Part 1: Timing and Income Last week the Department of Education announced that this year’s FAFSA will come out in December, not October. We now have some additional information about FAFSA Simplification and what’s in store, so let’s dig in! December? Yes, this year the FAFSA will be released in December, not October. That’s to accommodate the myriad changes that…
About 3/4 of financial aid appeals result in the student receiving additional aid, according to Sallie Mae’s How America Pays for College. And yet, less than half of families appeal their aid award. There’s no harm in appealing: any college that has admitted your student wants them to attend, and asking for more money won’t change that. Your odds of…
We’re almost there: acceptance letters are arriving and the May 1 decision day is right around the corner. For most families, how much schools cost is part of the decision making process. But comparing award letters from different schools might seem like comparing apples to taco salad. The good news is, all offers need to show total cost of attendance,…
Annuities are, too. And yet, insurance salespeople love to prey on parents trying to juggle college, retirement and other savings priorities. Claims that “It’s better for financial aid since you don’t have to report it on the FAFSA!” and “You don’t have to decide whether to save for retirement or for college because you can use it for both!” have…
Outside scholarships can be a great way to stretch your college budget. And sometimes they offer more than just scholarship dollars: my daughter receives an outside scholarship that includes a career mentor who helped her find an internship that led to a full-time job offer when she graduates this spring. Outside scholarships can also be an exercise in frustration with…