Discover - for college and beyond. Learn More

Financial Aid >> Browse Articles

Browse Financial Aid Articles

  • +4

    Paying the College Directly to Avoid Gift Taxes

    Under current IRS rules, a payment made directly to an educational institution to pay for the tuition of a student does not count as a gift to the student for gift tax purposes. For example, a grandparent can avoid gift taxes by writing a check to the college for their grandchild's tuition instead of giving the money to the student or ...
    Published almost 2 years ago | Rated: +4
  • +21

    Shocking Student Debt Statistics

    Shocking Student Debt Statistics
    Everyone wants a slice of the American Dream and, in this modern day, going to college is essential to success. Forget the Jones’, these days Americans are finding it increasingly difficult to keep up with the very student loans they took out to help ensure future success. So, what happens when they very institution that’s supposed to safeguard your future now ...
    Published over 1 year ago | Rated: +21
  • +24

    Give Back to Say Goodbye to Student Loan Debt

    Give Back to Say Goodbye to Student Loan Debt
    If you’re like the millions of students looking for a way out of your student loans; I've got good news for you. There are alternatives but, as with most things in life, there’s a tiny catch. What's the catch? If you’re willing to do some good for the world (gasp!) and volunteer, there are plenty of programs that will be willing ...
    Published 5 months ago | Rated: +24
  • +3

    Can a Dependent Student File the FAFSA as Independent if the Student's Parents Don't File Federal Income Tax Returns?

    The next several Ask Kantro columns will answer questions about the Free Application for Federal Student Aid (FAFSA). The FAFSA may be filed starting on January 1. The FAFSA is used to apply for student financial aid from the federal and state governments and from most colleges and universities for the award year that runs from July 1 to June 30. ...
    Published over 2 years ago | Rated: +3
  • +8

    Year in Review: Ups and Downs for Student Financial Aid in 2011

    2011 was an eventful year for student financial aid, student loans and scholarships. This article summarizes the major events, positive and negative, for student aid in 2011. It also provides a few highlights of developments that are anticipated for 2012. The Department of Defense and Full-Year Continuing Appropriations Act, 2011 (P.L. 112-10, April 15, 2011) ended the year-round Pell Grant program ...
    Published over 2 years ago | Rated: +8
  • +3

    Why Do We Owe the College Money After the Student Dropped Out?

    My son was awarded an amount from FAFSA and also money from the LIFE and Pell grants. We paid the remainder of his tuition out of pocket. He started his freshman year and started having some medical issues. He withdrew from school during the second drop period. The university sent us a letter explaining how this money was sent back to ...
    Published over 2 years ago | Rated: +3
  • +4

    Can a Student Receive a Pell Grant for a Second College Degree?

    I am a 25-year-old woman looking to go back to school for a second degree in a different field of study than my original degree. I am married to an enlisted sailor and currently unemployed. For my first degree I did not fill out the FAFSA and therefore I did not receive any federal aid in the form of grants or ...
    Published almost 2 years ago | Rated: +4
  • +4

    Financial Aid and Scholarships for Undocumented Students

    What advice would you give on financial aid to undocumented students? — T.T. Before discussing financial aid for undocumented students, it is best for students who believe that they are undocumented to first confirm with their parents that they are indeed undocumented. A student who was born in the United States or certain territories or outlying possessions is a US citizen ...
    Published almost 2 years ago | Rated: +4
  • +9

    Why Do Financial Aid Application Forms Use Last Year's Income?

    Why do the government and colleges use last year's income to determine financial aid for the current year? Our financial situation has changed, my husband was laid off last year but our FAFSA looks okay because of his severance pay. We need financial aid help in order to help our daughter who wants to attend college in the fall. How can ...
    Published about 1 year ago | Rated: +9
  • +5

    Does Filing a FAFSA Obligate You in Any Way? Are Parents Responsible for Repaying a Child's Student Loans?

