulatory review, medical supervision and supportive services is encouraging, and I look forward to seeing the results of the clinical trials the company will be conducting this year.”
A distinctive element of CNC’s strategy is its recognition of the value of harm reduction. As noted in the influential 2010 UK government report, A Smokefree Future, “The tar and the carbon monoxide in smoked tobacco are the primary causes of smoking-related disease and death. … Nicotine (in the doses obtained from smoked and smokeless tobacco) is not a significant contributor to disease.” The report proposes that harm reduction measures should be an important element of smoking cessation programmes, noting that “this strategy … opens more routes to quitting, which, we believe, will help thousands more smokers to quit successfully. The new routes will encourage smokers to … manage their nicotine addiction using a safer alternative product … and dramatically reduce the harmful effects to their health, and the harmful effects to those around them. …”[1]
Similarly, after a comprehensive review of the medical and scientific literature, the American Association of Public Health Physicians (AAPHP) became the first medical organisation in the US officially to endorse tobacco harm reduction as a viable strategy to reduce the death toll related to cigarette smoking. It advocates in its white paper, The Case for Harm Reduction, that inveterate smokers – who are unable or unwilling to abstain from nicotine and tobacco – should be encouraged to switch to lower-risk smokeless tobacco products.[2]
Dale R. Pfost, PhD, a General Partner at Advent Life Sciences and the newly appointed Chairman of CN Creative commented, “CNC’s strategy of applying their smoking cessation expertise and the technology innovations first deployed in their Intellicig® electronic cigarettes to provide smokers with an advanced electronic inhaler nicotine replacement therapy is a potential game changer. We believe that Nicadex will significantly increase smokers’ chances of ending or reducing their reliance on smoking, while also reducing the well-documented health risks caused by smoking tobacco. With this investment in CN Creative, we aim to continue our track record of investing in innovative life science companies with the potential to become best-in-class in their fields.”
Kaasim Mahmood, a Partner at Advent Life Sciences who is joining the CN Creative Board of Directors, added, “We believe CNC’s products have great clinical and commercial potential, and we are delighted to provide the CNC team with financial and strategic support as they embark on the clinical studies and regulatory review process central to the success of this exciting new approach.”
[1] Department of Health (2010). A Smokefree Future, 2010. Available at: http://www.dh.gov.uk/prod_consum_dh/groups/dh_digitalassets/@dh/@en/@ps/documents/digitalasset/dh_111789.pdf.
[2] Nitzkin JL, Rodu B. Tobacco Control Task Force, American Association of Public Health Physicians. The Case for Harm Reduction for Control of Tobacco-related Illness and Death, 2008. Available at: http://www.aaphp.org/Resources/Documents/20081026HarmReductionResolutionAsPassedl.pdf
About CN Creative
Headquartered in the Bioscience Incubator at Manchester University in the UK, CN Creative provides innovative and sustainable solutions to global problems arising from smoking and smoking-related illnesses. It has developed a distinctive portfolio of products and services focused on smoking cessation and harm reduction, including user-friendly nicotine delivery systems and patient-focused smoking cessation and support services. CNC’s diverse products include QuitDirect, an NHS-accredited supplier of comprehensive smoking cessation services, the Intellicig® electronic cigarette, ECOpure proprietary high purity nicotine preparations and NRT Direct, which provides traditional nicotine replacement therapy products and patient support services to publicly and privately sponsored smoking cessation programmes. CNC’s Nicadex™ electronic inhaler nicotine replacement therapy product is in clinical development for use as part of medically supervised smoking cessation programmes. For more information, visit www.cncbio.co.uk.
About Advent Life Sciences
Advent Life Sciences is the dedicated Life Sciences Fund at Advent Venture Partners, one of Europe’s best-established growth and venture capital firms. Advent Life Sciences invests predominantly in early-stage and growth equity life sciences companies in the UK, Europe and the US. It will back companies that have a first- or best-in-class approach in a range of sectors within the life sciences, including new drug discovery, enabling technologies, med-tech and diagnostics.
The Advent Life Sciences team is a leader in European life sciences capital. Its investments include  PowderMed, a therapeutic DNA vaccine company sold to Pfizer; Thiakis, an obesity treatment company acquired by Wyeth Pharmaceuticals; Respivert, a drug discovery company focused on respiratory diseases acquired by Johnson & Johnson; EUSA Pharma, a rapidly growing transatlantic specialty pharmaceutical company focused on late-stage oncology, pain control and critical care products; and, Algeta (OSE: ALGETA.OL – News), an oncology company developing treatments for bone metastases and disseminated tumours. For more information see www.adventventures.com.
For more information, please contact:
CN CreativeMediaBarbara Lindheim or Jennifer Anderson, BioCom Partners:
blindheim@biocompartners.com, +1 212 584-2276 ext. 201
janderson@biocompartners.com, +1 212 584-2276 ext. 202
CorporateDavid Newns
david.newns@cncbio.com +44 (0) 7834 767 367
Advent Life SciencesSophie Kreifman, Grayling:
sophie.kreifman@grayling.com; +44 20 7592 7924
http://tourism9.com/    http://vkins.com/

