Just imagine – you sell annuity payments for a large lump sum of cash and soon after, make a move that’ll change your life forever (we know, dramatic right?). You go back to school, proving to the world that you are one. smart. cookie. With the cash earned by selling your annuity payments, you could indeed tie up your scholastic loose ends.
And why not? You’ve already moved up the ranks of your education, but due to life’s unpredictable circumstances, you’ve had to put your degree on hold. But if you have an annuity, you have the chance to grab your future by the horns and earn your college degree.
So if you’re receiving payments, sell your annuity for a huge lump sum and use the cash to enroll in school!
It’s easier than you might think. When you cash in annuity payments, you can pick up where you left off. After a few years, you’ll understand just how important cashing in your annuity was because you’ll have your degree in-hand!
Higher education can lead to:
• Higher paying jobs
• Promotions and other perks
• A boost in self-esteem
Cash in Annuity for a Good Academic Start
In the past, the super-high cost of a college education is what might have kept you back. But those days are over, my friend. Selling your annuity payments for a lump sum of cash will help you make a smooth transition to college life. Even if you go plan to go to school part time, there are costs considerations that’ll come up for sure. When you sell your annuity, understand that the lump sum of money you receive can address many of the headaches associated with paying for school. Having a lump sum of cash at your disposal will help you tackle financial obligations head-on!
If you’re not worried about bills, you’ll be sure to have a good academic start.
Here’s a list of things to look out for on the financial front:
Tuition: According to the College Board, the average cost of tuition and fees for the 2017–2018 school year was $34,740 at private colleges, $9,970 for state residents at public colleges, and $25,620 for out-of-state residents attending public universities.
Room & Board: The College Board reports that the average cost of room and board in 2017–2018 clocked in at 9,970 at four-year public schools.
Books: The College Board reports that books are typically $153 per course. Over the course of a year, the average college student may spend more than $1,200 on books and materials!
Food: The U.S. Federal Reserve reports that about 75% of college students use credit cards to pay for food; the average balance is $3,173.
Activities: College experiences, like joining a fraternity, can often come with a price tag. Activities can range from $200 to $2,000.
Travel + Miscellaneous: Varies
Costs at a Glance:
|What You Get||Average Cost Per Year|
|Tuition||$9,970 – $34,740|
|Room & Board||$10,800 – $12,210|
|Activities||$200 – $2,000|
|Travel + Miscellaneous||Varies|
The costs of going back to school are many and often, they vary depending on the school you choose. Selling your annuity payments will give you the cash you need so that college costs, like travel and miscellaneous events don’t become an issue.
In general, the costs of going back to school can be a heavy burden to carry—but thinking outside the box, especially if you have annuity payments to sell, may make your load that much lighter.