Financing a college education with the least amount of debt requires planning, savings discipline, an understanding of financial aid, smart college research, and good decision making at college time.
With the end of the tax year just around the corner, tax-savvy individuals need to take some time from their busy schedules to review the tax planning steps they’ve already taken and see what else they need to do.
Because of the growing number of students who require student loans to finance their education, the federal government offers several flexible repayment plans. We cover these and more in our student loan basics.
If you think that education credits are just for sending your children to college, think again—the credits are available to you, your spouse, and your dependents.
Fall is the time when many high school seniors narrow their college lists and start applying to colleges. To help answer “how much does college cost?” you can use a net price calculator, which is available on every college website.
There have been four student loan payment pauses since the start of the pandemic. The latest pause extends repayment obligations for federal student loan borrowers to January 31, 2022.
Grandparent-owned 529 plans were treated more harshly than parent-owned 529 plans on the FAFSA. This will change thanks to the FAFSA Simplification Act that was enacted in December 2020.
As seen in the Marietta Daily Journal: Bil Lako, CFP®, explains that a couple could fund a 529 Plan up to $150,000 and use five-year gift tax averaging to avoid gift taxes. Click here to read the article.
This week on “Money Talks,” the Experts discuss a couple who have a large estate and want to start moving money to benefit their grandchildren but want to avoid gift tax complications. We suggest superfunding a 529 Plan as one option.
The Consolidated Appropriations Act included several provisions related to education, including $22.7 billion for colleges and universities and a simplified FAFSA.
