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…
Read MoreWhy 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…
Read MoreInsider 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. …
Read MoreInsider 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…
Read MoreFederal 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…
Read MoreInsider 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…
Read MoreInsider 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…
Read MoreInsider tips for the week of March 26, 2018
Stop asking about my kid’s college plans – A beautiful essay from the NY Times from a parent who is going through it just like you. A terrific read, especially the point she makes in the second-to-last paragraph. Check it out. How colleges award financial aid – A succinct and well-written explanation by the…
Read MoreInsider tips for the week of February 26, 2018
3 tips for having the scary college money talk – I’ve been shocked at how many families with HS students we’ve been meeting with lately have not talked about what they are willing or able to spend on college, both between the parents and with the student. We naturally avoid things that are scary, and I realized…
Read MoreInsider tips for the week of January 29, 2018
Straight talk from college admissions officers to parents – Brennan Barnard collected candid advice to share with you. While some of it may be hard to stomach, it is valuable to get an insider perspective from the other side of the desk. Check out the article in the Washington Post. Are you a helicopter,…
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