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  • +4

    Does Home Equity Affect Eligibility for Financial Aid? What If You Sell the Family Home?

    Ask Kantro: Does Home Equity Affect Eligibility for Financial Aid? What If You Sell the Family Home? Is home equity considered an asset when determining eligibility for aid? — Steve The net home equity of the family's principal place of residence (the family home) is not reported as an asset on the Free Application for Federal Student Aid (FAFSA). However, ...
    Published over 3 years ago | Rated: +4
  • +3

    How Can One Shelter Parent Assets on the FAFSA?

    My daughter is going to college next year. We have to file the FAFSA in January. We have money in our savings account that we saved for emergency reasons and some for my daughter's college. Will this affect her chance in getting grants or loans? What should we do? — G.N. Money in a savings account counts as an asset on ...
    Published over 2 years ago | Rated: +3
  • -22

    PSST! Want to Graduate from College with an Undergraduate Degree and No Debt?

    A recent research report analyzes the characteristics of the 1.7 million undergraduate students who were able to graduate in 2007-08 without any student loan debt. About two fifths of undergraduate students graduate with no debt and three fifths graduate with less than $10,000 in student loan debt. This analysis yields seven practical tips on what you should do if you want ...
    Published over 3 years ago | Rated: -22
  • +11

    President Obama Signs Student Aid Bill of Rights

    President Obama Signs Student Aid Bill of Rights
    The difficulties of student loan repayment have been an integral part of the dialogue surrounding paying for school in recent years. College graduates began slipping under payments long before the recession, but the tough economic times only exacerbated the struggle, making it more of a common occurrence than an anomaly. Fortunately, the economy is healthier; however, the state of student loan ...
    Published about 1 month ago | Rated: +11
  • +8

    Students Lose Financial Aid for Failure to Make Satisfactory Academic Progress

    I have been attending college for some time now. Ever since my mom passed away I have been really shaking with some of my classes. Last semester I did decent: I got an A, two Cs and a D. But my appeal for financial aid got denied. I had to pay out of pocket for the spring semester and I won't ...
    Published over 3 years ago | Rated: +8
  • +4

    Should a Family Sell Student-Owned Stocks to Get More Financial Aid?

    I have two daughters. One is a junior in college. The other is a senior in high school who will be going to college this fall. They both have stocks given to them by my parents years ago, from which they get quarterly dividends of around $140 each. Every year on the FAFSA I have to put the current value of ...
    Published about 3 years ago | Rated: +4
  • +11

    Don’t Miss Out on These 5 Financial Aid Options

    Don’t Miss Out on These 5 Financial Aid Options
    If you feel like you’re in the dark about financial aid, you’re not alone. It’s not something that students and families typically think of until it’s time to start searching for colleges, which in most cases is the junior year of high school. Once the college search begins, so does the financial aid research. Throughout the process, you will learn a ...
    Published about 1 month ago | Rated: +11
  • +6

    U.S. Department of Education Seeks Ideas from Students, Parents and Educators on How To Improve Financial Aid Award Letters

    Public Meeting The U.S. Department of Education is holding a public meeting on Tuesday, September 13, 2011, to discuss ways to improve financial aid award letters. The goal is to develop recommendations for making financial aid award letters easier to understand and compare. The public meeting will also help the U.S. Department of Education create a recommended model for financial ...
    Published over 3 years ago | Rated: +6
  • +13

    If I Stop Paying My Student Loans, Will the Default Yield a Reasonable Settlement?

    I would like to know what will happen if I stop paying my student loans. I have never been unemployed and don't plan to be, but my loan payments are over $700 a month and that is unreasonable (that's over half of my monthly salary). I have tried three different jobs since graduating in the hopes of making more money, but ...
    Published over 3 years ago | Rated: +13
  • +4

    Should Wealthy Parents Cut Family Income Tenfold to Help their Children Qualify for Need-Based Student Financial Aid?

    My wife and I make about $150,000 in combined income. We have probably $350,000 in home equity, $100,000 in rental property equity and $500,000 in retirement accounts. We have three kids in college and a fourth starting in the fall a year from now. We hope to quit our jobs at some point and move to Nicaragua (or another Central American ...
    Published about 3 years ago | Rated: +4
  • +29

    Tuition Saving Tips

    Tuition Saving Tips
    Oh, tuition. Some consider it a nasty word and rightfully so. It’s expensive and can hang over a student’s head throughout college and for years to come. But there are ways to save on tuition – you just need to become savvy about it. It takes time and effort, but when you’re talking about that much money, it’s more than likely ...
    Published about 1 year ago | Rated: +29
  • +10

    Student Loan Over $1 Trillion: What to Know Before You Borrow

    Student Loan Over $1 Trillion: What to Know Before You Borrow
    With National Decision Day looming, students and their parents are taking a close look at top college choices and assessing academic offerings and campus body fit. But most importantly, families are taking a look at each school’s affordability. On Wednesday, the Consumer Financial Protection Bureau launched its latest tool to help educate students and their families on the costs of borrowing ...
    Published about 3 years ago | Rated: +10
  • +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 over 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 about 3 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 over 3 years ago | Rated: +9
  • +38

    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 8 months ago | Rated: +38
  • +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 about 3 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 about 3 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 about 3 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 over 2 years ago | Rated: +6
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