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  • +7

    Ask the Expert: Why Not Borrow from My 401(k) for My Daughter's College Tuition?

    QUESTION: Why not borrow from my 401(k) for my daughter's college tuition, as there will be less to lose in this economic crisis? -- Betsy Thomas ANSWER: Borrowing from your 401(k) is almost always a big mistake. It may seem innocuous, since instead of paying back a bank loan, you're paying yourself. But you've lost the opportunity to earn further returns ...
    Published over 6 years ago | Rated: +7
  • +5

    How can a Student Pay for College after Losing Student Aid Eligibility due to Unsatisfactory Academic Progress?

    I am not eligible for federal funding at this time because of unsatisfactory academic progress. My appeal was denied and I was told I would again be eligible for federal funding after "the satisfactory completion" of 6 non-federally funded credit hours in an semester. I could easily accomplish this if it weren't for the fact that I don't have the money ...
    Published about 5 years ago | Rated: +5
  • +13

    It’s Payback Time: Keeping Up with Your Student Loan Payments

    It’s Payback Time: Keeping Up with Your Student Loan Payments
    For the past four or five years, your student loans have been a nagging presence, but something that you’ve kept tucked away in the back of your mind – behind the essays, Blue Book exams and presentations. But now, it’s time to bring those pesky student loans to the forefront of your mind and get down to business on repaying them. ...
    Published 6 months ago | Rated: +13
  • +11

    Could You Be Giving Away Too Much on the FAFSA?

    Could You Be Giving Away Too Much on the FAFSA?
    The FAFSA is perhaps one of the most invasive questionnaires you and your family will ever complete. It asks about your private financial situation, special family circumstances and everything else in between. When it’s all said and done, many families feel as if they didn’t get enough financial aid to cover the cost of college. So imagine that colleges may be ...
    Published 12 months ago | Rated: +11
  • +12

    Types of Aid: Dollars for Change

    With college costs rising, most students need help paying for higher education. And most will rely on more than one source to cover costs. Learn how to put together the pieces of your financial aid package. Grants Grants are awards based on financial need or funds distributed to support a specific project (e.g. research grants). This is free money that doesn't ...
    Published about 7 years ago | Rated: +12
  • +7

    How To Ask Friends and Family for Money for a Child's College Savings Plan

    In a Fastweb survey of high school and college students about preferred holiday gifts, more than half of the respondents said that they were hoping for money for college. But asking for money is awkward. It feels like begging. Most people are uncomfortable asking for money, even for a good purpose. Asking for gifts of money is taboo in the United ...
    Published over 4 years ago | Rated: +7
  • +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 almost 3 years ago | Rated: +3
  • +8

    Choosing an Education Loan

    Choosing an Education Loan
    Most families evaluate education loans based mainly on cash flow considerations: • How much money can you get to pay for college costs and/or living expenses? • How much are the monthly payments? • When do the payments start and when do they end? • What is the total cost of the loan (total payments over the life of the loan)? ...
    Published over 5 years ago | Rated: +8
  • +3

    How can a student on academic probation pay for college with no aid?

    My son has brain damage along with seizures and a reading learning disability. With all the doctors appointments, hospital stays and seizures he is on academic probation this semester. So that means, well you know what that means, he will not be allowed to apply for FAFSA this semester. My question to you all is how can I afford to pay ...
    Published almost 6 years ago | Rated: +3
  • +6

    When Can a Student's Grandparents Substitute for the Parents on Financial Aid Forms?

    If a student lives with a grandparent, is there any way the student can use the grandparent's income tax information on her FAFSA? I have lived with my grandmother for all 17 years of my life. My parents currently pay a small amount of child support to her, but that is the only financial support that I receive from them. My ...
    Published over 4 years ago | Rated: +6
  • +7

    Which parent is responsible for completing the financial aid application?

    I am confused about which parent's information to include on the Free Application for Federal Student Aid (FAFSA). My ex-husband paid child support for 7 months this year from a settlement agreement but has been unemployed for nearly two years. He is re-married. My son is 18, lives with me, and starts college next fall. This year my ex-husband gets to ...
    Published almost 6 years ago | Rated: +7
  • +273

    Can You Get a Pell Grant Even If You Don't Qualify for the Free and Reduced-Price School Lunch Program?

    If a child does not qualify for the free or reduced-price school lunch program, can they still qualify for federal student aid? —Y.P. Yes. Students who don't qualify for the free or reduced-price school lunch program can still qualify for federal student aid and should submit the Free Application for Federal Student Aid (FAFSA). The FAFSA added a question about the ...
    Published almost 5 years ago | Rated: +273
  • +5

    That Free Financial Aid Seminar May be Just a Worthless Sales Pitch

    From time to time I receive solicitations for free financial aid seminars that are really sales pitches for a product or service. I attend these seminars to monitor the information (and misinformation) that these seminars disseminate. The latest one was a bit different, in that it was affiliated with a national asset management and financial planning firm. It's not a very ...
    Published about 4 years ago | Rated: +5
  • +4

    Do You Really Need Reasons to File Your FAFSA?

    Do You Really Need Reasons to File Your FAFSA?
    Submitting your Free Application for Federal Student Aid (FAFSA) can be a complicated process. From digging through information on your family's assets to decoding income tax forms, filling out the FAFSA is a hassle, so why bother? Here are five reasons why it's worth it. 1. Federal Aid Do you want some of the more than $95 billion the federal government ...
    Published 10 months ago | Rated: +4
  • -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 4 years ago | Rated: -22
  • +11

    Top Strategies for Maximizing Aid Eligibility

    Top Strategies for Maximizing Aid Eligibility
    These strategies will have the largest impact on need-based aid eligibility. By implementing these strategies, you will be able to maximize your aid eligibility and therefore have a chance of receiving more financial aid. None of these strategies are guaranteed, but they do offer the best chance. 1. Save money in the parent's name, not the child's name. Or use a ...
    Published over 1 year ago | Rated: +11
  • +2

    Do Outstanding Loans Affect Eligibility for Financial Aid?

    How do outstanding loans affect future financial aid awards for my children? Is there any advantage to trying to pay them back early (other than less interest)? Are they counted towards my outstanding debt thereby potentially increasing my aid package? — Linda H. Most forms of consumer debt, including auto loans and credit card debt, are ignored by the Free Application ...
    Published over 5 years ago | Rated: +2
  • +11

    Are "Dual Enrollment" Students Considered College Students on the FAFSA?

    Families should file the Free Application for Federal Student Aid (FAFSA) at as soon as possible after January 1. While the federal government accepts the FAFSA as late as June 30 of the following year, several states have deadlines as early as February or March. Some state funding is awarded on a first come, first served basis, with state grants ...
    Published almost 5 years ago | Rated: +11
  • +5

    How Do I Roll Over US Savings Bonds into a 529 College Savings Plan?

    I have several thousands of dollars in Series EE savings bonds (issued from 1988 through 1992). I know that you can use the bonds relatively tax free if cashed and used for qualified educational expenses, which includes contributions to a qualified tuition program such as a 529 college savings plan. If so, what is the process for doing this? — A.J.K. ...
    Published almost 4 years ago | Rated: +5
  • +10

    First Steps Toward Simplifying the FAFSA

    First Steps Toward Simplifying the FAFSA
    Student aid policy experts have argued for years that the Free Application for Federal Student Aid (FAFSA) is too long and too complicated. The FAFSA form is a source of confusion and frustration for many families. The policy experts have proven that the current process of applying for financial aid is itself a problem that prevents millions of students from applying ...
    Published over 6 years ago | Rated: +10