My last post highlighted some of the tax benefits of 529 plans. One of the lesser-known benefits is that 529 plans get preferential treatment on the FAFSA. How? A couple of ways.
Is the aid award from your first-choice school insufficient? The New York Times offers some tips for appealing here. A couple of key points in the article:
If your student’s dream school didn’t show her the money, you might be considering appealing the aid award. If so, this article by college consultant Lynn O’Shaughnessy has some helpful tips.
Some colleges are really good at making a little look like a lot. Others are good at meeting students’ need. It’s up to you to figure out which bucket the schools that accepted your student fall into. Here are some critical points in reviewing aid offers:
and rapidly! Just because the “official” federal FAFSA deadline for next school year isn’t until next June doesn’t mean you can wait. Why?