4 mistakes families make that increase the cost of college

While the rising cost is certainly a factor, it is often the decisions that families themselves make that cause them to unnecessarily pay more for college than they should (and potentially increase student debt). As hard as it might be, there are instances where a family needs to recognize a college-related decision will cost them…

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3 things to consider before making your college decision

  May 1 is National College Decision Day, the deadline for students to make deposits to attend the college of their choice. But before you send in that check, here are three important things to consider:   1. Affordability is part of fit   Many students choose their college based on academic and social fit…

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Understanding the College Financial Aid Award Letter

  College Inside Track’s Cozy Wittman was featured in the Journal of Financial Planning, discussing ways to create transparency for families in the college funding process and better understanding the college financial aid award letter. Cozy explains in detail the college financial aid award letter, tips after receiving it, elements of good and bad letters…

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FAFSA changes

FAFSA changes passed by Congress

  The COVID relief bill passed at the end of 2020 also included some significant changes to the FAFSA. The changes go into effect for the 2024-25 school year. The FAFSA for that school year opens on October 1, 2023 and will use tax information from 2022. And because the FAFSA is completed each year…

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529 Plan Funds can be rolled over into Roth IRAs

man celebrating

By Heidi King, College Inside Track   Tucked into the year-end federal spending package was a new provision allowing 529 Plan funds to be rolled over into Roth IRAs tax and penalty free. This significant change takes effect in 2024. Here are the key details:   The benefit is for 529 plan beneficiaries (as opposed…

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Financial Aid Formula Changes

income protection allowance rising

  The FAFSA formula that determines how much financial aid a family will qualify for is undergoing two behind-the-scenes financial aid formula changes for the 2023-24 school year.  These changes are in addition to the massive changes happening for the 2024-25 school year for families with multiple children in college, grandparents, etc. First, the good…

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FAFSA changes for financial advisors

  Check out the following video from College Inside Track President Chris Wills providing a helpful overview of the new changes to the FAFSA that financial advisors need to know about, as they will require new planning strategies for many clients

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Scholarship reduction – The dirty little college secret

Would you ever consider a scenario where the scholarships your student won actually resulted in a scholarship reduction elsewhere? One of the students we work with, whom we’ll call Caitlyn, was a dream that every parent (and counselor) hopes for: kind, bright, studious and incredibly engaged in the college process. In addition to having nearly…

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