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Parents can use the BLOC to pay all college expenses such as tuition, room and board, books, class fees, computer and all other related expenses minus the financial aid the student receives. You simply borrow money from the BLOC as needed (up to your credit line balance).
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how much money will be needed for the academic year. Use this budgeting worksheet to estimate available aid and costs:
download college budgeting worksheet
to manage monthly spend. Pre-paid's set limits on the amount spent each month. You can use the BLOC to load up monthly amounts based on the college budget:
view how pre-paid cards can work
to pay educational expenses. Parent uses money management techniques to pay down the borrowed amount
jump to slide show to view how program works
- your BLOC functions like a bank when you need funds
- no additional debt to assume
- borrow money only as needed
your BLOC account may look like this if you had the following spending plan:
- net monthly income: $5,000
- monthly living expenses: $4,000
- monthly discretionary income: $1,000
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| Year 1 |
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| Opening Credit Line Balance |
$0 |
| Paid College Startup Costs |
- $7,500 |
| Paid Computer for Use |
-$1,500 |
| Paid for Supplies and Books |
-$1,100 |
| Paid for Travel To and From |
-$1,250 |
| Paid for Monthly Spends |
-$1,300 |
| Pay Living Expenses |
- $48,000 |
| Balance Owned |
- $60,650 |
| Deposit Income Payments |
+ $60,000 |
| Ending Balance Owned |
- $650 |
- college startup costs include tuition, room and board, lab fees, and other annual costs minus financial aid awards given to the student
- monthly spends were budgeted money for student use
- living expenses include mortgage payment, food, family care and other living expenses
- your starting balance was $0
- you borrowed $60,650 from the BLOC
- you made payments of $60,000 into the BLOC
- your ending balance was $650
- you never made a schedule payment to the BLOC:
your income represented your monthly payment
- you will only pay interest on the average daily balance
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