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10 Best Places to Retire on Social Security Alone

By U.S. News & World Report

The average monthly Social Security payment was $1,341 in January 2016. That’s enough income for a married couple each receiving this amount to cover basic expenses such as housing, food, transportation, health care and utilities in some parts of the country, according to a U.S. News analysis of Census Bureau and Bureau of Labor Statistics data. The analysis also factored in crime rates, access to health care and recreation opportunities. Consider these places where two Social Security checks are likely to pay for basic retirement costs.

Boise, Idaho

Idaho’s state capital has plenty of affordable housing, costing retirees with a paid-off home a median of just $351 per month. For that low housing cost, retirees have access to a variety of amenities and entertainment. Idaho residents age 60 or older can register for classes at Boise State University for the bargain rate of $5 per credit hour (plus a $20 registration fee per semester). Or you could relax and stroll through a museum or enjoy the outdoor scenery. Seniors also get discounts to the Boise Art Museum, Zoo Boise, Bogus Basin ski area and on many Boise State sporting events. Best of all, a stroll or bike ride on the 25-mile greenbelt along the Boise River, which runs through the center of the city, is free for everyone.

Homeowner costs with a mortgage: $1,016

Homeowner costs with a paid-off house: $351

Median rent: $781

[See: 10 Social Security Claiming Strategies That Work.]

Cape Coral, Florida

Waterfront property is a way of life in Cape Coral, which has over 400 miles of canals as well as access to the Gulf of Mexico and the Caloosahatchee River. You could easily spend your days boating, fishing or walking along the beach. But a house on or near the water won’t cost you a fortune. Median homeownership costs for people age 65 and older are $1,251 with a mortgage and $558 without one. The median rent is $983 per month. Many snowbird retirees reside in Cape Coral seasonally due to the pleasant winter weather. An added bonus: There’s no state income tax in Florida.

Homeowner costs with a mortgage: $1,251

Homeowner costs with a paid-off house: $558

Median rent: $983

Colorado Springs, Colorado

The natural wonders will draw you into this Rocky Mountain city. Retirees can linger among the scenic beauty at Pikes Peak, Seven Falls and Garden of the Gods, or find a volunteer position or part-time job sharing these mountain views with tourists. Athletes from across the country come to Colorado Springs to train at the U.S. Olympic Complex, and seniors can visit the facility at a discounted rate. Retirees who have paid off their mortgages get to live in this high-elevation mountain town for the bargain price of $393 per month. Older homeowners with a mortgage ($1,221) and renters ($827) pay more.

Homeowner costs with a mortgage: $1,221

Homeowner costs with a paid-off house: $393

Median rent: $827

Dayton, Ohio

When selecting a retirement spot, it’s important to make sure that doctors and hospitals will be there if you need them. Dayton’s largest employers are health care providers, and the city has several hospitals U.S. News has rated as high performing for specific procedures and conditions, including Miami Valley Hospital, Kettering Medical Center and Good Samaritan Hospital and Health Center. But living near a variety of health care options doesn’t have to cost a lot, ranging from a median of $469 for retirees with a paid-off house to $659 for renters and $1,080 monthly for seniors with a mortgage. Aviation buffs and air force retirees will enjoy the National Aviation Hall of Fame and the Dayton Aviation Heritage National Historical Park. The famous Wright brothers were Dayton natives.

Homeowner costs with a mortgage: $1,080

Homeowner costs with a paid-off house: $469

Median rent: $659

[Read: 7 Tips to Live Well on Social Security Alone.]

Grand Rapids, Michigan

Grand Rapids is known for its impressive arts scene, which includes Frederik Meijer Gardens & Sculpture Park, the Grand Rapids Art Museum and the Urban Institute for Contemporary Arts . The hometown of President Gerald Ford also has many outdoor recreation opportunities, including the Grand River and nearby Lake Michigan. The area has a booming health care industry, and Spectrum Health is a major employer and service provider. Housing costs are relatively low, with older homeowners paying a median of $1,113 with a mortgage and $434 without one. Retiree renters pay a median of $726 per month to live in the Grand Rapids area.

