educational savings

by Ryan W. Smith The Free Application for Federal Student Aid (FAFSA) has become an annual rite for all college-bound students since its creation in 1992. The form, which parents fill out annually with income, …

There are two main aspects of FAFSA and 529 College Savings Plans that are impacted by the FAFSA changes. The first deals with the Expected Family Contribution (EFC) amount derived from FAFSA information. The EFC’s …

Beginning with the 2017-2018 academic year, the FAFSA will use a two-year lookback. For example, 2016 and 2017 tax information would be used for the necessary portions of the 2017-2018 forms. This will prevent the …

From 1992 until 2016, the FAFSA was filled out by parents after January 1 each year, based on the prior year’s tax forms and updated once taxes were filed. For example, the FAFSA due January …

Yes, there are several. 529 Savings Plans, Coverdell Education Savings Accounts and Revocable Educational Trusts are specifically set up for college savings, by students, parents, grandparents or other loved ones. Each are setup to reduce …

College costs have doubled in the past 15 years, growing by an average of nearly 6.5% per year. By 2030, at 5% inflation, less than the current average, college tuition will rise to $18,630 per …

College planning is a difficult and time consuming process that, even when successful, must start years before the education itself begins. There are many pitfalls along the way but here are three mistakes many people …