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It doesn’t take a degree in finance to see the cost of college continues to rise.
In its 2017 report, the College Board showed that public four-year institutions raised prices an average of 3.2% annually between the 2007-08 and 2017-18 school years. Put another way, a $5,000 education in 2007-08 would cost $6,851 in 2017-18.
For a few families, the lion’s share of education costs falls on parents and, in some cases, on grandparents. For our American Eagle Outfitters clients who are parents you may already know, generally, the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost.
For American Eagle Outfitters employees who have children approaching college age, a good first step is estimating the potential costs. The accompanying worksheet can help you get a better idea about the cost of a four-year college.
For American Eagle Outfitters employees who already put money away for college, the worksheet will take that amount into consideration. For American Eagle Outfitters employees who haven’t, it’s never too late to start.
Resources
There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites for these American Eagle Outfitters employees to consider reviewing:
www.studentaid.ed.gov
The government’s college and financial aid portal.
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www.collegeboard.org
The group that administers the SAT test.
Estimating the Cost of College
What type of retirement savings plan does American Eagle Outfitters offer to its employees?
American Eagle Outfitters offers a 401(k) retirement savings plan to help employees save for their future.
Is participation in the 401(k) plan at American Eagle Outfitters mandatory?
Participation in the 401(k) plan at American Eagle Outfitters is voluntary; employees can choose to enroll or opt out.
What are the eligibility requirements for the 401(k) plan at American Eagle Outfitters?
Employees of American Eagle Outfitters are typically eligible to participate in the 401(k) plan after completing a certain period of service, which is outlined in the employee handbook.
Does American Eagle Outfitters match employee contributions to the 401(k) plan?
Yes, American Eagle Outfitters offers a matching contribution to the 401(k) plan, subject to specific terms and conditions.
How can employees of American Eagle Outfitters enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan at American Eagle Outfitters by completing the necessary enrollment forms through the company’s HR portal.
What investment options are available in the American Eagle Outfitters 401(k) plan?
The American Eagle Outfitters 401(k) plan offers a variety of investment options, including mutual funds and other investment vehicles.
Can employees of American Eagle Outfitters change their contribution percentage to the 401(k) plan?
Yes, employees can change their contribution percentage to the 401(k) plan at any time, subject to the plan's guidelines.
What is the vesting schedule for the 401(k) match at American Eagle Outfitters?
The vesting schedule for the 401(k) match at American Eagle Outfitters typically follows a graded vesting schedule, which is detailed in the employee benefits documentation.
Are there any fees associated with the 401(k) plan at American Eagle Outfitters?
Yes, there may be administrative fees associated with the 401(k) plan at American Eagle Outfitters, which are disclosed in the plan documents.
Can employees take loans against their 401(k) balance at American Eagle Outfitters?
Yes, American Eagle Outfitters allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.
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