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  • +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 1 year ago | Rated: +5
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    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 2 years ago | Rated: +5
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    Questions about the Health Care and Education Reconciliation Act of 2010

    If you have already graduated from college, will you be affected by the new changes to student loans in the health care bill? — Lauren A. No. None of the changes enacted by the Health Care and Education Reconciliation Act of 2010 will affect students who have already graduated. Starting July 1, 2010, all new federal education loans will be made ...
    Published about 4 years ago | Rated: +5
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    The FAFSA - Step One for Financial Aid

    Applying for financial aid is easier than you think. Your first stop: the (FAFSA). For many schools, this is the only form you need. What is it? The FAFSA is the form the federal government uses to determine your eligibility for federal assistance (loans, grants, work-study appointments and some scholarships). Schools also base their financial aid packages on the FAFSA. And, ...
    Published over 1 year ago | Rated: +5
  • +5

    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 almost 2 years ago | Rated: +5
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    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 over 1 year ago | Rated: +5
  • +5

    Is There Any Way to Shelter Retirement Plan Distributions on the FAFSA?

    My question is simple: is there a way to withdraw money from my 401(K), at age 59 1/2, that will not be counted as income for FAFSA purposes? Although I receive an annual pension of $34,500, I fall short by about $20,000 to meet my annual expenses. Should I withdraw what I need for next year this year, so it doesn't ...
    Published almost 2 years ago | Rated: +5
  • +5

    Can the FAFSA be Completed with Information from the Previous Year's Tax Returns?

    My daughter got accepted to her first-choice school, a private university, as an early-decision candidate. The school won't be able to tell us the amount of financial aid she will be offered until March. I am eager to file the FAFSA and CSS Financial Aid PROFILE forms as soon as possible, as I've heard this helps maximize the amount of aid ...
    Published over 1 year ago | Rated: +5
  • +5

    Complete, Concise Federal Loan Programs Info

    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 ...
    Published almost 5 years ago | Rated: +5
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    What Do You Do If Your Application for a FAFSA PIN is Rejected?

    If you get an email message that says "Your request for a Federal Student Aid PIN cannot be processed because the Social Security Number (SSN), name, or date of birth that you provided on your PIN application does not match your information on file at the Social Security Administration (SSA)... If you are sure that the SSN, name, and date of ...
    Published over 2 years ago | Rated: +5
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    Which Student Loans are the Best Ones to Borrow?

    I'm a first year and I'm searching for student loans with my mom and I'm not sure which one is the best one I should take out. Do you have any suggestions? — Joanna P. When comparing student loans, consider both the cost of the loan and the other benefits of the loan program. The cost of a loan is based ...
    Published almost 2 years ago | Rated: +5
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    How are Trust Funds Reported on the FAFSA?

    Each of my parents left me a trust. From each trust I am entitled to the interest income and $5,000 annually. The remainder of the principal stays in the trusts until I die. The trusts then terminate, and the remaining principal is distributed to my son. My son is the one going to college, by the way. This skews my EFC ...
    Published almost 4 years ago | Rated: +5
  • +4

    Answers to Common Questions about Dependency Status and Financial Aid

    Will my daughter's chances for receiving financial aid be higher if we don't claim her on our taxes? Household income is about $85,000 and she did not qualify for financial aid through the FAFSA. She is in a community college and is 20 years old. She recently moved out of our home but we are paying her college tuition. She has ...
    Published over 2 years ago | Rated: +4
  • +4

    Government Report Reviews Private Student Loans and Recommends Statutory Changes

    The Consumer Financial Protection Bureau (CFPB) and the US Department of Education released a report to Congress about private student loans on July 20, 2012 as mandated by section 1077 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203, 7/21/2010). The report discusses the growth and changes in the private student loan marketplace, the use of private student ...
    Published almost 2 years ago | Rated: +4
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    Impact of the Super Committee Stalemate on Federal Student Financial Aid

    On November 21, 2011 the Joint Select Committee on Deficit Reduction, also known as the super committee, announced that it had failed to reach an agreement to reduce the deficit. The super committee was charged with cutting the budget deficit at least $1.2 trillion over the next 10 years. One side was unwilling to increase revenues while the other side was ...
    Published over 2 years ago | Rated: +4
  • +4

    How is a Life Estate Treated on the FAFSA? Do the Restrictions Matter?

    How is a life estate reflected on the FAFSA? A student's parent has a deed with student's grandparent having life use of the property through a life estate. Please be New York state specific with the response. — T.G. A life estate involves an irrevocable grant of a future interest in a property while reserving a present interest in the property. ...
    Published about 1 year ago | Rated: +4
  • +4

    Will a Parent PLUS Loan be Denied When Applying for Two Loans for Two Children?

    I am applying for two Parent PLUS loans because I have twins going to school at the same time. Is it possible one loan will be denied because we are applying for two at the same time? What can I do if one of the applications is denied? We have good credit 730 and 780 for each of us. — Michelle ...
    Published over 1 year ago | Rated: +4
  • +4

    Kantro's Tips to Save You Money!

    Kantro's Tips to Save You Money!
    Financial Aid Guru Mark Kantrowitz has compiled his top tips on repaying student loans, saving money and alternatives to student loans. Any wise student will heed this advice! Repaying Student Loans • Sign up for auto-debit with electronic billing, where the monthly loan payments are automatically debited from your bank account. Many education lenders offer a 0.25% or 0.50% interest rate ...
    Published over 3 years ago | Rated: +4
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    Is the Pell Grant Reduced When the Student Wins a Private Scholarship?

    My daughter has been approved for a Pell Grant. She recently received notification that she has won a $1,000 scholarship. Will the scholarship reduce her Pell Grant? — Virginia M. The Pell Grant is never reduced when the recipient wins a private scholarship. Some forms of need-based financial aid are reduced when a student wins a scholarship. These include federal campus-based ...
    Published over 1 year ago | Rated: +4
  • +4

    Changes in Store for Student Loan Programs

    Recent changes on popular student loan programs will affect recent college graduates, incoming college freshman and parents too. Interest Rates Up As of July 1, new Stafford loans carry a fixed interest rate of 6.8 percent for the life of the loan. Previously, Stafford loans had a variable interest rate that was adjusted every July and a lower interest rate while ...
    Published about 7 years ago | Rated: +4