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  • +19

    Avoiding the Average...

    Avoiding the Average...
    ...When It Comes to Your Student Debt So, what’s the deal with debt these days? Well, a lot actually. And, unfortunately, it’s not good news. According to a recent report released by the Institute for College Access & Success’ Project on Student Debt, which also appeared on CNNMoney, the average debt for a student in the class of 2012 was $29,400. ...
    Published over 1 year ago | Rated: +19
  • +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 over 2 years ago | Rated: +4
  • +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 about 2 years ago | Rated: +4
  • +5

    How Should Divorced Parents Split a Child's College Costs?

    I am the custodial parent for my daughter who will go to college this fall. It will be her first year. My income was reported on the FAFSA. This included child support, although my ex-husband has recently stopped paying child support. Now the ex-husband wants access to half of the funds available through the FAFSA to use toward his half of ...
    Published almost 4 years ago | Rated: +5
  • +5

    Should Parents Pay Off Credit Cards Before Applying for College Loans and Other Aid?

    Why is it better for parents to pay off credit cards (if one can) before obtaining loans for a child for college? — Diane H. Most forms of consumer debt, such as credit cards and auto loans, are ignored on the Free Application for Federal Student Aid (FAFSA). Even education loans are ignored. The only exception to this rule occurs when ...
    Published almost 4 years ago | Rated: +5
  • +25

    FAFSA Information for DACA Students

    FAFSA Information for DACA Students
    The Immigration Policy Center estimates that “approximately 65,000 undocumented students graduate from high school” annually. DACA students are defined as a subgroup of these undocumented students who have received Deferred Action for Childhood Arrivals (DACA). What is Deferred Action? The U.S. Citizenship and Immigration Services (USCIS) defines "deferred action" as "a discretionary determination to defer a removal action of an individual ...
    Published 4 months ago | Rated: +25
  • +21

    First Lady Michelle Obama's FAFSA Completion Challenge

    First Lady Michelle Obama's FAFSA Completion Challenge
    The release of the 2015-2016 FAFSA – that’s the Free Application for Federal Student Aid (as if you didn’t know) – is right around the corner. On January 1, 2015, the financial aid form becomes available for the New Year. As part of her Reach Higher education initiative, First Lady Michelle Obama is calling on you to help increase the number ...
    Published 4 months ago | Rated: +21
  • +5

    Can a Dependent Student File the FAFSA as Independent if the Student's Parents Don't File Federal Income Tax Returns?

    The next several Ask Kantro columns will answer questions about the Free Application for Federal Student Aid (FAFSA). The FAFSA may be filed starting on January 1. The FAFSA is used to apply for student financial aid from the federal and state governments and from most colleges and universities for the award year that runs from July 1 to June 30. ...
    Published about 3 years ago | Rated: +5
  • +8

    Year in Review: Ups and Downs for Student Financial Aid in 2011

    2011 was an eventful year for student financial aid, student loans and scholarships. This article summarizes the major events, positive and negative, for student aid in 2011. It also provides a few highlights of developments that are anticipated for 2012. The Department of Defense and Full-Year Continuing Appropriations Act, 2011 (P.L. 112-10, April 15, 2011) ended the year-round Pell Grant program ...
    Published about 3 years ago | Rated: +8
  • +6

    Can a Student Receive a Pell Grant for a Second College Degree?

    I am a 25-year-old woman looking to go back to school for a second degree in a different field of study than my original degree. I am married to an enlisted sailor and currently unemployed. For my first degree I did not fill out the FAFSA and therefore I did not receive any federal aid in the form of grants or ...
    Published over 2 years ago | Rated: +6
  • +11

    Dealing with the Debt Deal and Downgrade: Practical Tips for Students and their Families

    Title: Dealing with the Debt Deal and Downgrade: Practical Tips for Students and their Families Standard & Poor's (S&P) downgraded US long-term debt one notch from AAA to AA+ after the stock market closed on Friday, August 5, 2011. This is the first time the United States has lost its AAA rating. The downgrade triggered a panic sell-off when the ...
    Published over 3 years ago | Rated: +11
  • +6

    When Does Repayment Begin on a Subsidized Loan?

