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CollegeFinancialLady

Choosing a Loan

For many families, it’s crunch time: your student has accepted admission at a college and now you have to figure out how to pay for it. Most families borrow some or all of the cost of college. There are tons of ways to borrow, and you can always find someone willing to loan you money for college. The key is…

Help yourself in the “base year”

Are you the parent of a high school junior? If so, 2014 is your “base year” for financial aid purposes. What does that mean? It means that your initial financial aid applications—FAFSA and/or CSS PROFILE—will be based on your income and assets for 2014. Now is a good time to make plans or adjustments that will help you in aid…

Bill to Improve 529 Plans

Last month, a bill was introduced in Congress that would make some great changes to 529 plans. One of the best is this: it would allow account holders to roll up to $25,000 in leftover 529 plan funds into a Roth IRA with no taxes or penalty. There are some conditions, such as that the account must have been open…

Considering Different Offers

Since it’s college acceptance season, there are a lot of great articles out there about evaluating offers. Apologies for offering less original content here but reinventing the wheel doesn’t help. Here is a great article from the New York Times that will help you be a more informed consumer of your various offers.