Morneau Shepell's New Online Financial Planning Service Helps Users Plan Their Financial Future

Service educates and arms individuals with tools to resolve their financial concerns.
TORONTO , Jan. 18, 2012 /CNW/ – At a time when people are slowly beginning to pay off their credit card bills from the holidays, Morneau Shepell Ltd., under the Shepell•fgi Employee Assistance Program (EAP), has introduced a new service to help employees not only resolve their current credit crunch, but also address their more complex financial concerns. The new Online Financial Planning Service allows users to create financial action plans tailored to their personal situation and regain control of their financial future.
According to a recent report released by Morneau Shepell in 2010, 63.2% of the time that users accessed their EAP for financial assistance, it was for personal debt and/or credit issues. This was followed by divorce/finances at 8.7%, bankruptcy at 7.4%, retirement at 5.7% and taxes at 4.6%. Significantly less were requests for investment planning purposes, indicating that employees were too concerned with current debt to plan for their future.
“What is needed,” explains Kevin Sorhaitz, Partner, Pension Consulting, Morneau Shepell, “is to combine debt counselling with investment education, so that employees have a better understanding of how current debt is connected to future retirement.”
Available 24/7, the service provides users with unbiased educational information and resources on credit/debt management, budgeting, bankruptcy, the financial aspects of separation/divorce, financial emergencies, retirement planning, employment transitions, and real estate. Users can access interactive worksheets and tools online—such as the personal debt consolidator tool or retirement savings calculator.
Designed as part of a holistic suite of services, Online Financial Planning Service complements existing financial, legal, mental health and work/life balance supports currently offered through the EAP.
“It’s no surprise that debt causes great anxiety and stress for people. It’s important to not only treat the cause, but also the effects. Take, for instance, someone who is recently divorced with children. We can help them regain a solid financial standing while lessening the stress of dealing with the divorce and new obligations like finding child care,” says Rita Fridella, Senior Vice-President, Operations and Chief Clinician, Morneau Shepell. “This integrated approach means we can guide employees to the professionals and full continuum of care that they need.”
Online Financial Planning Service is available to EAP members and their families by calling the Care Access Centre or via Online Access at workhealthlife.com.
Morneau Shepell Ltd.
Morneau Shepell is the largest Canadian-based firm offering industry-leading benefits and pension consulting, outsourcing, as well as health and productivity solutions. The company works with clients to develop end-to-end insights and solutions that integrate with their business strategies to achieve results. Through Benefits and Health Solutions Consulting, Pension Consulting, Health Management, Administration Solutions and Shepell•fgi’s Employee Assistance Program, Morneau Shepell helps clients reduce costs, increase employee productivity, and improve their competitive positions by supporting their employees’ financial security, health and well-being.
Established in 1966, Morneau Shepell serves over 8,000 clients, ranging from small businesses to some of the largest corporations and associations in North America . With approximately 2,500 employees in offices across North America , we provide services to organizations across Canada , in the United States and around the globe.
Morneau Shepell Inc. is a publicly traded company on the Toronto Stock Exchange (TSX). For more information, visit http://www.morneaushepell.com/.
http://tourism9.com/    http://vkins.com/

