It’s college season. Students eagerly await their acceptance letters and are completing scholarship forms to help pay for their schooling. FAFSA (Free Application for Federal Student Aid) forms are required of any student seeking monetary assistance from the federal government for their higher education. In the past, many have complained the application is confusing and frustrating. This year the forms have been simplified but more has changed. Read the details here, How is the FAFSA going to change? How it’ll mean less financial aid for some.
Tag: college
College Tax Credits and Deductions
Are you a college student or parent of a college student? You may qualify for certain tax breaks, including the American Opportunity Tax Credit, the Lifetime Learning Credit, or the Student Loan Interest Deduction. Education savings accounts like Coverdell or 529 plans may also help manage college expenses. For a complete list of tax benefits for college students and parents visit: IRS Tax Benefits for Education Information Center. To learn more about these credits and how they may contribute to your tax savings, read: What to Know About Tax Breaks for College Students and Parents
New Tax Changes Affect Gifting Money to Minors
As the end of school approaches, many parents and grandparents consider college expenses for their children. What once was an easy and low-tax way to give money to younger children will soon cost a good deal more. Ashley Ebeling for Forbes explores the changes in the so called “Kiddie Tax” in her article, The Kiddie Tax Grows Up: Beware The IRA Trap
Instagram, Snapchat, LinkedIn?
Many teenagers are now creating LinkedIn profiles in order to share a more “adult” view of their achievements with colleges and universities during the admissions process. Some question the health of having our children so future-focused, while others make a living teaching students how to tailor these profiles to best showcase their skills and achievements. What do you think? In the current climate of highly competitive college admissions, should you pull out all the stops in an effort to land the college of your dreams?
New Item on the College Admission Checklist: LinkedIn Profile
College Financial Aid Changes
Proposed changes in the timeline for college financial aid offers will give students more time to weigh their options and make an informed choice about which school is the best fit. Starting this year, families can file FASFA (the Free Application for Federal Student Aid) as early as Oct. 1st. This gives students more time to compare the affordability of various schools and to gather information about their educational programs, leading to a more informed choice and a better college experience.
Who Has The Higher Unemployment Rate?
This month, many high school graduates walked the stage and are now preparing for the next step in their education. Will the college training they seek really help them get a better job and make more money? According to the current unemployment statistics, the answer to that question is, Yes. Quoctrung Bui for the New York Times highlights this point in the article, The One Question Most Americans Get Wrong About College Graduates. Even when the economy is down and college grads have difficulty finding work, those with degrees have a better chance of acquiring sustainable jobs that ultimately make more money than their non-degreed counterparts.
Grandparents Help With College
As college expenses continue to increase, grandparents are beginning to step-in and offer assistance to their grandchildren. John F. Wasik, for the New York Times offers sound advice for those wishing to help with their grandchildren’s college expenses. The Best Way to Help a Grandchild With College. There are many aspects to be considered in order to maximize your monetary support of a student, such as when the money is applied or whose name appears on the account. Read the full article to learn more about the amazing gift of higher-education that you can share with your grandchildren.
Texas, 529 College Savings Day
College is not always the first thing that comes to mind when you are preparing to have a baby. But it’s amazing how fast the years go as your child grows, and how just a little preparation can ease any transition in your life. Today is 529 College Savings Day, in Texas. Click Here to find out more about the plans Texas offers and take a step toward your child’s future!
Blurred Lines
Quick, make a list of all the jobs you’ve held to this point. Ever worked two jobs? One in the decidedly white-collar sector while the other was in the more blue-collar service industry? In her article, Your Professor, Your Waitress, Brittany Bronson explores the current need for “survival” jobs along with many career choices. As a professor at the University of Nevada and a waitress on the side, she has firsthand experience. Her main concern is that showing her students that she must have a second job is destroying the facade of success I present as one of their university mentors.
Pay Now or Pay Later
Did you accrue debt when you were in college, from financial aid or student loans? Been dodging those phone calls in an effort to not payback what you owe? You might want to read this. What seems like insurmountable debt now may become more than you ever dreamed, when the government starts taking it out of your Social Security check in forty years. When it rains, it pours…