For families looking into financial aid options for their students. Financing college and university tuition is a huge challege - share tips and advice with families in a similar spot.
A special thanks to Chuck Moore from the College Literacy Academy for providing this important update.
Updated Rules for Appealing for Financial Aid
The US Department of Education just issued a new “Dear Colleague Letter”, which in financial aid industry jargon is usually a regulatory change or a change in how regulations and laws are supposed to be interpreted. In the April 2, 2009 Dear Colleague Letter, the Department of Education has offered additional flexibility to financial aid... Read Full Story
We are providing online scholarship programs and online scholarship information to help those students who want to learn more about college scholarships , Corporate scholarship, Academic scholarship, Departmental scholarship, and scholarship organization and much more. Academic scholarship: A student is entitled to get this scholarship only when he or she has outstanding academic record. Athletic scholarship: Sports persons, who have performed well, are awarded athletic scholarships for... Read Full Story
“UNPAID COLLEGE TUITION BILLS RISE, SURVEY FINDS”
By Kim Clark, U.S. News and World Report
Colleges and universities are seeing more students unable to pay their second-semester bills and in danger of being forced to drop out, according to a survey by the American Association of Collegiate Registrars and Admissions Officers. More than 65 percent of the 43 college registrars who responded to an association-wide E-mail survey said that they had noticed an increase in unpaid bills... Read Full Story
There are a number of new benefits (2006) available for families paying college tuition fees that you should take advantage of:
1. Withdrawals from qualified state tuition programs (529’s) are now tax-free. You also have more control over these plans because now instead of having to both transfer funds to a different plan and change the beneficiary if you want to avoid tax penalties, you can now simply switch plans penalty-free once per year.
2. Coverdell ESA’s http://en.wikipedia... Read Full Story
We recently helped a couple fill out their FAFSA with the information from their 2007 tax return in order to have it in and completed on time. Since you have to use estimates to complete the form the first time around, you have to go back and make changes when you receive your SAR. See What To Do After You Fill Out The FAFSA (Part 2) http://dreamstrategy.com/blog/?p=23 .
But what if a parent loses a job in 2008 and their income is significantly altered? This is what happened with this... Read Full Story
You had to estimate your income and tax information when you originally filled out your FAFSA, so you will have to revise or update your info as soon as you have your taxes done. Most people have everything they need by the beginning of February, so don’t wait until April. If you wait it could hurt your chances for financial aid. Once you have updated your information, you need to correct your SAR.
On Part 2, where it says: You Told Us:/ The Correct Answer Is:
Look for the questions... Read Full Story
February is already half over! Time really flies after the New Year… before you know it, you or your kids we be going to college. Hopefully you got the best Financial Aid package possible. I wanted to provide some important links today, as February is a very important month in the Financial Aid world. Many schools are at the end of FAFSA submission, so you better check with the schools you are applying to. If you didn’t take my advice and you waited until now… you’re at the end of the... Read Full Story
The other day we brought in a couple who was divorced and looking for help in funding their son’s education. Neither really had much financially and it was going to be difficult for them to fund a college education and it was going to be even worse based on the EFC they came up with. In the end we SAVED THEM about $70,000 in loans they were going to have to take out based on filling out the FAFSA incorrectly and not having the correct EFC (Expected Family Contribution) for their situation... Read Full Story
Most of our clients come to our office with one main question… How do we pay for college? When we ask if they have a financial planner, many say yes. We then ask what his or her strategy is for this question, they ALWAYS say “We don’t know, they haven’t given us any advice except for 529 plans and EE Bonds. The problem is, most financial planners have no idea how your non-qualified investments will effect your ability to receive financial aid, nor do they understand how these investments... Read Full Story
