Paying for College
529 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 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 MoreFederal Student Loan Forgiveness Applications Open
Student loan forgiveness applications open The Department of Education has launched a beta test of its application website for those seeking debt relief. Federal student loan borrowers can now submit applications through the Department’s beta mode website. Borrowers who submit their applications now will not need to resubmit them once the Department of Education begins…
Read MoreStudent Loan Forgiveness Details
Here is a Q&A with College Inside Track President Chris Wills regarding the Biden administration’s student loan forgiveness plan: Chris, there’s been a lot of publicity around the Biden-Harris Administration’s Student Loan Forgiveness Plan. I just received my first alumni parent text on the topic: “How do we get the Biden Loan Forgiveness…
Read MoreJay Benanav Q and A: Financial Aid Issues for 2023 HS Graduates
College Inside Track founder and nationally recognized college admissions financial aid expert Jay Benanav discusses some of the most salient college financial aid issues relative to the 2022-2023 application cycle Q: Jay, what is new and reportable in the 2022 landscape of financial aid? What have we learned in the last application cycle? Even…
Read MoreCozy Wittman on Wicked Pissah Podcast: Financial Strategies Driving the College Search
Cozy Wittman, Wicked Pissah Podcast, Episode 118 College Inside Track’s Cozy Wittman offers a really fun, comprehensive discussion around the college search. With strong advice for financial advisers, the podcast speaks to all listeners with a stake in the college search. When should families begin thinking about the college search? When should the scholarship…
Read MoreCongratulations Class of 2022!
Class of 2022, by the numbers. Congratulations to all of our 2022 clients!
Read MoreScholarship 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…
Read More5 Nuggets of College Planning Wisdom
1 Choose a college that is a fit academically, socially AND financially. And a financial fit inherently means that neither the student nor the parents are over-borrowing (see #2). 2 Borrow an amount no greater than the average first-year salary in your chosen field. If total student loan debt is less than your starting salary,…
Read More