Financial Aid >> Browse Articles

Browse Expert Financial Aid Advice Articles

  • +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
  • +3

    Why Do We Owe the College Money After the Student Dropped Out?

    My son was awarded an amount from FAFSA and also money from the LIFE and Pell grants. We paid the remainder of his tuition out of pocket. He started his freshman year and started having some medical issues. He withdrew from school during the second drop period. The university sent us a letter explaining how this money was sent back to ...
    Published over 3 years ago | Rated: +3
  • +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 6 months ago | Rated: +11
  • +1

    Paying for Tuition with a Credit Card or an Unsubsidized Stafford Loan

    I am a graduate school student at a university where subsidized loans are no longer an option. Only unsubsidized. I am now faced with a decision: which would be a better option for me to use to pay for my tuition this fall, taking out unsubsidized loans or putting it on my credit card (9.9% interest)? — B.R. Subsidized Stafford loans ...
    Published over 2 years ago | Rated: +1
  • +8

    Why Do Some Merit-Based Scholarships Require the FAFSA?

    I am a 38-year-old student who returned to junior college after being laid off and being unable to find a comparable job. Because I was a "good saver" in my 20's, I was able to do this while only working part-time. Approximately 60% of my expenses are paid with my savings. I am ready to transfer into a 4-year institution. However, ...
    Published almost 5 years ago | Rated: +8
  • +30

    Money Saving Advice for College Students

    Money Saving Advice for College Students
    Saving money as a college student is critical. The more you save, the better off you'll be. And, while plenty of expenses arise, there are also plenty of overlooked opportunities for students to save. Don't allow yourself to overlook these opportunities! If there's ever a time to live frugally, college is it. You're currently in a very unique situation where frugality ...
    Published 8 months ago | Rated: +30
  • +9

    Pay Down Mortgage or Contribute to Son's 529?

    I just sold my house and moved in with my new husband. We have three children between us (two are his) and are looking for a bigger house. Would it make sense to save the $30,000 from the house sale in my son's 529 college savings plan account (he is 13 now), or use this money to buy a house and ...
    Published over 5 years ago | Rated: +9
  • +6

    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 financials are not available to us. How do we handle completing the FAFSA and applying for scholarships, etc.? I am more than willing to provide our information if that is ...
    Published over 2 years ago | Rated: +6
  • +15

    Student Debt Guide: Saving and Investing Money

    Student Debt Guide: Saving and Investing Money
    Nobody ever said being an adult was easy and knowing how to save and invest properly is not exception to the rule. But, who better to advise you on saving and investing money than Mark Kantrowitz, a nationally recognized finance guru? Here are tips, right from the expert, on how to save and invest like a pro. [gate] • Save for ...
    Published over 2 years ago | Rated: +15
  • +3

    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 York state specific with the response. — T.G. A life estate involves an irrevocable grant of a future interest in a property while reserving a present interest in the property. ...
    Published about 2 years ago | Rated: +3
  • +17

    Choose a Cheaper In-State Public College to Cut College Costs

    I am a 17-year-old high school senior applying to colleges. I wish to apply to certain private institutions where the tuition is over 45K. I am doing my best applying for scholarships, but have not heard back from anyone yet. I do not think that my parents qualify for financial aid, they are upper middle class earners. They cannot afford to ...
    Published over 4 years ago | Rated: +17
  • +6

    To Convert or Not To Convert; How Does a Roth IRA Conversion Affect Student Aid?

    I am retired with no income from employment and a moderate amount of investment income, $20,000 to $30,000 a year. I am contemplating a partial conversion from my traditional IRA to a Roth IRA. Such conversion is included in my adjusted gross income, but is not really spendable income to support my son's education. If I make such a conversion, would ...
    Published over 3 years ago | Rated: +6
  • +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
  • +5

    Which Student Loans are the Best Ones to Borrow?

    I'm a first year and I'm searching for student loans with my mom and I'm not sure which one is the best one I should take out. Do you have any suggestions? — Joanna P. When comparing student loans, consider both the cost of the loan and the other benefits of the loan program. The cost of a loan is based ...
    Published almost 3 years ago | Rated: +5
  • +4

    Must a Trust Fund be Reported on the FAFSA Even If Access to the Trust is Restricted?

    I have a friend whose mother passed away two years ago, and left her some money from an insurance policy. The money is currently in trust for her with her grandmother as the trustee. Does she need to claim this as an asset on her FAFSA? She is unable to touch it until she turns 21. — Karen A. In most ...
    Published over 2 years ago | Rated: +4
  • +3

    Will Differences in Parent Assets Due to the Omission Sibling-Owned Custodial 529 Plan Accounts Cause Problems on the FAFSA?

    Since siblings' UTMA 529s don't get reported on the FAFSA, but the student's UTMA 529 is counted as a parent asset, each of my kids would have a different amount listed on the FAFSA as parent assets. The amounts would be vastly different because most of my son's money will have been used by the time my youngest starts college. We'll ...
    Published over 3 years ago | Rated: +3
  • +12

    Do Twins Get More Aid? If a Student Gets Married, Does the Financial Aid Change?

    My boyfriend and I are afraid that if we marry my annual gross income ($47,000) will prevent him from getting federal grants and loans for college. He has no income at all. He is disabled but was denied disability when he applied. We don't mind waiting if it would be better to wait. — Sarah K. Your fears are justified. When ...
    Published over 4 years ago | Rated: +12
  • +7

    Is a Student with Children But No Income Considered to be Independent?

    I am under 24 years of age. I did not have any income the year before last. I have 2 children and live with a partner of 6 years. He is the father of my children. We are not married. He supported us on his income; my mother did not. I was a stay at home mom. My school is telling ...
    Published about 3 years ago | Rated: +7
  • +5

    Is There Any Way to Shelter Retirement Plan Distributions on the FAFSA?

    My question is simple: is there a way to withdraw money from my 401(K), at age 59 1/2, that will not be counted as income for FAFSA purposes? Although I receive an annual pension of $34,500, I fall short by about $20,000 to meet my annual expenses. Should I withdraw what I need for next year this year, so it doesn't ...
    Published almost 3 years ago | Rated: +5
  • +7

    Ask for a Professional Judgment Review for Job Loss or Other Changes in Income

    I lost my teaching job last June and got a half year's salary instead of a full year. I did not get a job in the fall, so our household income was operating on half of my income. My husband's work status is the same, so we are at three-quarters. This year I do not have a job. Is there any ...
    Published over 4 years ago | Rated: +7
Join Fastweb for FREE