Posts by Chris Wills
FAFSA changes
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…
Read More529 Plan Funds can be rolled over into Roth IRAs
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…
Read MoreNew bill allows unused 529 college funds to become a retirement tool
College Inside Track’s Heidi King was featured on Yahoo Finance discussing new rules allowing 529 Plan funds to roll over into Roth IRAs tax and penalty free. Beneficiaries of 529 plans can begin to take advantage of the changes in 2024.
Read MoreThis 529 savings plan myth is making college pricier for families
College Inside Track’s Cozy Wittman was featured on CNBC discussing the myth that families are penalized for saving for college, changes to grandparent contributions and evaluating colleges based on their pricing model. View the article here.
Read MoreFinancial Aid Formula Changes
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…
Read MoreFAFSA 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
Read MoreInsider tips for the week of May 30, 2022
ACT/SAT outlook – Bruce Reed of Compass Education Group shares his thoughts on how standardized tests will be used by colleges moving forward. He expects testing opportunities will rebound and while many schools are continuing policies and trials as test optional, having a test score when applying to more selective colleges may be an…
Read MoreInsider tips for the week of May 2, 2022
Top tips for AP success – The folks at Compass Education Group have put together a handy one-stop resource with information about AP exams and prep, as well as an examination of the role APs play in college admission. 3 things to do now for strong HS recommendation letters – Students have experienced…
Read MoreInsider tips for the week of April 4, 2022
Finding meaningful summer activities – Summer is a golden opportunity for students to contribute to the story of who they are, what they value, and how they are engaging their passions, interests & dedication in meaningful ways. CIT Consultant Paige Feldman proposes thinking about what values a student wants to bring forward with the…
Read More5 things every family should know about their expected family contribution (EFC)
You fill out the FAFSA, which gives you your expected family contribution (EFC), which is how much your family will pay for college. Seems simple right? Ah, but like most things with the college process, that is unfortunately not the case. Here are 5 things every family should know about that EFC. 1 Your EFC…
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