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  • +6

    New Husband Refuses to Help with College Costs

    I have been a single mother raising twin daughters pretty much all their life but recently (2 years ago) remarried a fairly successful man who has from day one said he will not contribute to their education. He provides absolutely NO support for the girls, I pay their tuition and everything else they need all on my own. My daughters are ...
    Published over 2 years ago | Rated: +6
  • +4

    Answers to Common Questions about Dependency Status and Financial Aid

    Will my daughter's chances for receiving financial aid be higher if we don't claim her on our taxes? Household income is about $85,000 and she did not qualify for financial aid through the FAFSA. She is in a community college and is 20 years old. She recently moved out of our home but we are paying her college tuition. She has ...
    Published over 2 years ago | Rated: +4
  • +14

    How Do I Become Independent on the FAFSA If I Am Under Age 24?

    If my son applies for public assistance and does his own financial aid, will he be able to apply as independent next year? In addition, (assuming he's able to) would I be able to claim him on my income tax returns this year? He is 19 years old. My goal is to get him as much financial aid as possible. I ...
    Published almost 3 years ago | Rated: +14
  • +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 almost 3 years ago | Rated: +12
  • +14

    How Does a Parent Enrolling in College Affect the Child's Financial Aid?

    My daughter is hoping to attend a private college next year. Of course, we will be applying for financial aid and as many scholarships as we can find! My husband works full time and I have always worked full time. In late February, I was temporarily laid off from my job. I should be returning to work on a part-time basis ...
    Published almost 3 years ago | Rated: +14
  • +3

    Quick Answers to Common Questions about Financial Aid

    Financial aid is an inherently complicated topic. Sometimes students and parents have questions that may seem obvious to people who have more experience with financial aid. But they can't find the answers they need. This week's Ask Kantro column addresses several such questions. Hi. I was wondering how or where you can apply for the federal supplemental educational opportunity grant. I ...
    Published about 1 year ago | Rated: +3
  • +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 3 years ago | Rated: +5
  • +7

    Does Adoption Affect an Orphan's Eligibility for Financial Aid?

    I am trying to advise two students whose mother died four years ago and their father died last week, unfortunately. The girls' grandmother is now taking care of them (a 9th and 10th grader) and we are concerned about the possible college financial ramifications. They are in the process of determining the Social Security benefits from their father's contributions. Once that ...
    Published 12 months ago | Rated: +7
  • +9

    Why Do Financial Aid Application Forms Use Last Year's Income?

    Why do the government and colleges use last year's income to determine financial aid for the current year? Our financial situation has changed, my husband was laid off last year but our FAFSA looks okay because of his severance pay. We need financial aid help in order to help our daughter who wants to attend college in the fall. How can ...
    Published 12 months ago | Rated: +9
  • +22

    FAFSA Updated to Accommodate Same-Sex Parentage

    FAFSA Updated to Accommodate Same-Sex Parentage
    Progression has reached federal student aid as news that the FAFSA form will now recognize parents that are also same-sex couples. Currently, the Free Application for Federal Student Aid referred to “mother/stepmother” and “father/stepfather” in reference to obtaining information about an applicant’s parents. As a result, applicants with same-sex parents had no choice but to either choose to classify parents at ...
    Published 11 months ago | Rated: +22
  • +7

    Advice to Parents Whose Child will be the First in the Family to Go to College

    My wife and I are looking for help in getting our son into college. He is a junior in high school. His mother and I are on disability. My wife is fighting stage four breast cancer. I was hurt at work two years ago. We would like to see our son go to college but there is no way we would ...
    Published about 2 years ago | Rated: +7
  • +4

    Should a Family Sell Student-Owned Stocks to Get More Financial Aid?

    I have two daughters. One is a junior in college. The other is a senior in high school who will be going to college this fall. They both have stocks given to them by my parents years ago, from which they get quarterly dividends of around $140 each. Every year on the FAFSA I have to put the current value of ...
    Published about 2 years ago | Rated: +4
  • +3

    Should Wealthy Parents Cut Family Income Tenfold to Help their Children Qualify for Need-Based Student Financial Aid?

    My wife and I make about $150,000 in combined income. We have probably $350,000 in home equity, $100,000 in rental property equity and $500,000 in retirement accounts. We have three kids in college and a fourth starting in the fall a year from now. We hope to quit our jobs at some point and move to Nicaragua (or another Central American ...
    Published about 2 years ago | Rated: +3
  • +5

    What Documentation can a College Financial Aid Administrator Request?

    I'm an independent student who filed a 1040A last year so I was not required to answer questions about assets on the FAFSA application. I had very little income last year and have a zero EFC. I reported taxes on capital gains and now my school is asking for information about my investment assets (which are about $40,000). Can they use ...
    Published over 1 year ago | Rated: +5
  • +6

    Does the Cash from a Cash-Out Refinance Count as an Asset on the FAFSA?

    My daughter is a high school junior. I have just refinanced with cash out for a home remodel to accommodate my aging parents. However the remodel is delayed and the money is still in our account. The remodel should be completed and the money spent by the time my daughter starts her senior year. Will this money be counted as asset ...
    Published over 1 year ago | Rated: +6
  • +7

    Year-End Financial Aid Moves

    As the year draws to a close, there are several steps families can take to get more need-based and merit-based financial aid. Prepay Next Year's Tuition Taxpayers can claim one of two education tax credits based on amounts paid for qualified higher education expenses, such as tuition and fees. These are the American Opportunity Tax Credit (AOTC) and the Lifetime Learning ...
    Published over 1 year ago | Rated: +7
  • +5

    Why is Parental Information Required on the FAFSA for a Self-Sufficient Student?

    Why do we have to file the FAFSA when my daughter supports herself? My daughter has not lived with me or my husband for a year and a half while she’s been attending college. We do not support her financially, we do not pay for her education nor do we even send her money. She is completely self-sufficient, a fact of ...
    Published over 1 year ago | Rated: +5
  • +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 2 years ago | Rated: +5
  • +5

    What Do You Do If Your Application for a FAFSA PIN is Rejected?

    If you get an email message that says "Your request for a Federal Student Aid PIN cannot be processed because the Social Security Number (SSN), name, or date of birth that you provided on your PIN application does not match your information on file at the Social Security Administration (SSA)... If you are sure that the SSN, name, and date of ...
    Published over 2 years ago | Rated: +5
  • +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 2 years ago | Rated: +6