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What is the Federal Supplemental Education Opportunity Grant?
The Federal Government will give college students who have filled out a FAFSA and are found to be in dire financial need a grant of up to $4,000 a year. The grant does not have to be repaid. The Federal Supplemental Education Opportunity Grant provides funding for educational expenses to students with expected family contributions (EFCs). The maximum annual amount that can be received in a SEOG is $4,000 per student. Continue reading...
What is a Student Loan?
Expenses for tuition, room, and board at a secondary education institution can be loaned to a student and paid off over time in the form of a student loan. Tuition and other college expenses have inflated at a much faster rate than the rest of the consumer price index. These institutions can charge more and more as they experience student housing crunches and an ever-growing demand for college education. Continue reading...
Will Having a 529 Plan for My Child Impact His/Her Eligibility For Financial Aid in the Future?
It will be factored in when considering financial aid eligibility. Unfortunately, having a 529 Plan may affect your child’s eligibility for financial aid in the future. If a parent owns the account, in 2016 the financial aid office will take 5.64% of the account’s value (and all other non-retirement investment accounts) into consideration when determining how much financial aid a student can receive. Continue reading...
What Are 529 College Savings Plans and How Can They Benefit You?
Navigating the world of education savings? Dive into the comprehensive guide on 529 College Savings Plans. Uncover the tax benefits, understand the two primary types, and learn how to choose the right plan for your needs. Whether you're planning for college, K–12 education, or even apprenticeship programs, a 529 plan offers flexibility and significant tax advantages. From investment risks to using funds abroad, get insights into every facet of these plans. Equip yourself with the knowledge to make informed decisions and secure a brighter educational future for your loved ones. Continue reading...