Financing a College Education

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Jim Bedinger and Vivian Abraham attended the FOP Great Lakes Coalition meeting held in Indianapolis, IN, on October 3- 4, 2024.

Jim Bedinger and Vivian Abraham attended the FOP Great Lakes Coalition meeting held in Indianapolis, IN, on October 3- 4, 2024. ... See MoreSee Less

5 days ago
Today is National Thank a Police Officer Day! Wed like to take a moment to express our gratitude to the brave men and women who protect and serve. Thank you for your dedication and commitment to keeping us safe. #NationalThankAPoliceOfficerDay

Today is National Thank a Police Officer Day! We'd like to take a moment to express our gratitude to the brave men and women who protect and serve. Thank you for your dedication and commitment to keeping us s#nationalthankapoliceofficerdayerDay ... See MoreSee Less

3 weeks ago
Thank you for 30 years of service!! And counting …
Stay safe!

Thank you for 30 years of service!! And counting …
Stay safe!30 years and counting!

Denise Sledge has been a valuable part of the OCSO Communications team for three decades! Thank you for your dedicated service and for answering the call for so many years! We appreciate you!🌟👏
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1 month ago
Great work Officer Harris and K-9 Rocky! Thank you! Stay safe.

Great work Officer Harris and K-9 Rocky! Thank you! Stay safe.Great work Officer Harris & K9 Rocky and congratulations on being the District 5 Officer of the Month!!!
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Congratulations to Officer J. Harris and K9 Rocky of District 5, C Squad, who are being recognized as this month’s Officer of the Month.

Officer Harris recently completed a four-week K9 Handler course with his new partner, K9 Rocky. While attending K9 Handler school, Officer J. Harris and K9 Rocky conducted rigorous training to master working as a K9 Team. The curriculum is designed to equip handlers with the expertise needed for effective law enforcement. The curriculum focuses on narcotics detection, tracking, and evidence locating. Officer J. Harris and K9 Rocky have quickly become a unified team. Their combined efforts have led to the successful locating and apprehending of three suspects wanted in connection with felony incidents. Officer J. Harris and K9 Rocky have recovered not only two discarded firearms from fleeing suspects but also other discarded evidence pertinent to the crimes currently being investigated. Their work, including assisting with K9 callouts and routinely responding to 9-1-1 calls, has significantly contributed to maintaining public safety.

Thanks to Officer Harris and K9 Rocky for your hard work and dedication to protecting the Durham community. Excellent work!
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1 month ago
Great picture! Thank you, Deputy King and K9 Vito! Stay safe.

Great picture! Thank you, Deputy King and K9 Vito! Stay safe.Don’t mind us as we carry around "ruffly" 90 lbs. of K9 love.
Happy National Dog Day from Deputy King and K9 Vito!
#nationaldaydog🐾

📷 Nevada County Sheriff's Office
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1 month ago
We will Never Forget.

We will Never Forget.The Chicago Police Department offers our condolences to the family, friends, and coworkers of Police Officer Austin Machitar of the San Diego Police Department who sadly lost his life in the line of duty on August 26, 2024. Officer Machitar's partner was also injured in the crash and is currently listed in critical condition. Our thoughts are with the officers and their families. ... See MoreSee Less

1 month ago
Thank you, K-9 Haywire! Enjoy your well-deserved retirement with your handler, and stay safe!Image attachment

Thank you, K-9 Haywire! Enjoy your well-deserved retirement with your handler, and stay safe! ... See MoreSee Less

1 month ago
Great job! Thank you! Stay safe.

Great job! Thank you! Stay safe.Earlier today, when a kitten in Staten Island fell through the grates of a storm drain, concerned residents reached out to your NYPD cops. NYPD Special Operations ESU officers responded, and with help from NYC Department of Environmental Protection, they successfully brought the cat back to safety so it could dry up in today’s warm sun. ... See MoreSee Less

1 month ago
Welcome, K9 Raider and K9 Titan! Stay safe!

Welcome, K9 Raider and K9 Titan! Stay safe!Join us in welcoming K9 Raider and K9 Titan! 🐕

“The Gwinnett County Police Department is proud to introduce two new K9's into service. After completing their training in North Carolina, Raider and Titan will both begin work in the county. Titan will work with Cpl. Bartkowiak and Raider will work with Officer Copley. Both dogs are 2-year-old Belgian Malinois.”
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1 month ago
Congratulations! Thank you! Stay safe.Image attachmentImage attachment+1Image attachment

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

1 month ago
Hello, K9 Diesel and Officer Ryan Coll! Thank you! Stay safe.

