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FAFSA

Lucky You: Grandparents Want to Help

If you are among those fortunate individuals whose parents want to help pay for their grandchild’s education, it’s worth figuring out the best way for them to do so in order to avoid the law of unintended consequences. In the college world, unintended consequences include losing financial aid as a result of a grandparent’s gift. First, you need to know…

529 Plan Basics

There’s no such thing as a dumb question, but asking questions seems to make plenty of people– myself included– feel dumb, which then causes us not to do it. For those who find themselves wishing they had asked more about 529 plans, here is a “back to basics” guide. (As an aside, there is a veritable alphabet soup of college…

When to file the FAFSA

Generally you want to file the FAFSA as soon as you can. That’s because some aid sources are available “until funds are depleted”—the early bird gets the worm, as the saying goes. However, keep in mind that your assets are calculated on the date you file. If you have assets in excess of the Asset Protection Allowance (approximately $30,000, depending…