Posts Tagged ‘expected family contribution’
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 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…
Read MoreFAFSA change for families with multiple students
At first glance, the recent changes to the FAFSA appear to be a good thing: A simpler form with far fewer questions, increased financial aid eligibility for low income families, and a formula change reducing any penalty for grandparents who contribute to college. But another formula change could prove to be extremely painful to…
Read MoreInsider tips for the week of July 8, 2019
How to explain student loans and debt to your child – The idea of debt is often unfathomable to a teenager because they’ve likely never dealt with large sums of money and repayment happens in the unknown of the future, (which of course will turn out great). Road2College shares practical tips for how to help…
Read MoreInsider tips for the week of April 1, 2019
How to help your teen be college-ready – Being admitted to college doesn’t mean a student is ready for it. Check out this important read from the New York Times, which explains how parents can encourage kids to step up their levels of personal responsibility while still in high school. Top 5 mistakes in making…
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 MoreNeed-to-know education changes in tax bill
The new tax bill will affect numerous areas of education funding and college planning. After numerous versions and last-minute changes, here is a summary of what did (and didn’t) happen: College tuition benefits – Originally targeted to be taxed, tuition benefits for grad students or children and spouses of employees remain tax-exempt. 529 plans –…
Read MoreShortcut to finding out how much the gov’t expects you to pay for college
College is a strange purchase, one of the few where you don’t know the final price until after you’ve done all the work. Imagine shopping for a home the way most people shop for college. You’d spend months driving (or flying) all over looking at houses that were in a certain neighborhood or had certain amenities.…
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