Paying for College

Beware – Retirement savings rollover issue on FAFSA

There is a FAFSA issue that has been tripping up families with qualified retirement savings rollovers that can result in wildly inflated EFC’s (expected family contributions), thus reducing the amount of financial aid they qualify for. Retirement savings moved from one qualified retirement plan to another qualified plan should not be reported as untaxed income…

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Why is my EFC going up?

Talk about a double whammy! Despite the rising cost of college, families are at the same time seeing an increase in their EFC (expected family contribution), which is what they are expected to contribute before any financial aid kicks in. In other words, a family with the exact same income and assets today as one…

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Insider tips for the week of Nov. 26, 2018

5 tips to pay less for college – A great read worth a couple minutes from Jeanmarie Keller. I especially like #4 – build your list of colleges based on your situation and the college’s financial aid policies. Just because you need financial aid doesn’t mean the college has to give it to you.  …

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Top strategies to help grandchildren with college

With the holiday season approaching, there is a terrific way grandparents may want to consider spoiling their grandchildren. Today’s retirees have accumulated wealth at unprecedented levels and combined with the rising cost of college, many now are taking advantage of an opportunity to provide a legacy of education to their grandchildren. However, without understanding the proper…

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Tips on the 6 trickiest FAFSA questions

The FAFSA is a quintessential government form, meaning it isn’t always as easy to understand as it should be. And with over 100 questions to navigate, far too many families make mistakes that are unnecessarily costing them money. Money Magazine compiled the following tips on how to tackle the 6 trickiest questions:   Questions 24…

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The 5 Myths of College Costs

  How many purchases in life would you spend hours or even days on without knowing the cost? Imagine looking at homes or vehicles and obsessing over their details to find the right one, only to then be told the seller would get back to you on the price that they were customizing only to…

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Insider tips for the week of July 30, 2018

6 tips for managing your EFC – Your EFC, or expected family contribution, is a number used by colleges to determine how much financial aid you will receive and a topic most families know little about. Invest a few minutes to read Road2College’s helpful tips to potentially save your family money.     5 strategies…

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Federal student loan rates go up for 2018-19 school year

For families that take out federal student loans, college just got a bit more expensive for the second year in a row. Starting July 1, 2018, federal loan interest rates are going up for loans taken out to pay for the 2018-19 academic year:   Undergrads will pay a rate of 5.04%, up from the current…

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Insider tips for the week of May 28, 2018

15 things to know about college rankings – Lynn O’Shaughnessy does a nice job of explaining “how the sausage is made” with the popular US News college rankings, and it isn’t pretty. A must-read if you are at all using rankings in your search, and remember there is no such thing as a best ranked…

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Insider tips for the week of April 30, 2018

10 ways for parents to get on top of the college process – A must-read for parents of college-bound students from the Washington Post. My favorites: 1) Become a mentor as much as a parent and 2) Expect your student to take advice from others that he or she won’t take from you.   23…

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