    I have a question about filling out a FAFSA form for my child. If we fill out the form and my child is granted a loan for college, will the parents be cosigners or responsible in any way for their child's loan either now or in the future? — D.F. No. The Free Application for Federal Student Aid (FAFSA) is the ...
    Published about 3 years ago | Rated: +5
  • +4

    Ask for a Professional Judgment Review for One-Time Events

    In our base year, my spouse will have a one-time job that will significantly raise our income for one year only. We have significant credit card debt and no savings for our child's college education. We plan to use the extra income to pay down our debt and to have money available to help with college costs. But will this one ...
    Published over 2 years ago | Rated: +4
  • +22

    FAFSA Updated to Accommodate Same-Sex Parentage

    FAFSA Updated to Accommodate Same-Sex Parentage
    Progression has reached federal student aid as news that the FAFSA form will now recognize parents that are also same-sex couples. Currently, the Free Application for Federal Student Aid referred to “mother/stepmother” and “father/stepfather” in reference to obtaining information about an applicant’s parents. As a result, applicants with same-sex parents had no choice but to either choose to classify parents at ...
    Published about 1 year ago | Rated: +22
  • +10

    Top Strategies for Maximizing Aid Eligibility

    Top Strategies for Maximizing Aid Eligibility
    These strategies will have the largest impact on need-based aid eligibility. By implementing these strategies, you will be able to maximize your aid eligibility and therefore have a chance of receiving more financial aid. None of these strategies are guaranteed, but they do offer the best chance. 1. Save money in the parent's name, not the child's name. Or use a ...
    Published 4 months ago | Rated: +10
  • +4

    Must a Trust Fund be Reported on the FAFSA Even If Access to the Trust is Restricted?

    I have a friend whose mother passed away two years ago, and left her some money from an insurance policy. The money is currently in trust for her with her grandmother as the trustee. Does she need to claim this as an asset on her FAFSA? She is unable to touch it until she turns 21. — Karen A. In most ...
    Published almost 2 years ago | Rated: +4
  • +5

    Are There Any Fees for Filing the FAFSA?

    Is there a fee to complete the FAFSA and if so, how much? — T. Smith There is no fee to file the FAFSA. As the name suggests, the Free Application for Federal Student Aid (FAFSA) is a free application. You can file the FAFSA online for free at www.fafsa.ed.gov. Section 483(a)(6) of the Higher Education Act of 1965 bans the ...
    Published about 3 years ago | Rated: +5
  • +6

    What Do You Do When Income or an Asset Isn't Really Your Money?

    I am a disabled parent who hasn't worked since 2007. I am currently on long term disability and have been ruled disabled by the Social Security Administration. My child is heading off to college in the fall and we are working on his FAFSA. My Social Security came through in late November in a large lump sum due to back dating. ...
    Published over 2 years ago | Rated: +6
  • +16

    Making Sense of Your EFC

    Making Sense of Your EFC
    Everyone has an idea of what their EFC (Expected Family Contribution) should be, but it typically never matches with what the FAFSA declares, leaving a lot of students and families clambering for more options to pay for school. Understanding how the EFC is determined and what happens after might lead to greater transparency into the process, helping you and your family ...
    Published over 2 years ago | Rated: +16
  • +14

    President Obama Proposes Student Aid Increases in State of the Union Address

    President Obama Proposes Student Aid Increases in State of the Union Address
    In the state of the union address on Tuesday, January 24, 2012, President Obama proposed several increases in student aid spending. The first two proposals call for Congress to extend existing student aid programs that are scheduled to expire this year. Stop the pending increase in student loan interest rates. The College Cost Reduction and Access Act of 2007 enacted a ...
    Published over 2 years ago | Rated: +14
  • +7

    US Department of Education Publishes College Cost and Net Price Rankings

    As required by Congress, the US Department of Education is now publishing lists that rank the most and least expensive colleges. Colleges are ranked according to tuition and fees as well as net price within each college type category. The US Department of Education is also publishing lists of colleges with the greatest increases in tuition and fees or net price. ...
    Published about 3 years ago | Rated: +7
  • +3

    What are the Downsides to Using Home Equity to Refinance Student Loan Debt?

    I have almost $200K in student loan debt at interest rates from 6.5% to 8.5%. My parents are offering to take on $70K of my debt that's at 8.5% by way of a mortgage they have access to at 3.5%, provided that I am able to pay it off in 3 years. Given my current job situation, I can handle the ...
    Published almost 2 years ago | Rated: +3
Join Fastweb for FREE