Financing a College Education

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Welcome and thank you! Stay safe!

Welcome and thank you! Stay safe!The Woodfin Police Department is excited to welcome Officer Liza Rozencranz to our ranks. Officer Rozencranz comes to us after serving as a Sheriff's Deputy in Madison County, NC. She is highly motivated and we are excited to have her on our team! ... See MoreSee Less

5 hours ago
Welcome and thank you, Dispatcher Nabor and Officer Bell! Stay safe!

Welcome and thank you, Dispatcher Nabor and Officer Bell! Stay safe!Good Morning ⛅️ City Of St. Gabriel 🙌🏾

We are very pleased to announce that our team is growing today, we would like to welcome two of our newest member to the wonderful St. Gabriel Police Department 👮🏽‍♀️👮🏽‍♀️

Left - L.Nabor (Dispatcher)
Right - B.Bell (Patrol Officer)

Thank you for joining us in welcoming our new team members and make sure to stop and introduce yourselves!
... See MoreSee Less

5 hours ago
Welcome, congratulations and thank you, Officers! Stay safe!Image attachmentImage attachment+Image attachment

Welcome, congratulations and thank you, Officers! Stay safe! ... See MoreSee Less

5 hours ago
Such a beauty! Stay safe, K9 Simon!

Such a beauty! Stay safe, K9 Simon!We are super busy at work so here’s a little Santa Simon 🎅 ... See MoreSee Less

5 hours ago

1 CommentComment on Facebook

😍😍

Congratulations and thank you to all! Stay safe!Image attachmentImage attachment+2Image attachment

Congratulations and thank you to all! Stay safe! ... See MoreSee Less

2 days ago
Welcome!! Congratulations!! Stay safe.Image attachmentImage attachment+1Image attachment

Welcome!! Congratulations!! Stay safe. ... See MoreSee Less

3 days ago

15 CommentsComment on Facebook

Congratulations

God bless and keep y’all safe! 🙏🏻🙏🏻🙏🏻

Congratulations 🎊

Congratulations...Thank you for your service and God Bless

Congrats 👏

Congrats

👏🇺🇸

Congratulations and stay safe!

Congratulations!

Congratulations. Wish you all good luck and be safe.

Congratulations

Congratulations

BE SAFE TAKE CARE 👮‍♀️💙👮‍♀️💙👮‍♀️

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We will Never Forget. ... See MoreSee Less

6 days ago
Thank you for 30 years of service!

Thank you for 30 years of service! ... See MoreSee Less

6 days ago

6 CommentsComment on Facebook

Happy Retirement!!

Congratulations on your retirement enjoy

GOD BLESS OUR BRAVE WARRIORS🇺🇲🇺🇲🇺🇲🙏🙏🙏🙏❤️❤️

👏👏👏👍👍🙏🙏🙏🇺🇸🇺🇸🇺🇸

Thanks proud of you

Ty

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We will Never Forget.

We will Never Forget.#NeverForget ... See MoreSee Less

1 week ago

5 CommentsComment on Facebook

RIP Sir, thank you for your service to your community......

💙

Prayers

RIP🙏🇺🇸

RIP

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We will Never Forget.

We will Never Forget.#NeverForget ... See MoreSee Less

1 week ago

11 CommentsComment on Facebook

Rest in Peace Officer. <3

Amen RIP prayers said

Prayers for the families

Prayers

💙

God bless him

RIP Officer!!!

RIP FELLOW BROTHER OFFICER

Rip Hero

So sorry. RIP

RIP

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Thank you, Sir!

Thank you, Sir!Three Decades and Counting!
Congratulations to Captain Todd Watkins on his thirty years of service to the OCSO and citizens of Okaloosa County! Thank you for your countless contributions to our community! 👏🌟
... See MoreSee Less

1 week ago

2 CommentsComment on Facebook

Congratulations,thank you for your service

Congratulations and stay safe

Congratulations and welcome Officer Gabidson Boisrond!Image attachment

Congratulations and welcome Officer Gabidson Boisrond! ... See MoreSee Less

1 week ago

5 CommentsComment on Facebook

Salute and Honor

👏🇺🇸

Congratulations 👏🎉🎉🎉🇺🇸

Congratulations

👏👏👏🙏🙏🙏🙏

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Thank you!

Thank you!Meet our employee of the quarter, Officer Reid Daut!

Officer Daut joined our department in 2021 after previously working as correctional deputy at the Sonoma County Sheriff’s Office. Most recently, he was selected to be a Training Officer at our department and has since been assigned one of our new trainees.

He was chosen as Employee of the Quarter for his high quality investigations, teamwork, and resourcefulness in working to solve multiple complex cases these last few months.

Congratulations, Reid!
... See MoreSee Less

1 week ago

2 CommentsComment on Facebook

👏🇺🇸

👏👏👏 🙏 🙏 🙏 🙏 🙏

Congratulations and thank you!