    When does a student have to start paying back a subsidized loan? — A.A. If the loan is a subsidized Stafford loan, repayment begins 6 months after graduating from college or dropping below half-time enrollment status. If the loan is a Perkins loan, repayment begins 9 months after graduating from college or dropping below half-time enrollment status. The 6 or 9 ...
    Published over 3 years ago | Rated: +6
  • +8

    How Do Grandparent-Owned 529 College Savings Plans Affect Financial Aid Eligibility?

    How Do Grandparent-Owned 529 College Savings Plans Affect Financial Aid Eligibility?
    Only 529 college savings plans that are owned by the student or the student's parents are reported as assets on the Free Application for Federal Student Aid (FAFSA). So a 529 plan owned by a grandparent or other third party will not be reported as an asset on the FAFSA. However, qualified distributions from such a 529 plan are treated as ...
    Published about 3 years ago | Rated: +8
  • +6

    Family Incorrectly Reported 529 Plan as a Student Asset on the FAFSA

    I have two questions which I assume you've been asked a million times and I just want to make sure I'm understanding the write-ups about them correctly. We have a regular UGMA/UTMA savings account for our daughter where we are the custodian. In the FAFSA application, should this be entered under the student or the parent? Am I assuming correctly that ...
    Published about 3 years ago | Rated: +6
  • +13

    How Do You Calculate Individual Income From a Joint Return for the FAFSA When the Parents Are Separated?

    In your answer to How Does Income Tax Filing Status Affect Student Aid?, you address the question of which parent is responsible for completing the FAFSA. However, I'm very curious as to how the filing status of separated parents affects how the FAFSA is processed, once the primary/custodial parent has completed it. That is, is it more advantageous for separated parents ...
    Published about 4 years ago | Rated: +13
  • -1

    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 to 8 and in the House by a vote of 257 to 167. President Obama is expected to sign the legislation into law. This legislation addresses some aspects of the ...
    Published about 2 years ago | Rated: -1
  • +6

    Can a Student Receive Both Need-Based Grants and Merit-Based Scholarships?

    If a child does receive FAFSA can they still receive scholarships and grants? — Y.P. The Free Application for Federal Student Aid (FAFSA) is used to apply for need-based financial aid from the federal government, state governments and most colleges. The financial aid will include a mix of grants, loans and student employment. The terms grants and scholarships are often used ...
    Published almost 3 years ago | Rated: +6
  • +9

    Free Money for College Savings

    There are a variety of national, state and local programs that encourage families to save for college by providing families with free money. There are two main types of such programs: 1. Birthday Present. Such programs provide contributions of $100 to $1,000 as seed money in the college savings plan when the parents open a new 529 college savings plan before ...
    Published about 4 years ago | Rated: +9
  • +6

    Repayment Begins for Students Who Graduated in May and June

    Students who graduated in May or June are nearing the end of the six-month grace period. The first monthly loan payment is usually due in November or December. Don't Be Delinquent Unfortunately, about a third of borrowers are late with the first payment on their federal student loans. This is called a delinquency. There are a variety of reasons why students ...
    Published over 3 years ago | Rated: +6
  • +24

    Trick or Treat: President Obama's Plan for Cutting Federal Student Loan Payments

    Income-based Repayment Who: 1.6 million borrowers since 2008 with at least one loan in 2012 or later, generally borrowers whose total federal student loans exceeds their annual income What: Reduces cap on monthly loan payments by a third, from 15% of discretionary income to 10%, and forgives the remaining debt in 20 years instead of 25 When: Starts in 2012 ...
    Published over 3 years ago | Rated: +24
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