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5-MYTHS

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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…

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…

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.  …

Insider tips for grandparents

CIT’s Chris Wills was a featured guest on the Accredited Investors Wealth Management WiseLife Speaker Series. Chis Wills joined Accredited’s Jeremy Heckman and discussed all aspects of the education planning journey, examining not only the current details of college planning – including myths about financial aid and insights into cost reduction tactics – but also…

Insider tips for the week of Oct. 22, 2018

5 things parents need to know about prepping for the SAT or ACT – Grown and Flown has a helpful article covering both what you should know about standardized tests and how to find the best test prep for your child.   Don’t miss – Deadlines for merit aid may be earlier! – Many families…

Insider tips for the week of Sept. 24, 2018

10 things you do to increase your child’s student debt – We’ve all heard the horror stories about crazy amounts of student loan debt, but as Michelle Kretzschmar points out, there are a number of decisions parents make that make the situation worse. Take a couple minutes to make sure you aren’t doing any of…

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…

lose college financial aid

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…

8 Insider Tips to Late-Stage College Planning presentation for financial advisors

Click here to access College Inside Track’s 8 Insider Tips to Late-Stage College Planning presentation for financial advisors

Insider tips for the week of June 25, 2018

Grades and test scores don’t mean as much as they used to – Jeff Selingo explains that with 50 percent of American teens now graduating with an A average and over 1,000 colleges having dropped standardized tests as an admission requirement, other factors such as demonstrated interest are playing a larger role than before.  …