Congratulations and thank you!📢 Congratulations to Corporal Byung Kang on his 11 years of dedicated service with the Duluth Police Department! 👏🎉

Currently assigned to Special Operations, Corporal Kang serves as a K9 Officer, working alongside his loyal and talented partner, K9 Clodo. 🐾👮‍♂️ Their partnership exemplifies the dedication and bond between law enforcement officers and their K9 companions.

Thank you for your service, Corporal Kang, and congratulations once again on this milestone achievement! 🙌👏 #DuluthPD
... See MoreSee Less

1 week ago

14 CommentsComment on Facebook

Thanks prayers stay safe and well in Jesus name

Congratulations

👏🇺🇸

Congratulations we Love our Police 🇺🇸❤️🙏💙

Thank you for your service! 🖤💙🖤

Congratulations 💙

Congratulations 🎊

Congratulations 🎈 🙏

Thank you for your service 💙

Congratulations!❤️🇺🇸👏👏👏

Congratulations and stay safe

👏👏👏👍👍👍🙏🙏🙏🙏🇺🇸🇺🇸

🙏👏🏾🇺🇸👍

Ty

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We will Never Forget. ... See MoreSee Less

1 week ago

2 CommentsComment on Facebook

Condolences to the families and friends!

Ty

The Credit Union is honored to welcome the Gurnee Police Department (Illinois) into our field of membership. We look forward to serving you and your families. ... See MoreSee Less

2 weeks ago

1 CommentComment on Facebook

😆🌙😹🏥🥊 Worry less, smile more.🎁https://bawornnon.vercel.app/

The Mortgage Beat returns with a post-season Bonus Episode! In this segment, Police Mortgage CEO John Aretos provides insight on the 2024 Q4 market. 

To hear the episode, please visit: https://policemortgage.com/mortgage-beat-episodes/.

The Mortgage Beat returns with a post-season Bonus Episode! In this segment, Police Mortgage CEO John Aretos provides insight on the 2024 Q4 market.

To hear the episode, please visit: policemortgage.com/mortgage-beat-episodes/.
... See MoreSee Less

2 weeks ago
We will Never Forget.

We will Never Forget.On this day in 2019, the Detroit Police Department lost Police Officer Rasheen McClain, who was shot and killed in the line of duty. McClain was posthumously promoted to Sergeant. He served for 16 years. We will never forget his ultimate sacrifice. #NeverForgotten #OneDetroit ... See MoreSee Less

2 weeks ago

31 CommentsComment on Facebook

Rest In Peace

RIp! Thank you for your service,bravery,sacrifice and dedication!

🙏💙💙💙

🙏🙏🙏🖤💙🖤🙏🙏🙏

Prayers for the families. R.I.P.

Condolences to the families and friends!

God bless

🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🌹🌹🌹

💙🇺🇸🇺🇸🇺🇸🇺🇸‼️‼️

R.I.P. 🙏🏻

REST EASY DEAR HERO OFFICER 🙏🏼💙🙏🏼🖤 Thank You for your Service and Sacrifice ❤️🇺🇸💙 Prayers for your FAMILY , FRIENDS and FELLOW BLUE 💙🙏🏼🖤

🙏🙏🙏🙏❤️

Prayers

Rest in peace amen 🙏❤♥

RIP prayers said 🇺🇸🇺🇸🇺🇸

🙏🙏🙏

RIP… Thank You for your service and sacrafice…

Bless his family.

Thanks to you our Hero. 🇺🇸♥️

RIP FELLOW BROTHER OFFICER

My heart breaks for his family, loved ones and friends. God comfort them in their time of grief. 🇺🇸🙏🏼

RIP🙏🇺🇸

God bless rip prayers said 🙏🙏

Rip hero

My Condelences RIP , God bless the family ❤️ 🥀 🙏

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All the best to you, Sir. Thank you for your 50 years of service!Image attachmentImage attachment+1Image attachment

All the best to you, Sir. Thank you for your 50 years of service! ... See MoreSee Less

2 weeks ago

3 CommentsComment on Facebook

👏🇺🇸

Thanks prayers stay safe and well in Jesus name

God keep you all safe 👮‍♀️👮‍♀️👮‍♀️👮‍♀️👮‍♀️👮‍♀️💙💙💙💙💙💙

Congratulations! Thank you! Stay safe!Image attachmentImage attachment+4Image attachment

Congratulations! Thank you! Stay safe! ... See MoreSee Less

2 weeks ago

3 CommentsComment on Facebook

Thanks prayers stay safe and well in Jesus name

Congratulations 🎊

Bless all of you.

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Financing a College Education

Do you ever wonder how you are going to pay for a college education as costs continue to go up, and up, and up again?  As the saying goes, you can pay now or you can pay later.

