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  • +34

    The “Free” Tuition Experiment

    The “Free” Tuition Experiment
    No matter where you attend college today, costs have skyrocketed, leaving students with the impending doom of student debt for years to come. Meanwhile, public funding for education has been declining to the point of nonexistence, as far as many students are concerned. So, what can be done to combat the issue? It seems as though many are considering the recent ...
    Published about 2 years ago | Rated: +34
  • +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
  • +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

    Some Scholarship Sponsors Review the Online Presence of Finalists When Selecting Winners

    Some Scholarship Sponsors Review the Online Presence of Finalists When Selecting Winners
    Your Facebook profile may cause you to lose a scholarship. It can also help you win a scholarship. According to a recent survey of scholarship-granting organizations, about a quarter of scholarship providers evaluate the online presence of finalists before selecting which students will win scholarships. These scholarship sponsors use web search sites like Google and social media web sites like Facebook, ...
    Published over 3 years ago | Rated: +11
  • +6

    Does Consolidating Student Loans Save Money Like a Refinance?

    I have a question concerning consolidating my federal loans. I have some that are subsidized and some that are unsubsidized. Can I combine these at a lower interest rate? I have graduated from college and will soon be starting to pay back my loans. My unsubsidized loans are at 6.8% and subsidized are at 5.5%. I also have many DEAL loans, ...
    Published over 4 years ago | Rated: +6
  • +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 over 3 years ago | Rated: +5
  • +21

    Are You a College Drop-Out Risk?

    Are You a College Drop-Out Risk?
    Yep, it happened. Congress couldn't get their act together, so now you’re going to have to pay more. But, before you borrow, make sure it will pay off in the future. What do we mean by this? Investing in your education is a good thing; it’s even often referred to as “good” debt. As long as you get a degree to ...
    Published over 2 years ago | Rated: +21
  • +7

    Impact of Tax Filing Status on Income-Based Repayment for Married Borrowers

    We married in January of last year, after my husband graduated with a Master's degree in December. His loans total $65,000 and he earned $20,000 last year. I graduated in May with a doctorate in physical therapy and $175,000 in debt. My income last year was $33,000. Our combined AGI was $53,000. For our federal loans we want income-based repayment. But ...
    Published over 3 years ago | Rated: +7
  • +24

    Is an Emancipated Child Considered an Independent Student?

    I am a single parent of three children. One is a junior in college, the middle child will be attending college next year. I have always completed the FAFSA for my oldest daughter, claiming her as my dependent. Her father and and I have split the cost of out-of-pocket expenses. This past year, however, her father took me back to court ...
    Published over 4 years ago | Rated: +24
  • +20

    Tuition and Fees Deduction

    The Tuition and Fees Deduction allows taxpayers to deduct up to $4,000 in tuition expenses as an above-the-line exclusion from income. This tax benefit is also known as the Limited Deduction for Tuition Expenses or as the Torricelli Deduction. This deduction may be taken even if the taxpayer does not itemize. The deduction is currently set to expire at the end ...
    Published over 6 years ago | Rated: +20
  • +28

    Congress Proposes Allowing Private Student Loans to be Discharged in Bankruptcy

    Congress Proposes Allowing Private Student Loans to be Discharged in Bankruptcy
    Congress is proposing to allow borrowers to discharge private student loans in bankruptcy. Under current law, education loans are not dischargeable in bankruptcy except in extreme circumstances. The US Bankruptcy Code at 11 USC 523(a)(8) requires borrowers who want to get a bankruptcy discharge for their student loans to demonstrate in an adversary proceeding that repaying their student loans "would impose ...
    Published over 5 years ago | Rated: +28
  • +7

    Options for a Student Whose Parents Refuse to Complete the FAFSA

    I have been financially independent from my parents since I was 19. I'm 23 now. I've been working two jobs and taking 12 hours in school. My school says that I cannot file a FAFSA without my parents' information. My parents will not give me their tax information or even fill it out online. I don't have the stamina to work ...
    Published over 5 years ago | Rated: +7
  • +3

    Should Married Borrowers File Joint or Separate Federal Income Tax Returns with Income-Based Repayment?

    I have a question about a joint consolidation loan and income-based repayment (IBR). My wife and I consolidated our loans jointly about 10 years ago (when such things were allowed). My name is at the top of the loan. My wife and I both individually had about $70,000 in loans and our joint loan was $140,000. It is currently at about ...
    Published almost 3 years ago | Rated: +3
  • +1

    What Income is Listed on the FAFSA when Separated Parents File a Joint Tax Return?

    I am praying that you may be able to advise me on the FAFSA application. I am a senior in high school and will file the FAFSA in January. I live with my mom. My dad moved out almost 2 years ago. As part of my parents' agreement, my dad is paying for our rent and utilities. My mom and dad ...
    Published almost 3 years ago | Rated: +1
  • -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 almost 3 years ago | Rated: -1
  • +9

    Financial Aid without Filing the FAFSA?

    Financial Aid without Filing the FAFSA?
    I tried to apply for federal student aid last year, and was told that I needed to include my parents tax information to receive aid. I've been living on my own since I was 17, claim myself on my taxes, and support myself with the help of my fiance. I can't afford to go to school without financial aid, and my ...
    Published almost 5 years ago | Rated: +9
  • +12

    Should I Work My Way Through College or Quit My Job to Enroll Full-Time?

    I am 26 and looking to start attending school full time this fall. I am also taking some summer classes at a community college to get all the credits I can before starting. I am also a transfer student with 37 credits from another school I went to right out of high school. I am currently married and am considering quitting ...
    Published over 4 years ago | Rated: +12
  • +8

    Help for Retired Parents Repaying Parent PLUS Loans on Fixed Income

    Help!!! My Parent PLUS loans are presently in a forbearance that will end in a few months. My expected installment payments are more than my monthly income. I am retired and my husband is on disability retirement. We have another son presently attending college. What options are available to me (if any)? Do I ask for an extended repayment, or continue ...
    Published about 5 years ago | Rated: +8
  • +13

    How Do Parent Financial Problems Affect a Student's Eligibility for Financial Aid?

    We the parents screwed up financially and had to file for bankruptcy and are in a Chapter 13 repayment program. The FAFSA thinks according to their estimator that we can afford to pay $10,000 a year (parent contribution) but there is no way. There is no provision for us to show that $1,500 a month goes to courts. (That's $18,000 a ...
    Published almost 5 years ago | Rated: +13
  • +13

    If I Stop Paying My Student Loans, Will the Default Yield a Reasonable Settlement?

    I would like to know what will happen if I stop paying my student loans. I have never been unemployed and don't plan to be, but my loan payments are over $700 a month and that is unreasonable (that's over half of my monthly salary). I have tried three different jobs since graduating in the hopes of making more money, but ...
    Published about 4 years ago | Rated: +13