Hello, K9 Diesel and Officer Ryan Coll! Thank you! Stay safe.Meet K9 Diesel and Officer Ryan Coll of the Metropolitan Nashville Police Department . Diesel is a half Belgian Malinois and German Shepherd and will be 4 on his next birthday. When he’s not working, Diesel LOVES spending time relaxing with his human siblings and mama at home. Photo by Erik Larson. ... See MoreSee Less

1 month ago
Congratulations and thank you! Stay safe!

Congratulations and thank you! Stay safe!Congratulations to Officer Dalton Koch!

We are proud to announce that Officer Dalton Koch has been selected as the O'Fallon Police Department's Officer of the Month for July. This recognition is a testament to his dedication, hard work, and commitment to serving our community. Please join us in congratulating Officer Koch on this well-deserved honor! 👏👮‍♂️
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1 month ago
Congratulations and thank you! Stay safe.Image attachment

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

1 month ago
Welcome!! Thank you! Stay safe.

Welcome!! Thank you! Stay safe.We welcomed a new recruit class at the Lexington Police Department Training Academy this week! For the next 30+ weeks, the recruits will cover topics that will help them Set the Standard.

Please join us in welcoming Recruit Class 08-2024 and thank them for choosing to serve our community!
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1 month ago
Great job, K9 Milo!!!! Thank you!

Great job, K9 Milo!!!! Thank you!Good Boy K-9 Milo 💙👏
#thankyouforyourservice

"K9 Milo of the Colorado Springs Police K-9 Unit was off duty this past Friday but that didn't stop him, or his Handler, from assisting with the capture of a fugitive.

Thank you Milo for doing such a great job which meant that everyone went home safe!"

📷 Running 4 Heroes- K9s
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#heroes #policedog #k9 #k9officer #workingdog #malinois
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1 month ago
Thank you, Officer Horvath, for your many years of service!!!!
Stay safe!

Thank you, Officer Horvath, for your many years of service!!!!
Stay safe!Congratulations to Officer Jason Horvath on celebrating 20 years of dedicated service with the Wentzville Police Department!

With 26 years in law enforcement, Officer Horvath has been an integral part of our team. From his work as a K9 Officer, Detective and service in the Cyber Crime Unit and now serving as a School Resource Officer for over 11 years, his commitment to our community is unmatched. As the lead advisor for the WPD Explorer Program, he's made a significant impact on the youth in our community. He's also been recognized multiple times, earning Employee of the Quarter twice and receiving the Optimist Club Award for his outstanding contributions to youth in the community.

Thank you, Officer Horvath, for your dedication and service! We are proud to have you on our team.
#WentzvillePD
#WPDServiceAwards
... See MoreSee Less

1 month ago
#HEROES!!!!
Thank you! 💙💙💙💙

#heroes!!!!
Thank you! 💙💙💙💙🐶𝗚𝗢𝗢𝗗 𝗡𝗘𝗪𝗦 𝗦𝗨𝗡𝗗𝗔𝗬🐶

Detectives from the Special Victims Section recently discovered six abandoned puppies on the side of the road. Covered in dirt and riddled with fleas, the puppies were quickly rescued!
Thanks to the swift action of our detectives and colleagues in the Criminal Investigations Division, the puppies have found loving homes. We’re proud of our team’s dedication and compassion!
... See MoreSee Less

1 month ago
Thank you! Stay safe!

Thank you! Stay safe!👏👏👏👏
Congratulations to Officer Michael Grund on achieving his one-stripe milestone, signifying 5 years of law enforcement service.

Officer Grund joined the Wausau Police Department in 2019 after graduating from the criminal justice academy at Northcentral Technical College in Wausau. Aside from his time with patrol, Officer Grund served as one of our Field Training Officers and is now a member of our Community Resource Unit, tasked with addressing neighborhood issues in our city. Thank you Officer Grund for choosing to serve our community and being a big part of our success as an organization!

*Background of Service Stripes: For every 5 years of law enforcement service, we present our staff with a gold service stripe to be worn on their long-sleeve uniform. Service stripes are small, but each stripe is significant and symbolizes a tremendous amount of positive impacts each officer has made in our community
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1 month ago
Congratulations! Thank you! Stay safe!Image attachmentImage attachment+1Image attachment

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

1 month ago
Congratulations! Thank you! Stay safe!

Congratulations! Thank you! Stay safe!CONGRATULATIONS to Officer Nicholet Gonzalez and Officer Madeleine King who graduated from Sauk Valley Police Academy BLE-5. ... See MoreSee Less

1 month ago

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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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