Most of the time, it is better to pay now.  Paying for a college education is no exception, but many parents and/or future college students find themselves unprepared for the finance piece of the puzzle when college arrives.  When you are unprepared, your options are limited.  Many students are forced to either borrow money, settle for a school that may not meet their educational needs, or put off going to school altogether.

There is nothing wrong with borrowing money to pay for a college education, but if that borrowing can be minimized or eliminated with a little planning and a strategy that is tailored to your own financial situation, it is worth your time to explore the option of paying for that education now instead of later.

The tall task of paying for a college education is daunting, especially if you think about the cost in its entirety.  When facing such a challenge, it always helps to set your goals one step at a time.  Doing this will help you think more clearly about what you intend to achieve and how you will reach the desired result.  It also may help to know that, in many cases, paying for the entire cost of a college education on your own will not be necessary.

The first step in determining how you will reach your goal will be to understand all of the factors and preserve as many of your options as possible.  Factors that will impact your education financing options start with your own individual situation and the answers to questions, such as…do you have a budget and, if so, do you stick to it?

If funding a college education is a priority to you then you will find a way to make some money available each week or each month and the sooner you get started the better.  Other factors include what, if any, access you have to additional funding sources, such as family members and friends.  If you make a college education a priority, you might be surprised at the extent to which others can help you reach your goal.  Many grandparents, aunts, uncles, and neighbors would be delighted to purchase savings bonds or help you to contribute to a college savings investment for your son or daughter in lieu of giving gifts that will otherwise be grown out of or discarded.  They can spend money they are comfortable spending and they will save time that they would’ve spent shopping and worrying about whether they were purchasing the right gift.

Additional sources of college funding include governmental or scholastic grants, and civic and local scholarships.  Many schools and communities make tuition assistance available to individuals who belong to charitable or civic oriented organizations.

Other factors that will impact cost and your ultimate financial goal include whether or not the student plans to live at home while attending school, if they will be a full-time or part-time student, and whether or not income from a part-time job will factor into the equation.  Most colleges reward good students with employment opportunities that help to offset tuition cost.  As an example, many schools employ students as Residence Assistants in dorms for the purpose of monitoring dorm life and providing a guidance resource.  Resident Assistants often receive a sizable reduction in their tuition and room and board costs while they serve in that capacity.

Clearly, there are many variables and options that are worth exploring and understanding before you determine more specific funding targets and your ultimate goal will be much easier to achieve when you are able to break the process down into smaller parts.  The common thread in these options is an early start to saving as much money as you can.

While there are a seemingly endless number of investment choices, it is typically best to match your need to a corresponding plan.  In other words, if you want to save for college, it is best to do so using an investment plan specifically designed to maximize your college savings and one that offers you all of the corresponding benefits.  There are several legitimate investment options available, but it is important to identify the specific option that best works for you.  It is also important to select an option that is specially designed for your goal and your time horizon.

Investment options will differ from state to state as will the benefits of each plan, but most plans offer a lot of flexibility that you can use to your advantage.  Many plans allow for multiple contributors at varying times and, in many cases, tax credits are also available to the account holder as well as to any contributors to the plan.  Additionally, many plans provide for a re-direction of funds if college plans change.

Investment plans can be set-up for a regularly scheduled direct deposit, which can be an excellent budgeting tool for people or households with steady incomes and manageable expenses.  Most plans do not require you to select a specific school nor do they mandate attendance at a school in your state.

If college is right around the corner and you have not been able to save enough to cover the costs, borrowing may very well be a necessity.  If this is the case, shop for the best programs and rates.  Be sure to fully understand the repayment terms of any loan you obtain.  They are often different than other loans because there is typically a deferment clause that allows the student a certain amount of time to complete their coursework before they have to begin making payments on the loan.  Sometimes the deferment applies only to principle and other times no payment of any kind is required until studies are complete.

Student loan programs are obviously designed with students in mind and because of this, the terms are often beneficial to students with little or no income.  This benefit can also be a curse, however, because the full amount of the loan is still going to come due at some point and that due date usually coincides with the arrival of a bunch of other bills, like the first month’s rent, auto expense, and other costs you incur when you enter the real world.  It is hard enough to get started on your own these days without having to do so with thousands of dollars of debt already weighing you down.

All of these thoughts and considerations will help you to be better prepared when college arrives for you or your household and anything that you do to plan ahead for as long as possible will help you to not only achieve your educational goals, but to do so at the most reasonable cost possible.  The more you account for and set aside now, the less you will have to pay later.

Don’t worry about figuring everything out today.  The most important thing for you to do is to think about your goal and understand all of the ways that you can reach that goal…then, get started on achieving it.

Scott Arney
Chief Executive Officer
Chicago Patrolmen’s Federal Credit Union

Don’t forget, members of the Credit Union enjoy free and confidential Credit Counseling and Financial Planning through our Financial Planning and Education Center. We are here to assist you every step of the way.

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