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  • +11

    Pros and Cons of Using Retirement Funds to Pay for College Costs

    Why should one NOT use retirement funds to pay for a child's college costs? — Diane H. There are two main reasons why families shouldn't use retirement plan funds to pay for college. The first reason is the financial impact of taking a distribution from a retirement plan to pay for college. The financial impact includes both the tax liability and ...
    Published over 3 years ago | Rated: +11
  • +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 3 months ago | Rated: +11
  • +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
  • +24

    College Choices in a Down Economy

    College Choices in a Down Economy
    Fastweb partnered with Maguire Associates, a firm that specializes in market research, analysis and predictive modeling for colleges and universities, to evaluate the impact of the economy on college choices by high school seniors and their parents. Initial surveys were sent in February and March 2009 to identify the initial selection of colleges. Follow-up surveys were sent in May 2009 to ...
    Published over 5 years ago | Rated: +24
  • +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
  • +5

    Wells Fargo Adds Death and Disability Discharges to Private Student Loans

    Wells Fargo announced on December 17, 2010 that it is adding death and disability discharges to its private student loan products. When the student borrower dies or becomes totally and permanently disabled, the remaining debt will be discharged. This new policy applies to all Wells Fargo private student loans, including loans with a cosigner. Total and permanent disability is defined as ...
    Published over 4 years ago | Rated: +5
  • +6

    Which are Better, US Savings Bonds or 529 College Savings Plans?

    We have a son who is going to be in the 10th grade this year. We also have twins who are 3.5 years old. I am trying to understand where to park my savings for elder son and the little ones. I heard if we have 529 plans, they will be included in financial aid calculations and this is not a ...
    Published almost 3 years ago | Rated: +6
  • +11

    Tips for a Teacher on Managing Excessive Debt

    I have a dire question that needs urgent results. I took out a loan in college (undergraduate). I was foolish and took out the maximum loan amount that I could each time. Upon graduating, I moved to another state and began my teaching career. In the beginning years it was hard for me to make payments and I made bad choices ...
    Published almost 5 years ago | Rated: +11
  • Rate

    Combat Pay and Other Untaxed Income

    Combat Pay and Other Untaxed Income
    This page discusses the reporting of combat pay, housing allowances and substistence allowances on the Free Application for Federal Student Aid (FAFSA). It also mentions other pitfalls encountered by veterans, such as confusing aspects of the W-2 statement. Combat pay, although excluded from gross income, is still considered during the need analysis for federal student aid purposes. It is reported as ...
    Published about 6 years ago | Rate This
  • +9

    7 Resources for Returning Students Paying for College

    7 Resources for Returning Students Paying for College
    As a returning student, you may feel that the scholarship search will be fruitless, financial aid will be nonexistent and that there are more inconveniences rather than benefits to going back to school. But that’s not the case at all. In fact, there are more than a few resources at your disposal to help you pay for school too. Independent Student ...
    Published 10 months ago | Rated: +9
  • +7

    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 the next couple of months. The cash is a false representation of our savings, but since we don't have a mortgage, it looks like we do. We need to keep ...
    Published over 2 years ago | Rated: +7
  • +11

    Questions about the Free Application for Federal Student Aid (FAFSA)

    Having grown up with depression era parents, I've never been someone that liked to have debt. I'm told that avoiding debt will not work in my favor when applying for financial aid for my son's education. What should I know and is there something I should do to improve my odds of getting what other typically debt-ridden families in our tax ...
    Published over 5 years ago | Rated: +11
  • +10

    Senator Al Franken Introduces Legislation to Standardize Financial Aid Award Letters

    Senator Al Franken (D-MN) introduced the Understanding the True Cost of College Act (S.3244) on Thursday, May 24, 2012 with bipartisan support. This legislation will standardize college financial aid award letters to help students and parents make informed decisions concerning the tradeoffs between college affordability and college quality. It will also help students and their families make smarter borrowing decisions. Students ...
    Published about 3 years ago | Rated: +10
  • +1

    Will Refusing Loans Increase College Grants in the Financial Aid Package?

    I filled out the FAFSA in March and recently received a letter that offered me a $3,500 unsubsidized Stafford loan. I did a little research and found out I would have to pay interest on interest. I'm thinking about declining it and mailing it back to the school I attend. Will I be offered any other financial aid or is this ...
    Published about 5 years ago | Rated: +1
  • +12

    3 Things You Need to Know About Financial Aid Now

    3 Things You Need to Know About Financial Aid Now
    Now that your college applications are in, it’s time to turn your focus to financial aid. Unfortunately, as much as college applications are nerve-wracking, financial aid documents are mind-boggling. But they are a “necessary evil.” Students hoping to pay for school with financial aid resources are required to fill out these forms, and the sooner the better. Here are a few ...
    Published 4 months ago | Rated: +12
  • +5

    Impact of Capital Gains on Eligibility for Need-Based Financial Aid

    Families often sell investments such as stocks, bonds and mutual funds to pay college bills. If these investments are not held within a 529 college savings plan or other qualified tuition plan, however, the capital gains from selling the investments can hurt the student's eligibility for need-based financial aid. Capital gains occur when you sell an asset that has appreciated in ...
    Published almost 4 years ago | Rated: +5
  • +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 over 8 years ago | Rated: +4
  • +11

    Congress Passes One-Year Interest Rate Freeze

    Congress passed legislation on Friday, June 29, 2012 to prevent the interest rate on subsidized Stafford loans to undergraduate students from doubling July 1, 2012. The last-minute legislation, which passed with strong bipartisan support, keeps the interest rate at 3.4 percent for new loans in 2012-13, instead of allowing it to revert to 6.8 percent. The Student Loan Interest Rate Extension ...
    Published about 3 years ago | Rated: +11
  • +7

    Student Debt Guide: Credit Scores

    Student Debt Guide: Credit Scores
    Good credit, bad credit, credit score reports, sites and don’t even mention credit cards! It’s all too easy to get jumbled in the mix. Luckily, our financial expert Mark Kantrowitz breaks down the basic questions, like what a credit score is and why should you care.[gate] How is my credit score calculated? Lenders report whether you pay your bills on time ...
    Published over 2 years ago | Rated: +7
  • +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 over 2 years ago | Rated: +7
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