Fellow Oregonians may have received an email today from the Oregon College Savings Plan about changes in the state tax benefit beginning in 2020. These changes create some opportunities for increased tax savings over the next several years.
The FAFSA gets a lot of attention right around now, but it’s only one of two financial aid forms. The other is the CSS Profile, used primarily by private colleges and universities. The Profile differs from the FAFSA in several major respects:
Isn’t it horrible that organizations like US News & World Report rank colleges? Remember the good old days when you could just go to college and not worry about rankings? When admissions departments focused on finding best-fit students, not best test score students?
High schools and others often promote AP, IB and dual credit classes as a way to save money on college, and for some students that’s certainly true. These classes have plenty of benefits other than saving money; however, I’m all about saving money on college so that is what I’m writing about.
The FAFSA offers a “Simplified Formula” that eliminates asset reporting for low-income families– those with household incomes below $50,000. There are some eligibility limitations, primarily designed to limit the Simplified Formula to those who truly have low incomes, not those who are able to manage or artificially reduce their incomes. In the past, in order to qualify for the Simplified…