GE ordered to defend lawsuit tied to 2008 crisis

(Reuters) – A federal judge refused on Thursday to throw out a lawsuit accusing General Electric Co and its chief executive of misleading investors about the conglomerate’s financial health and exposure to risky debt during the 2008 financial crisis.
The decision by District Judge Richard Holwell in Manhattan keeps alive litigation seeking to hold the company responsible for investor losses during a six-month period when its stock price fell to about $10 from about $26, causing its market value to tumble by more than $150 billion.
Investors claimed that GE withheld information regarding its health and the health of its GE Capital finance arm, including exposures to subprime and other low-quality loans. They also said GE misleadingly touted itself as being safer than rivals, despite the effects of the financial crisis.
Holwell also let stand some claims accusing bank underwriters of omitting statements from offering documents for a $12.2 billion GE stock offering in October 2008. He dismissed several other claims, and did not rule on the case’s merits.
A GE spokesman and lawyers for the investors did not immediately respond to requests for comment. Antonio Yanez, a lawyer for the banks, declined to comment.
Holwell said investors led by the State Universities Retirement System of Illinois adequately alleged that GE made material misrepresentations during the crisis about its access to commercial paper and ability to maintain its dividend.
He also let the investors pursue claims alleging that company officers, including Chief Executive Jeffrey Immelt and Chief Financial Officer Keith Sherin, misled them and had sufficient intent, known as “scienter,” to mislead.
CATEGORICAL STATEMENTS
“Immelt’s categorical statements that investors could ‘count on’ a dividend and that GE was having ‘no difficulties’ issuing commercial paper are not the sort of cautious statements one would expect of a CEO attempting to come to grips with the effects of the economic crisis on his company,” Holwell wrote in a 53-page decision.
“A CEO is allowed to convince the public to invest in his company, but not at the expense of providing it with accurate information about the company’s financial health,” Holwell continued. “Taking the factual allegations in the (complaint) as true, the inference that Immelt acted with scienter is at least as compelling as the inference that he did not.”
Among the banks that were sued were Bank of America Corp, Citigroup Inc, Deutsche Bank AG Goldman Sachs Group Inc, JPMorgan Chase & Co, and Morgan Stanley, court records show.
The lawsuit covered investors who owned GE stock from September 25, 2008 to March 19, 2009.
During that period the Fairfield, Connecticut-based company cut its dividend and lost its “triple-A” credit rating. It also received a $3 billion infusion from Warren Buffett’s Berkshire Hathaway Inc.
GE’s many products include jet engines, turbines and light bulbs. It also owns part of NBC Universal, in which Comcast Corp holds a majority stake.
The case is In re: General Electric Co Securities Litigation, U.S. District Court, Southern District of New York, No. 09-01951.
(Reporting by Jonathan Stempel in New York; editing by Andre Grenon, Phil Berlowitz)

