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Browse Financial Aid Articles

  • +4

    What Happens When Retirement Money isn't in a Qualified Retirement Plan?

    I am a single parent, age 56 and my daughter will be applying for college next year. I make less than $60,000, but have just over $100,000 in savings and mutual funds that I have saved towards retirement as I am self employed. (I just recently found out about other self employed retirement options.) Will my daughter receive less financial aid ...
    Published over 1 year ago | Rated: +4
  • +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 almost 2 years ago | Rated: +7
  • +1

    Cost of Raising Children from Birth to High School Graduation Up 0.5% to $222,360

    The US Department of Agriculture estimates that middle-income two-parent families will spend $222,360 in 2009 dollars to raise a child born in 2009 from birth to high school graduation. The cost per child for low income families (earning less than $56,670) is $160,410 and the cost per child for upper income families (earning more than $98,120) is $369,360. These estimates do ...
    Published over 4 years ago | Rated: +1
  • +9

    Dad Died, Mom Remarried; Grandma Moved In. How do These Changes Affect My FAFSA?

    We recently had an addition in the family. Not a new sibling, but my mother's mom is now living with us. She's great and we love having her, but she's not free. Should I change any info on my FAFSA because of this? — Sana B. If your grandmother lives with and receives more than half her support from your parents, ...
    Published about 5 years ago | Rated: +9
  • +11

    5 Myths about Financial Aid

    5 Myths about Financial Aid
    Let’s be honest about something: financial aid is tricky, confusing and overwhelming. As is with all things complicated, it’s easy to see why students and parents alike believe everything they’re told about the process. Unfortunately, that means students are told a lot of “falsehoods.” One of the best things students and parents can do for their financial aid chances is to ...
    Published about 1 month ago | Rated: +11
  • +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 over 3 years ago | Rated: +5
  • +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 almost 2 years ago | Rated: +7
  • +3

    Insider Secrets: FAFSA - Free Application For Federal Student Aid

    Financial aid is a complicated topic with an alphabet soup of acronyms like FAFSA and EFC, rolling deadlines and (seemingly) endless forms, rules and regulations. But with the state of the economy, you're most likely going to have to get some sort of outside help in your pursuit of higher education. Don't panic! This video will provide you with answers ...
    Published about 5 years ago | Rated: +3
  • +5

    A Prospective Student is Ineligible for Financial Aid Because of a Student Loan Default

    I gave college a shot when I was 18 and dropped out due to major health problems. Student loans obviously did not disappear because of this and I have been struggling with them ever since. Now at age 24 I finally feel that I am healthy enough to give school a second try. I thought I had every detail worked out ...
    Published over 3 years ago | Rated: +5
  • +9

    Questions about Maintaining and Regaining Eligibility for Federal Education Loans

    I have a sophomore in college right now and will have another child starting her freshman year in college next year. We were approved for a Stafford Loan and a Parent PLUS loan for our son this year. We will need to have student loans to finance the entire amount of both kids' education. Will we be able to continue to ...
    Published about 5 years ago | Rated: +9
  • +4

    Ask for a Professional Judgment Review for One-Time Events

    In our base year, my spouse will have a one-time job that will significantly raise our income for one year only. We have significant credit card debt and no savings for our child's college education. We plan to use the extra income to pay down our debt and to have money available to help with college costs. But will this one ...
    Published almost 3 years ago | Rated: +4
  • +6

    New Husband Refuses to Help with College Costs

    I have been a single mother raising twin daughters pretty much all their life but recently (2 years ago) remarried a fairly successful man who has from day one said he will not contribute to their education. He provides absolutely NO support for the girls, I pay their tuition and everything else they need all on my own. My daughters are ...
    Published about 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 over 4 years ago | Rated: +11
  • +7

    Time to panic about prepaid tuition plans?

    Time to panic about prepaid tuition plans?
    The New York Times reported on October 5, 2009 that 16 of the 18 state prepaid tuition plans are facing funding shortfalls because of a combination of stock market losses and increases in tuition at public colleges. Only five state plans are backed by the full faith and credit of the state. While the other states will be under political pressure ...
    Published about 5 years ago | Rated: +7
  • +5

    Must the Student's Child Live with the Student for the Student to be Independent?

    I'm 23 and have a 4-year-old child. Last year I received independent status for my financial aid because I supported my child more than 51% of his needs. This year the financial aid office asked for the same documents as last year but told me that I couldn't be an independent student because I didn't have enough documented proof. I explained ...
    Published about 2 years ago | Rated: +5
  • +10

    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 4 months ago | Rated: +10
  • +15

    How a Decrease in College Endowments Will Impact Your Child's College

    How a Decrease in College Endowments Will Impact Your Child's College
    Over the last decade, colleges enjoyed double-digit increases in their endowments. A college’s endowment is not only a sign of an institution’s financial strength, but it also allows the institution to fund new projects. With alumni donations, many colleges expanded academic programs, refurbished campus facilities, and improved financial aid awards. College endowments, however, are not immune to the drastic downturn in ...
    Published almost 6 years ago | Rated: +15
  • +5

    Questions about Net Assets and Changes in Marital Status

    On the asset section of the FAFSA form if you have $100,000 in stocks but also have a $75,000 margin loan balance would you net this out and put down $25,000 in stock assets? — Rob A. Yes. You report the net asset value, namely the current market value of the assets minus any debts secured by the assets. Since a ...
    Published almost 5 years ago | Rated: +5
  • +2

    Aboriginal Art and College Cost Bubbles

    Aboriginal Art and College Cost Bubbles
    What does Australian aboriginal art have to do with college costs? Read on. When I was a research scientist at a software laboratory over a decade ago, I purchased a few paintings by aboriginal artists during a trip to Australia to present a paper at an international computer science conference. Australian aboriginal art is intriguing because it is both primitive and ...
    Published about 3 years ago | Rated: +2
  • +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 almost 2 years ago | Rated: +5
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