Homeowner costs with a mortgage: $1,113

Homeowner costs with a paid-off house: $434

Median rent: $726

Pittsburgh

A sports fans paradise, locals can root for the Pirates, Steelers and Penguins. The area is home to several major colleges, including Carnegie Mellon University and the University of Pittsburgh. UPMC Shadyside is ranked the 12th best hospital in the nation by U.S. News. But these big-city amenities are coupled with relatively low housing prices. Costs for older homeowners range from $1,069 with a mortgage to $468 without one. The median rent for retirees is $617 per month. Seniors age 65 or over can also ride the bus, T or Mon Incline for free.

Homeowner costs with a mortgage: $1,069

Homeowner costs with a paid-off house: $468

Median rent: $617

Richmond, Virginia

While northern Virginia has very high housing costs that aren’t likely to be covered by Social Security alone, costs drop significantly a little farther south in Richmond. The median retiree homeowner pays $1,282 per month with a mortgage, which drops to $465 among older residents who have paid off their homes. The median rent for senior citizens is $905 monthly. Virginia’s capital city is divided by the James River, which has whitewater rapids running through town. The area also has several well-regarded hospitals, including the Virginia Commonwealth University Medical Center.

Homeowner costs with a mortgage: $1,282

Homeowner costs with a paid-off house: $465

Median rent: $905

Rochester, New York

While the winters on the southern shore of Lake Ontario can be cold and produce a prolific amount of lake-effect snow, the low housing costs might keep you in town. Older residents pay a median of $1,179 per month with a mortgage and $555 with a paid-off house. Seniors who rent are charged a median of $778 per month. Once the snow thaws, the flowers will bloom again and there is a large Lilac Festival to celebrate. The city boasts several major colleges, including the University of Rochester and the Rochester Institute of Technology, and the highly rated Strong Memorial Hospital.

Homeowner costs with a mortgage: $1,179

Homeowner costs with a paid-off house: $555

Median rent: $778

[Read: 6 Social Security Calculators That Can Help You Decide When to Claim.]

San Antonio

History buffs will delight in this old city that was colonized by the Spanish in the early 1700s. The San Antonio Missions were designated a World Heritage site in 2015. San Antonio is located on the southern edge of the scenic terrain and vineyards of Texas hill country. Health care is provided by the high-performing University Hospital. But these amenities don’t cost a fortune in San Antonio. Renters pay a median of $816 per month, while homeowners face costs ranging from a median of $1,146 monthly with a mortgage to $430 per month without one. Also, keep in mind that Texas doesn’t have an income tax.

Homeowner costs with a mortgage: $1,146

Homeowner costs with a paid-off house: $430

Median rent: $816

Spokane, Washington

Spokane might be best suited to active retirees who love the outdoors. The Spokane River runs through town, and those who walk and bike along it are treated to views of several waterfalls, especially in the spring. Dams along the river are used to generate hydroelectric power. Several nearby ski resorts provide opportunities for winter fun. High-performing hospitals include Providence Sacred Heart Medical Center and Children’s Hospital and Deaconess Medical Center. Housing costs a median of $1,130 for retirees with a mortgage, but that drops to $425 per month among retirees who have paid off their home. Renters pay a median of $662 monthly.

Homeowner costs with a mortgage: $1,130

Homeowner costs with a paid-off house: $425

Median rent: $662

Emily Brandon is the author of “Pensionless: The 10-Step Solution for a Stress-Free Retirement.”

More from U.S. News

10 Retirement Hot Spots in the U.S.

10 Tips for Finding a Great Place to Retire

6 Social Security Changes Coming in 2017

10 Best Places to Retire on Social Security Alone originally appeared on usnews.com

Update 05/11/17: This story was originally published on Oct. 11, 2016.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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