Rules on Opening a 529 Plan Account for College
If you have a child or grandchild, you may want to consider opening a 529 Plan for future education costs. We explain the rules in this week’s Financial Tip.
Comparing Financial Aid Packages
With the cost of college continuing to increase year after year, for many families, financial aid can be the deciding factor in whether a child attends the college of his or her choice. We explain how you can compare financial aid packages in this week’s Financial Tip.
Is student loan interest deductible?
You may be able to deduct up to $2,500 each year from your gross income if you’ve paid interest on a qualified education loan for qualified higher education expenses during the year. To be eligible for the deduction, your modified adjusted gross income (MAGI) must fall below a threshold figure. For 2019, the deduction begins…
What You Should Do in The Years Before Your Child Goes to College
In this episode of Planning Priorities, Henssler Associate Melanie Wells, CFP®, shares some financial steps parents can take before their children go to college.
Money Wise: Student Loans 101
In this installment of Henssler Financial’s Money Wise series, Associate Peter Lynch, highlights the true cost of college, loan consolidation and refinancing student loans, and he also explains why you should pay off student loans and save for retirement at the same time.
College Net Price Calculator
If you’re saving for a child’s college education, at some point you’ll want to familiarize yourself with a college net price calculator, which is an invaluable tool for estimating financial aid and measuring a college’s affordability. Available on every college website, a net price calculator gives families an estimate of how much grant aid a…
When should you submit college financial aid forms?
For the 2019-2020 school year, the federal government’s financial aid form, the FAFSA, can be filed as early as October 1, 2018. It relies on current asset information and two-year-old income information from your 2017 tax return, which means you’ll have the income data you need when you sit down to complete the form. This…
In the News: Carefully Consider Your Expenses Before Overborrowing for College
In today’s Marietta Daily Journal, Bil Lako, CFP®, discusses the trend of college students overborrowing on student loans to cover lifestyle costs beyond tuition and education expenses. The numbers are shocking! Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation…
Carefully Consider Your Expenses Before Overborrowing for College
Chief Investment Officer, Troy Harmon, CFA, CVA, is joined by Managing Associate K.C. Smith, CFP®, and Associate Peter Lynch in a discussion on borrowing responsibly for college education costs, and how much overborrowing can cost a student.
What expenses are included in the annual cost of college?
To the federal government the annual cost of college means the cost of attendance. Twice per year, the federal government calculates the cost of attendance for each college, adjusts the figure for inflation, and, if you or your child is applying for financial aid, uses this number to determine the financial need. Five categories of…