There are many college financial planners in my area who claim to be able to help us "legally and ethically" reposition our assets to lower our expected family contribution (EFC) and save us thousands of dollars per year in college costs. Are there really such secrets out there that will help us that much? — Larry C. Less than 4% of ...

I applied for a Parent PLUS loan for my son's education starting this fall. I was turned down due to filing chapter 7 four years ago this October. They said I would not be able to get funds until October of 2010. My lawyer, who helped me file chapter 7 said that he believed this was discrimination and not allowed. Is ...

When I turned in my FAFSA my parents were making a lot more money than they are now. Both my parents were working full time, but now my mom is the only one working for minimum wage, with my dad jobless. Is there anything I can do at this time to change my FAFSA? — Sam W. Call or write the ...

I am thinking about going back to school to get a second bachelors degree. Because I already have a B.A. degree, it seems that I am not able to receive any aid other than student loans. Is this true or am I missing something? — Josh S. Student with a prior Bachelor's degree are ineligible for the Pell Grant, Academic Competitiveness ...

The US Department of Agriculture estimates that middle-income two-parent families will spend $221,190 in 2008 dollars to raise a child born in 2008 from birth to high school graduation. The cost per child for low income families (earning less than $56,870) is $159,870 and the cost per child for upper income families (earning more than $98,470) is $366,660. These estimates do ...

Some people have argued that the high cost of a college education is a bubble waiting to burst. They draw superficial comparisons with the housing market, pointing out the high cost, heavy financing with no down payment, federal subsidies and tax deductible interest. But unlike a house, a college degree is an asset that enables the production of income. In a ...

Euro. Yen. Dollar. Whatever you call it, if you want to study abroad you're going to need it. There are ways to get financial aid to study abroad. Find out how to make your trip overseas more affordable. The Ins and Outs of Aid Eligibility Before you rule out study abroad because of the cost, find out whether you may be ...

1. What types of financial aid do you offer? What are the requirements for need-based aid and for merit-based aid? 2. How much debt do students have when they graduate? What percentage of students graduate with debt? 3. If I get a work-study job, how many hours will I be required to work per week? Are part-time jobs available to students ...

Have you ever received a financial aid question from a question that you just didn't know? Wish you had a nationally recognized expert in your phone book? Now, you can have one at your fingertips: meet Mark Kantrowitz (if you haven't met him already). Mark is a frequent financial aid contributor to The New York Times, the Washington Post, USA Today, ...

Colleges all over the country are seeing a rise in applications for federal financial aid. In 2008, more than a million more students applied for financial aid, marking a 10.5% increase from 2007. In the first quarter of 2009, applications for financial aid are up 20.8% as compared with the first quarter of 2008. Not only are more students applying for ...

With President Barack Obama's inauguration, many people are looking forward to the changes he promised during his campaign in 2008. He set specific goals in evolving the college application and attendance process. One specific plan is the American Opportunity Tax Grant. Another is the elimination of the FAFSA. President Obama and Vice President Biden hope to streamline the process of applying ...

As soon as a student begins their college search process, they meet their biggest adversary: money. Unfortunately, money only complicates things for students searching for the perfect school. Throw in words like "unsubsidized Stafford loan" and they're ready to quit college before it even starts. However, Kantrowitz has a great way of simplifying federal loan programs for students. The Stafford Loan ...

Short on funds shouldn't mean you're short on brains. Don't be that guy who has to admit, "I was young; I needed the money." True: being a college student means making mistakes, but in these financial times, there are some lessons it's better not to have to learn the hard way. No matter how bad it gets, making one of these ...

Your parents are broke but not broke enough for you to qualify for full need. You have no chance of getting a student loan. During your summer vacation, you burned through your savings. Tuition prices just shot up another 7%. And despite receiving several scholarships, you will still owe thousands of dollars for your college education. So what do you do? ...

Throughout the country, the economy seems to be cropping up in every conversation. In fact, the economy has students and their parents talking about finances more than ever. A survey of FastWeb users revealed that 57.1% of high school juniors and seniors talked with their parents just last week about finances for college. As the reports for a grim outlook over ...

The Hope Scholarship provides a federal income tax credit of up to $2,500 (40% refundable) per student based on the first $4,000 in postsecondary tuition, fees and course materials paid by the taxpayer during the tax year. The Hope Scholarship tax credit is 100% of the first $2,000 and 25% of the second $2,000. The tax credit is limited to the ...

The Lifetime Learning provides a federal income tax credit of up to $2,000 per taxpayer based on the first $10,000 in postsecondary tuition and fees paid by the taxpayer during the tax year. The Lifetime learning tax credit is 20% of the first $10,000. The tax credit may be received for an unlimited number of years. Amount of Credit The Lifetime ...

You've probably already calculated tuition bills and costs for room and board. Yet the hidden costs of college — from pizza to airfare, from library fines to laundry money — can easily add up to another $2,000 per year. To get a handle on those extras, you'll want to put together a monthly budget that estimates your costs. Be sure to ...

You've calculated tuition costs, figured in room, board and books. You've even checked out scholarships and grants, filled out the FAFSA and budgeted for day-to-day expenses like groceries and laundry money. You've covered all your financial bases. Yet even with careful planning, you may encounter college costs that take you by surprise. These costs crop up in the form of "miscellaneous ...

Borrowers of federal and private education loans may deduct up to $2,500 in interest as an above-the-line exclusion from income. This deduction may be taken even if the taxpayer does not itemize. Amount of the Deduction You can deduct up to $2,500 in interest on a qualified education loan. The deduction is taken as an adjustment to income, so you can ...