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Hogan sets up scholarship fund to offset community college tuition

  • Published in State

Maryland SealA recently-passed Maryland law will make attending community college more affordable for state residents.

Last week, Gov. Larry Hogan (R) signed a bill that will help cover the cost of tuition for some state residents attending community colleges. The bill allocates $15 million in state funding to provide scholarships up to $5,000 for students whose family earn less than $150,000 a year or for adults with an income of $100,000 a year or less.

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Your Finances: Paying for a college education can be intimidating for many parents

 

Roll of Cash

We have all read about the escalating costs of higher education. According to CollegeBoard, tuition and fees to attend a public university increased by 13 percent over the past five years. The idea of paying for college can be quite intimidating.

At about the time that kids are old enough for college, parents begin thinking about their own plans for the future. Unfortunately, the timing can present some challenges as parents try to figure out how to balance these financial priorities.

In a recent installment of “Your Future, Your Finances,” I had the opportunity to sit down with Judith Ward, senior financial planner at investment firm T. Rowe Price, to get her perspective on balancing retirement and college planning. Ms. Ward has over 32 years of experience helping individuals make sound financial decisions.

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