Over the years, I have developed a network of other fiduciary financial planners. From time to time, I invite one of these individuals to contribute an article of interest. Today, Ann Garcia of Independent Progressive Advisors shares her thoughts about “Understanding Financial Aid” Ann is a financial advisor in Portland, OR.
Understanding Financial […]
If at any time you withdrew money from your 529 college-savings plan during 2015, then you will have received Form 1099-Q for tax reporting purposes. Here are 6 mistakes you (or your tax professional) want to avoid during the process:
It is without a doubt that pursuing higher education is expensive. If you are paying for school by yourself, or you’re trying to find a way to pay your college student’s education then these four tips will be sure to help you.
Time and time again we’ve seen students graduating with massive amounts of debt and then struggle to pay it back. College is expensive! In fact, students who graduated in the 2014 school year walked away with an average of $33,000 worth of student loan debt.
The IRA contribution that you may make can actually lower your child’s college aid eligibility in 2016-2017. As explained in the original article, the IRA contributions you receive are “added back” to your adjusted gross income in the financial aid formulas that are used to determine a student’s need-based aid eligibility. The Forbes article uses the example of Ken and Barbie filing their taxes as a point of reference.
Every year students apply for FAFSA and scholarships, with hopes that they can reduce the amount of loans they will take out. A question that most people think but never ask is “what’s the biggest my student loans should be?” As a general rule of thumb, your student loans should never be more than 2x your expected average salary.
College tours are both exciting yet painful. It’s an experience that some students share with their parents / guardians and an adventure that some students take on their own. College tours are a learning experience that aids an individual in deciding what college or university is best fit for them. Here are a few reasons why you should hire a pro for your college tour:
Grandparent-owned 529 accounts have received a lift this week from the Department of Educations’s announcement of new rules in regards to the FAFSA financial-aid application. Here is what’s happening:
While the purpose of attending college is to earn a “high-paying” degree, students are also aiming to be admitted into an elite institution – if not one of the eight Ivy League schools. However, research finds that the Ivy Leagues do not have a “golden ticket” to an earnings advantage after graduation.
The most expensive colleges are now over $65,000 per year. At the same time, student loan debt is over $1 trillion and escalating right along with the cost of college. Student loans, however, are not the only way families can borrow to help pay for college. The following is an overview of the 8 common types of loans used in education funding, followed by a bit of guidance to help you understand which loan(s) might be best for you and your child. 2015 Guide To FAFSA, CSS Profile, College Financial Aid And Expected Family Contribution (EFC)