Financial Aid >> Browse Articles

Browse Financial Aid Articles

  • +5

    What Documentation can a College Financial Aid Administrator Request?

    I'm an independent student who filed a 1040A last year so I was not required to answer questions about assets on the FAFSA application. I had very little income last year and have a zero EFC. I reported taxes on capital gains and now my school is asking for information about my investment assets (which are about $40,000). Can they use ...
    Published almost 2 years ago | Rated: +5
  • +5

    Should Students and Parents Who are Close to Retirement Borrow to Pay for College?

    I am 47 and recently divorced single parent of two children, ages 7 and 8. I spent the last 9 years as a stay-at-home parent. As a result of the divorce, I am re-entering the job market. My last position, as a training and development specialist for a bank, earned roughly $45,000. It has been somewhat difficult obtaining full-time employment and ...
    Published over 2 years ago | Rated: +5
  • +9

    Completing the FAFSA When the Student's Parents Have a Legal Separation

    My parents aren't divorced but are legally separated and have been for about ten years. My mother is unable to remember where the papers for their separation are. I was wondering if I have to put my father's information on the FAFSA even though my mother is my primary care-giver. (I spend all 365 days a year with her.) I don't ...
    Published about 3 years ago | Rated: +9
  • +37

    Crowdfunding for College

    Crowdfunding for College
    Crowdfunding, the latest trend in the startup craze, allows the public to view and donate to causes and projects via a public platform. Students have jumped on the bandwagon, utilizing crowdfunding resources to fund the often astronomical student loans that have accumulated. Here are some resources that students can utilize crowdfunding for debt payment, as well as manage a current financial ...
    Published about 1 month ago | Rated: +37
  • +8

    Fastweb Wins Award for Financial Literacy Education

    Fastweb Wins Award for Financial Literacy Education
    For nearly 17 years, Fastweb has worked to become the leading online resource for paying and preparing for college, and recently, our site soared to new heights with the EIFLE Award! Fastweb was named 2012 Organization of the Year by the Institute for Financial Literacy on Wednesday, April 18, 2012. The Institute for Financial Literacy announced the winners of the 2012 ...
    Published over 2 years ago | Rated: +8
  • +7

    What are the Downsides and Upsides to Unsubsidized Federal Student Loans?

    As a guidance counselor, I have many families asking me if there's any downside to taking out a federal unsubsidized loan. They need loan money either way and the rates for the private loans are much higher than the government loans. Most advice sites and articles are very general in nature. Can you provide any specifics on what would be the ...
    Published over 2 years ago | Rated: +7
  • +3

    A Primer on the Doubling of the Subsidized Stafford Loan Interest Rate

    This article summarizes the background concerning the doubling of the interest rate on new subsidized Stafford loans to undergraduate students from 3.4% to 6.8% on July 1, 2012. It also discusses the impact of the pending change. [Congress passed a one-year extension to the 3.4% interest rate on June 29, 2012.] Background The College Cost Reduction and Access Act of 2007 ...
    Published over 2 years ago | Rated: +3
  • +6

    Does the Cash from a Cash-Out Refinance Count as an Asset on the FAFSA?

    My daughter is a high school junior. I have just refinanced with cash out for a home remodel to accommodate my aging parents. However the remodel is delayed and the money is still in our account. The remodel should be completed and the money spent by the time my daughter starts her senior year. Will this money be counted as asset ...
    Published almost 2 years ago | Rated: +6
  • +4

    Will Filing Income Tax Returns as Married Filing Separately Affect Eligibility for Student Financial Aid?

    My husband and I separated last year and are living at separate addresses. We have not filed for divorce yet or a formal separation. We are considering filing our taxes as married filing separately. I am currently a student at an online university and will need to fill out my FAFSA soon. Although my soon to be ex-husband makes about $75,000 ...
    Published about 3 years ago | Rated: +4
  • +27

    "Free Money" & Taxes

    "Free Money" & Taxes
    Do you know the difference between a scholarships, grant and fellowship? Are you aware of the tax statuses of scholarships, grant and fellowship funding? It’s important to know the differences between the types of award funding, along with any government regulations applied to student award funds. Luckily, the majority of scholarships, fellowships and grants have built-in stipulations that require the funds ...
    Published about 1 year ago | Rated: +27
  • +6

    Can a Student be Cut Off from Financial Aid After Taking Too Many Credits?