Financing College Costs in 2012: Smart Tips

Most likely, your 529 plan and equity in your home are still down, but tuition keeps rising. Still, there’s money out there for students who need help with college financing. Here are 12 tips to help you attend school for less in 2012.
Go to college despite the job market
The year 2011 provided several arguments to skip college — high unemployment rates, tuition hikes and a harsh job market for grads. Go anyway.
“The jobs that are growing, the industries that are growing and the markets that are going to be available to students are those that require higher education,” says Brittania Morey, spokeswoman for the Iowa College Access Network. “Students who are choosing to go to college are preparing themselves for the work world of tomorrow.”
According to a 2010 report by Georgetown University, 63% of jobs offered by 2018 will require postsecondary education. Morey says students can cut college costs by searching for scholarships early and investigating awards in their community.
Don’t eliminate yourself
The biggest mistake students make is believing they’re not eligible for college aid. A 2009 study by Finaid.org showed that 2.3 million students who would have been eligible for the federal Pell Grant missed free college cash because they didn’t apply.
While students attending pricey institutions frequently apply for aid, the likelihood is lower at cheaper schools and community colleges, says Diana Fuentes-Michel, executive director of the California Student Aid Commission.
“That’s where folks tend to believe that they wouldn’t qualify for financial aid because of the low cost,” she says.
The U.S. Department of Education reports that all students, regardless of income or financial assets, are eligible for up to $27,000 in federal Stafford Loans over four years.
File for FAFSA fast
The Free Application for Federal Student Aid, or FAFSA, qualifies students for federal grants, loans and work-study jobs as well as some private and state-sponsored awards. Filing it as close to Jan. 1 as possible maximizes your college aid eligibility, says Lynda Forster, CEO of the financial aid consulting group Collegiate Capital Corp. in Mineola, N.Y.
“Most (families) think that financial aid forms must be completed after the tax returns are done, and that is not accurate,” she says. “You cannot wait until April. All of the money is already awarded.”
Since federal grants are distributed on a first-come, first-served basis, Forster recommends that families file the form using estimates of their income and assets. If they need to change something, families can file corrections at FAFSA.ed.gov.
Choose your major carefully
From private loan-forgiveness programs to state and federal grants, there’s money available to students majoring in high-demand fields. While the federal government offers up to $4,000 per year to future educators through the Teacher Education Assistance for College and Higher Education, or TEACH, Grant Program, individual states offer similar college financing initiatives for up-and-coming teachers, nurses, fire and emergency medical technicians, public defenders, child care employees, health care workers and those pursuing jobs in other fields.
Students who know their major can check with their school’s financial aid office to see if there are awards available in their fields. Professional organizations and nonprofits, such as the National Restaurant Association and the National Environmental Health Association, also offer awards to students in specific fields of study.
Find a ‘safety’ school
Guidance counselors recommend that students apply to an academically safe school. Martha Savery, director of community outreach for the Massachusetts Educational Financing Authority, recommends that students apply to a financially safe school, too.
“We always tell families (not to) self-select based on the cost that you see in the admissions material because many colleges and universities are able to provide a substantive financial aid package,” Savery says.
As of Oct. 29, all institutions that receive federal funding are required to post a net price calculator on their website that can help families estimate college costs with aid factored in, according to the National Center for Education Statistics. Students also can compare net prices of different schools by income level on the NCES website.
Meet the deadlines
With more students vying for aid, there’s stiff competition for dollars. Don’t eliminate yourself by missing a deadline, Savery says.
“If your child was applying for admission to XYZ university, you would not contact that admissions office and say ‘You know, I’d like just three or four more days just to tweak my essay,’” she says. “(Families) need to look at the deadlines from a financial aid perspective in exactly the same way.”
Ask the boss
A 2010 study by Business and Legal Resources, a compliance consulting firm in Old Saybrook, Conn., showed that nearly 85% of U.S. companies offer tuition reimbursement to employees. That’s up from 52% in 2007.
There are some pretty big catches. More than 75% of employers require that course work be job-related to qualify for reimbursement. Companies also may restrict how much reimbursement employees can get, require a certain grade point average or limit reimbursement to employees at a certain job level. More than 60% of companies offering reimbursement require employees to stay with the organization after completing study.
Go federal first
Federal loans are still the cheapest student loans. Through June 30, subsidized Stafford Loans will carry a 3.4% fixed interest rate. All Stafford Loans — subsidized, unsubsidized and grad loans included — disbursed after June 30 have a 6.8% fixed interest rate, according to the Department of Education. Stafford Loans are capped at $27,000 over four years for dependent students, but Morey says that federal loans to parents can help.
Through the Parent PLUS Loan, families can borrow up to the cost of attendance minus financial aid the student has received, and they’ll only pay 7.9% in interest — a rate that’s far below those of many private loans, according to DOE.
Cap those loans
Federal student loans also can be capped at 15% of a student’s “discretionary income.” That’s defined as earnings above 150% of the poverty line. For 2011, discretionary income would include earnings above $16,335 for a family of one, according to the Department of Health and Human Services. Earn less than $16,335, and the federal government won’t charge you anything for your student loan as long as your income stays below that threshold.
A double bonus is that students who make consecutive loan payments for 25 years will have their debt forgiven, according to the Oakland, Calif.-based Project on Student Debt. The time frame is reduced to 10 years for students who work in public-service professions such as teaching or social work after graduation.
Despite the tremendous potential savings, research shows that few students take advantage of the program. A White House fact sheet from October says that only about 1.3% of students with federal loans opt for income-based repayment.
Fight the hikes
Thanks to state budget cuts, tuition and fees at the average two- and four-year public institutions rose by about 7% this year, according to the College Board in New York. But in states such as Florida and California, prices at undergraduate state universities rose by 15% or more.
“The immediate kind of response to (tuition hikes) is to put it on a credit card or to look to their parents to try to get them to take a loan out,” says Fuentes-Michel.
The problem is that parents frequently can’t take on additional debt, and credit card interest rates are substantially higher than those of federal student loans. Instead of falling in the plastic trap, Fuentes-Michel recommends that students look to federal loans, private scholarships and part-time employment for college financing.
Save the right way
One of the strangest loopholes of financial aid is that how you save can impact your aid just as much as how much you save.
“Money put into a student’s name is not the place where you want to park it,” says Forster. “A student’s assets and income (are) counted much higher than a parent’s.”
While assets saved in a parent’s name can subtract up to 6 cents for every dollar from your federal need-based scholarships and grants package, every dollar of student assets takes away 20 cents, according to the White House’s National Economic Council. Money saved in a grandparent’s or relative’s name won’t count at all. However, 529 plans are one exception. Funds stored in a 529 plan in the student’s name count as parental assets, according to FinAid.org, the college financing resources website.
Reconsider 529 college savings plans
Many 529 plans lost value when the market dipped in 2008, but they’re coming back — this time with more conservative investment options. In the past two years, states including Nebraska and Indiana have added financial options insured by the Federal Deposit Insurance Corp. that allow parents to access 529 tax incentives without taking any market risks.
On top of providing federal tax-free growth, certain states also provide state tax incentives and matching grants to encourage account holders to save.
Copyright 2012, Bankrate Inc.


http://tourism9.com/