Paying for Education - 360 Degrees of Financial Literacy

Q & A: Filing the Federal Financial Aid Application

Tue, 10 Jan 2012 15:09:46 EST

The federal government's Free Application for Federal Student Aid, the FAFSA, should be filed as soon after January 1 as possible in the year your child will be attending college. The reason is that some federal aid programs operate on a first-come, first-served basis, so filing the application early ensures your child has the best chance of receiving the most favorable aid package. Here are some common questions and answers regarding the application process.

Tax-Advantaged College Savings Strategies

Wed, 14 Dec 2011 12:14:05 EST

You're ready to start saving for college, but where should you put your money? There are many college savings options, but you should generally opt for tax-advantaged strategies whenever possible. Why is it so important to consider strategies that offer tax benefits? Because taxes can eat away at any money you might earn. Here are some tax-advantaged savings options to consider.

Does the federal financial aid formula count all parental assets?

Thu, 10 Nov 2011 18:22:00 EST

Does the federal financial aid formula count all parental assets?

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I'm a stepparent. Is my financial information listed on the FAFSA?

Wed, 14 Sep 2011 12:54:35 EDT

I'm a stepparent. Is my financial information listed on the FAFSA?

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Talking to Your Child about College Expectations

Thu, 11 Aug 2011 15:26:49 EDT

If you're the parent of a high school student who's looking ahead to college, it's important to have a grown-up conversation with your child about college expectations. A frank discussion can help everyone get on the same page. Here are some talking points.

The best ways to save for college

Fri, 22 Jul 2011 01:47:44 EDT

When saving for college, consider strategies that offer the best combination of tax benefits, financial aid advantages, and flexibility for your investment dollars. 529 college savings plans and prepaid tuition plans, Coverdell education savings accounts, and custodial accounts are all possible options.

Sticker Shock: Creative Ways to Lower the Cost of College

Fri, 22 Jul 2011 01:46:47 EDT

There are ways you and your child can lower college costs if the bills seem out of your range. Perhaps the college offers tuition discounts or other flexible payment plans. Or maybe your child will qualify for an accelerated program and can graduate in a shorter time. Some children take advanced placement courses in high school and require fewer college courses. Your child can also consider a cooperative education program, attend a community college for a couple of years, live at home, or even take a year off to save money. Look into the many possibilities.

Should I take out a home equity loan to pay for my child's tuition?

Fri, 22 Jul 2011 01:46:06 EDT

Should I take out a home equity loan to pay for my child's tuition?

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Opening a 529 Account

Fri, 22 Jul 2011 01:44:15 EDT

To open a 529 account, you'll need to complete an account application. You'll be asked to name a beneficiary, and, if you're opening a college savings plan account, you may be asked to choose an investment option. When you submit your application, you'll need to make an initial contribution. Once your account is opened, you should continue to manage it, periodically checking on how the plan is performing.

Making Changes to Your 529 Account

Fri, 22 Jul 2011 01:43:34 EDT

From time to time, you may need to make changes to your 529 account. For instance, you may need to change the account owner or beneficiary, choose a different investment option, or switch to a new 529 plan. Fortunately, 529 plans can accommodate these changes and more.