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

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 ...

Mark Kantrowitz
Published March 4, 2013
Why Does a Parent Qualify for More Financial Aid than Her Dependent Student Child When Both are in College?

Why Does a Parent Qualify for More Financial Aid than Her Dependent Student Child When Both are in College?

I am a 38-year-old wife and mother who decided to go to college 20 years out of high school. I am a student at an online college and receive financial aid ...

Mark Kantrowitz
Published February 25, 2013
Will Financial Aid Cover a Double Major?

Will Financial Aid Cover a Double Major?

You may be able to handle a double major, but can your financial aid?

Mark Kantrowitz
Published February 16, 2013
Does Cash from the Sale of the Family Home Count as an Asset on the FAFSA?

Does Cash from the Sale of the Family Home Count as an Asset on the FAFSA?

We just sold our house and have not yet found our new house and have a lot of cash on hand. We will use the cash to buy a home in ...

Mark Kantrowitz
Published February 11, 2013
Does Parental Support Affect Independent Student Status?

Does Parental Support Affect Independent Student Status?

I am 19 and have a baby (1 month old) and I am living with my boyfriend and his mother. I am confused about whose tax information to use on the ...

Mark Kantrowitz
Published February 4, 2013
How Does a Pending Foreclosure or Short Sale Affect Financial Aid?

How Does a Pending Foreclosure or Short Sale Affect Financial Aid?

How do we answer the question "Do you own your home" on financial aid forms when we are in pre-foreclosure? We are not yet in active foreclosure, but are several years ...

Mark Kantrowitz
Published January 28, 2013
When must a Non-Custodial Parent Count a Child in Household Size?

When must a Non-Custodial Parent Count a Child in Household Size?

I am remarried and my husband pays child support for his two children that live with their mother. They pass the support test. Do we include his children in our household ...

Mark Kantrowitz
Published January 21, 2013
Who Completes the FAFSA When a Student Lives with his Grandparents?

Who Completes the FAFSA When a Student Lives with his Grandparents?

My grandson lives with his grandfather and me. His parents do not support him other than providing medical insurance. He will claim himself on his 2012 income tax and his parents ...

Mark Kantrowitz
Published January 14, 2013
Student Debt Guide: Saving and Investing Money

Student Debt Guide: Saving and Investing Money

Learn how to invest and save like a pro.

Elizabeth Hoyt
Published January 9, 2013
Student Debt Guide: Budgeting and Credit Cards

Student Debt Guide: Budgeting and Credit Cards

Managing money can be quite a challenge. Are you up for it?

Elizabeth Hoyt
Published January 8, 2013
Student Debt Guide: Credit Scores

Student Debt Guide: Credit Scores

What's a credit score and why should you care?

Elizabeth Hoyt
Published January 8, 2013
Can the FAFSA be Completed with Information from the Previous Year's Tax Returns?

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 ...

Mark Kantrowitz
Published January 7, 2013
Dropping Out Means Paying Back Financial Aid

Dropping Out Means Paying Back Financial Aid

As if there weren't enough reasons not to drop out of school, the Department of Education has provided yet another. Students who drop out of college are required to pay back ...

By Michael Pugh
Published January 4, 2013
Big FAFSA Overview

Big FAFSA Overview

The U.S. Department of Education provides billions in student financial aid every year. But you won't see a penny of that unless you fill out the Free Application for Federal Student ...

By Chris Diehl
Published January 3, 2013
Congress Passes Fiscal Cliff Legislation, Extending American Opportunity Tax Credit

Congress Passes Fiscal Cliff Legislation, Extending American Opportunity Tax Credit

Congress passed the American Taxpayer Relief Act of 2012 (H.R. 8) late on Tuesday, January 1, 2013. The measure passed with bipartisan support in the Senate by a vote of 89 ...

Mark Kantrowitz
Published January 1, 2013
The FAFSA - Step One for Financial Aid

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 ...

By Kay Peterson, Ph.D.
Published December 31, 2012
Confusion about Reporting Custodial 529 College Savings Plan Accounts on the FAFSA

Confusion about Reporting Custodial 529 College Savings Plan Accounts on the FAFSA

My daughter is a freshman (in college) and lives more than 50% of the time with her mother who is the custodial parent. Her mom and I have been divorced for ...

Mark Kantrowitz
Published December 31, 2012
Why is Parental Information Required on the FAFSA for a Self-Sufficient Student?

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 ...

Mark Kantrowitz
Published December 24, 2012
Year-End Financial Aid Moves

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 ...

Mark Kantrowitz
Published December 20, 2012
Does the Cash from a Cash-Out Refinance Count as an Asset on the FAFSA?

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 ...

Mark Kantrowitz
Published December 17, 2012