Attending College In 2018-2019? Complete The FAFSA Now

October 04, 2017

I know that it feels like this school year just started, but for people looking to maximize financial aid for next fall, it’s time to start thinking ahead already. As of October 1st, the 2018-2019 Free Application for Federal Student Aid (often called the FAFSA) is available for submission and includes a new and improved IRS Data Retrieval Tool, which makes filling it out much simpler (and safer)!

Why complete the FAFSA ASAP?

If you think you or your student may qualify for any need-based aid, it’s essential to file your form ASAP — many states and schools have a limited amount and it’s literally first come, first served. And since the “base year” that the form uses to evaluate your income and assets is now basically two years ago, you don’t have to wait until your taxes are done to file a complete form — the 2018-2019 form is based on your 2016 taxes, which, if they haven’t been filed yet, are due by October 16th this year at the very latest to avoid late-filing penalties.

In other words, you already have the numbers you need to complete the form for next year. Why not get a head start and take one thing off the list at tax time?

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Student Loans Are Not Financial Aid

December 28, 2015

The Free Application for Federal Student Aid (FAFSA) opens after January 1 for the 2016-2017 school year. Parents and students all over America will begin the difficult, agonizing process of figuring out how to fund an increasingly expensive American college education. In honor of the start of the financial aid season, I’d like to point out the obvious: student loans are NOT financial aid. They are a financing mechanism. Those are two different things. Continue reading “Student Loans Are Not Financial Aid”

Don’t Fear the FAFSA

December 10, 2013

One of the great things about the holidays is that you get to spend time with family members you don’t otherwise see throughout the year.  For me, that meant seeing my nephew for the first time since he graduated from high school last summer.  I had assumed he had started his freshman year at college this fall, but sadly that was not the case.  Continue reading “Don’t Fear the FAFSA”

What Tootsie Rolls and Financial Aid Have in Common

November 23, 2012

Much to the chagrin of dentists everywhere, Tootsie Roll has been a staple of the candy business for a very long time.  This article talks about the Tootsie Roll Company being a very secretive organization.  And we thought it was just the CIA that operates in relative secrecy!  Tootsie Roll doesn’t give tours, they don’t give interviews to analysts and they don’t operate with much transparency.  It’s as if they have some magical mystery formulas that they don’t want the rest of us to know.  That reminds of an email that I saw from a friend at work this week… Continue reading “What Tootsie Rolls and Financial Aid Have in Common”

Getting Smart About College Costs: Part 3

May 02, 2012

By May, the “long wait” is over for most high school seniors. They’ve heard from the colleges or universities they applied to and have made their final choice. With a September destination locked in, there’s not a whole lot of learning going on in those last weeks of high school. Usually it’s a time for just showing up, having fun and saying goodbye to teachers and friends. Let Senior Week begin! Continue reading “Getting Smart About College Costs: Part 3”

Back to School Season Brings Tuition Bills to Your Employees

September 13, 2011

It’s that time of year again.  Summer is coming to an end (already!) and college classes are starting.  You know what that means for your employees that are parents – time to start writing those checks!

Unfortunately, sometimes those checks have nowhere else to come from but their retirement accounts.  If you handle the day to day administration of your retirement plan, do you notice an uptick in hardship withdrawal and loan requests around this time of year?  If so, these looming college costs could be the culprit.  According to the College Board, the average tuition this year is almost $8,000 for an in-state public university, and that doesn’t even include room and board, books, and other typical costs. Continue reading “Back to School Season Brings Tuition Bills to Your Employees”