My husband took early retirement so we are on a fixed income. We set aside enough money in various college funds for our daughter to attend any in-state public college. However, she is interested in an out-of-state private college that costs approximately double what we have saved. We are researching scholarship opportunities but wonder how the fact that we are retired ...

Sallie Mae and Gallup just released the results of their third annual survey of how American families pay for college. The survey found that families perceived college costs as increasing by more than 17% compared with last year. As a result, families are becoming more cost conscious in their college choices. Family estimates of the total cost of attendance increased 17% ...

I'm having problems with my financial aid. I'm a single mother of one. My daughter is almost three years old and will be attending daycare this semester. I've been going to college for two years and will receive my associates degree soon with a cumulative GPA of 3.7. I will continue my education at another college this fall, and again I'm ...

I live with my mother and my brothers. My mother is undocumented and does not work. However, I am a permanent resident and my brothers were born here in the United States. We are receiving help from welfare as food stamps and cash for needy families. We are also living in a shelter. My question is: What kind of financial aid ...

I am hoping you can help me with my FAFSA issue. I am 16 and a senior this year in high school, so I plan on attending a university in the fall. However, my dream college is a private university and is extremely expensive. My parents refuse to help pay a dime towards furthering my education — they believe college isn't ...

I'm confused as to how to treat a prepaid tuition plan when applying for financial aid. I'm an independent student but I have a small prepaid tuition account which is held by a parent as account owner with me as the beneficiary. Since I don't list parent assets when filling out the FAFSA, do I need to list the prepaid tuition ...

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, ...

I filled out the FAFSA in March and recently received a letter that offered me a $3,500 unsubsidized Stafford loan. I did a little research and found out I would have to pay interest on interest. I'm thinking about declining it and mailing it back to the school I attend. Will I be offered any other financial aid or is this ...

On the FAFSA we listed the value of all three of our children's 529 plan accounts, not just our oldest son's 529 plan. There was no way to differentiate the amounts among the three children. Can we change this and enter only the amount of the oldest son's account since we won't be using the other two children's accounts to pay ...

I am a college student with a severe congenital physical disability. If I apply for and am granted SSI benefits, will receiving these benefits cause my family's EFC to increase? I am not employed and am a full-time student, living in my parents' home. Would we end up paying more for my college expenses if I were to receive SSI benefits? ...

Each of my parents left me a trust. From each trust I am entitled to the interest income and $5,000 annually. The remainder of the principal stays in the trusts until I die. The trusts then terminate, and the remaining principal is distributed to my son. My son is the one going to college, by the way. This skews my EFC ...

I am in kind of a bad situation. I had a bit of personal problems and had to move out of my house and no longer live with my parents. Unfortunately they will no longer pay for any of my schooling. I previously filled out the FAFSA and did not qualify because my parents made too much money. However, because I ...

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 ...

Grandma is moving in with her Social Security check. Does this help or hurt my FAFSA results? Does her Social Security check count towards my parents' income on the FAFSA? — Doreen Y. The answer is complicated and depends on whether Grandma receives the Social Security benefits in her own name or whether they are received by your parents on her ...

We are a family of 4 with gross income of about $58,000. With IRA and 401(k) contributions and pretax health care deductions our AGI is about $47,000. Would it benefit us as far as financial aid grants go to max out on our retirement accounts and knock our family AGI down to about $30,000 or less? Or do the aid people ...

If you have already graduated from college, will you be affected by the new changes to student loans in the health care bill? — Lauren A. No. None of the changes enacted by the Health Care and Education Reconciliation Act of 2010 will affect students who have already graduated. Starting July 1, 2010, all new federal education loans will be made ...

I am completing the FAFSA for my son and daughter. My Mom is elderly and has put my name as secondary on her accounts. Do I have to report the money in those accounts as my assets on the FAFSA? It doesn't seem fair if I do, because the money is not mine to use. — Chris S. Grandparents sometimes transfer ...

My sister is in college and she applied for financial aid so my dad already has a pin. Should I create a new pin or use the same one? — Perla C. A PIN is used to sign the Free Application for Federal Student Aid (FAFSA) electronically. Each person signing the form must have their own PIN. Your father can use ...

The US House of Representatives approved the student loan and health care reform legislation on Sunday night, March 21, 2010, by a vote of 220 to 211. No Republicans voted in favor of the legislation. The US Senate is expected to pass the legislation within about a week. The student loan bill will end the federally-guaranteed student loan program, where banks ...

I am a single mom and my son will be entering his freshman year in college this fall. The FAFSA application asks for the gross income from last year's tax return. My W-2 total includes not only my salary but also stock grants that were given to me by my employer. This total in no way reflects the amount I lived ...