How are teacher pension benefits funded? Under traditional plans, the full cost of career teachers' benefits far exceeds the contributions designated for them. The gap between the two has three pieces, which may (with some license) be mnemonically tagged the three R's of pension funding: "redistribution," "return," and…

Education Savings Accounts (ESAs), launched in Arizona in 2011, allow public funds to cover a wide range of educational expenses beyond private school tuition. Originally for students with disabilities, ESAs have expanded--most notably in Arizona and West Virginia in 2022--to become universal vouchers. Now adopted by several states, ESAs promote…

Many successful non-financial managers aspire to contribute at the larger table of management decision making. To do so necessitates broadening their skills to include financial acumen. For non-financial managers, learning new financial constructs can be daunting, and knowing when to use which tool is challenging. We describe a…

This paper discusses the potential fiscal effects of education savings accounts for K-12 in New Jersey on the state and local taxpayers. Education savings accounts are a way to expand educational opportunity for all families, particularly those in need. For parents who voluntarily elect to customize their child's education, a specified amount is…

It is an easily observed reality that the typical college/university student is extremely comfortable with the use of technology and particularly with the use of the Internet. The authors contend that this fact almost requires that instructors of finance classes incorporate the use of web-based financial resources into their in-class presentations…

Families may choose to save for college or elementary and secondary education expenses using tax-advantaged qualified tuition programs (QTPs), also known as 529 plans. 529 plans, named for the section of the tax code which dictates their tax treatment, are tax-advantaged investment trusts used to pay for education expenses. The specific tax…

Since 1997, education tax benefits have become an increasingly important component of federal higher education policy. For the 2019 and 2020 tax years, 12 tax benefits are available for college students and their parents to help pay for higher education. In 2025, absent legislative action, this number will increase to 13: two provisions which are…

Free tax programs, such as Volunteer Income Tax Assistance (VITA), allow recipients of the earned income tax credit (EITC) to have their returns filed for free. VITA and other free tax programs are nationwide. However, each program is distinct, and the services provided by these programs differ. This article discusses a successful and unique…

American higher education rose to fame and fortune during the Cold War, when both student enrollments and funded research shot upward. Prior to World War II, the federal government showed little interest in universities and provided little support. The war spurred a large investment in defence-based scientific research in universities, and the…

With rising personal and public debt, public and private employers increasingly shifting financial responsibility to individuals, and an increase in both the number of financial investment options and predatory lending practices, today's students need to be financially literate. This paper defines financial literacy and justifies its place in the…

For years, people have been taught that maintaining liquidity of assets, particularly at retirement, is beneficial. One's liquidity, that is, monies he/she controls and has ready access to for discretionary withdrawals, translates into uncertainty to the company holding those assets because they can be withdrawn at any time. If one can increase a…

Each year countless taxpayers overpay simply because they're not taking full advantage of medical deductions. Individuals with disabilities are especially at risk. Time and energy spent running around to doctor visits, therapy sessions, and the like can leave little left to spend on preparing taxes. Fortunately, with a little effort year round and…

Service-learning projects are a cornerstone of student experiential learning. Such programs have proven to be mutually beneficial to communities and students within a variety of family and consumer sciences courses. However, there is a paucity of literature addressing service-learning efforts within the field of financial planning. There is an…

Nearly 400 colleges across the United States are about to be asked to disclose intimate financial details of their operations to the Internal Revenue Service. This article reports on a highly detailed financial questionnaire designed by the IRS for the first phase of its Colleges and Universities Compliance Project, which is part of a continuing…

This publication was created for middle-income parents of children under the age of 18 who have disabilities. It is a simple, straightforward resource to help them manage their money, and plan for them and their children's financial future and overall well-being. The financial management techniques presented here can help parents, not just in…