    I am currently in community college, hoping to transfer to a traditional 4-year college and then proceed to get my masters in teaching. Where my frustration lies is this: I had a different career focus before and was taking classes toward fulfilling that goal. Now my college's financial aid administrator says that I have taken too many credits at the community ...
    Published over 2 years ago | Rated: +6
  • +3

    Student Loan Debt Clock Reaches $1 Trillion

    Student Loan Debt Clock Reaches $1 Trillion
    The student loan debt clock reached the $1 trillion milestone at about 6:40 am ET on Tuesday, May 8, 2012. Although the student loan debt clock is for entertainment purposes only, reaching this milestone demonstrates that student loan debt is a macroeconomic factor, with the potential to affect the economy, albeit modestly at present. Student loan debt will not derail the ...
    Published over 2 years ago | Rated: +3
  • +8

    Can You Appeal for More Student Financial Aid in the Middle of the Academic Year?

    My husband lost his job recently. My oldest son did not qualify for student aid for college this year except for federal loans. Is there any way my son could now receive financial aid until my husband finds a new job? — Sonja R. Ask the college for a professional judgment review. Some colleges call it a special circumstances review or ...
    Published about 3 years ago | Rated: +8
  • +7

    An Early Look at the New Income-Based Repayment Plan

    A new version of income-based repayment (IBR) was enacted by the Health Care and Education Reconciliation Act of 2010, but will be effective only for new borrowers on or after July 1, 2014. President Obama has proposed fast-tracking the new IBR plan to make it available to more students sooner. This article presents a sneak peak at the details of the ...
    Published over 2 years ago | Rated: +7
  • +13

    How Do You Calculate Individual Income From a Joint Return for the FAFSA When the Parents Are Separated?

    In your answer to How Does Income Tax Filing Status Affect Student Aid?, you address the question of which parent is responsible for completing the FAFSA. However, I'm very curious as to how the filing status of separated parents affects how the FAFSA is processed, once the primary/custodial parent has completed it. That is, is it more advantageous for separated parents ...
    Published over 3 years ago | Rated: +13
  • +7

    Year-End Financial Aid Moves

    As the year draws to a close, there are several steps families can take to get more need-based and merit-based financial aid. Prepay Next Year's Tuition Taxpayers can claim one of two education tax credits based on amounts paid for qualified higher education expenses, such as tuition and fees. These are the American Opportunity Tax Credit (AOTC) and the Lifetime Learning ...
    Published almost 2 years ago | Rated: +7
  • +5

    Why is Parental Information Required on the FAFSA for a Self-Sufficient Student?

    Why do we have to file the FAFSA when my daughter supports herself? My daughter has not lived with me or my husband for a year and a half while she’s been attending college. We do not support her financially, we do not pay for her education nor do we even send her money. She is completely self-sufficient, a fact of ...
    Published almost 2 years ago | Rated: +5
  • +4

    How will a Parent's Financial Troubles Affect the Student's Eligibility for Student Loans?

    My 17-year-old daughter is eager to begin college. We have some difficult financial situations to contend with and could use your advice and direction. Her dad and I are divorced. I have poor credit due to excessive debt, and late payments. I am considering a debt settlement plan right now on two of my debts. I have outstanding student loans, and ...
    Published over 2 years ago | Rated: +4
  • +11

    The Beginner’s Guide to Financial Aid

    The Beginner’s Guide to Financial Aid
    If you’ve begun the college search, you’ve probably heard of a little thing called financial aid. The term is pretty self-explanatory; however, if you’ve talked to anyone who has filled out financial aid forms, the process is anything but simple. But it’s not impossible. Learning more about financial aid on a basic level can help you get a grasp of the ...
    Published 2 months ago | Rated: +11
  • +28

    Money Saving Advice for College Students

    Money Saving Advice for College Students
    Saving money as a college student is critical. The more you save, the better off you'll be. And, while plenty of expenses arise, there are also plenty of overlooked opportunities for students to save. Don't allow yourself to overlook these opportunities! If there's ever a time to live frugally, college is it. You're currently in a very unique situation where frugality ...
    Published 2 months ago | Rated: +28
Join Fastweb for FREE