Students submit the Free Application for Federal Student Aid (FAFSA) to apply for college financial aid from the federal government, state government and most colleges and universities. For many colleges and universities, the FAFSA is the only form students need to file. However, some colleges require a supplemental form called the CSS Profile in addition to the FAFSA. The CSS Profile differs from the FAFSA in many ways, including more than twice as many questions.Read More
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Applicants for federal student aid must satisfy certain eligibility requirements. Other forms of financial aid have similar eligibility requirements, as well as a few additional restrictions, such as age and state residency requirements.Read more
Superfunding is a term sometimes used to describe large 529 plan contributions using 5-year gift tax averaging. It can be a great way to jumpstart a child's or grandchild's college savings account, since it allows individuals to contribute a big lump sum in one year without gift tax consequences. Here are a few rules and tips to keep in mind when considering superfunding a 529 plan.Read more
Every dollar you borrow will cost about two dollars by the time you repay the debt. So, before you use student loan money to pay for something, ask yourself if you’d still buy it at twice the price.Read more
Parents who are still repaying their own student loans, but have to save for their own children’s college costs, are between the proverbial rock and a hard place. Some parents are stuck repaying student loans they borrowed as college students themselves or loans they borrowed on behalf of their older college-bound children, with younger siblings still needing college financing help.Read more
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