The PATH Act of 2015, aka the budget deal signed last week, included a bonus for families of college students: computers, software and peripherals are now Qualified Higher Education Expenses eligible for purchase via 529 plan funds. Previously computers had to be required by the school in order to be eligible. (One could of course argue
Tax Credits and Deductions
The FAFSA 4caster is a good tool for estimating your EFC but it’s important to understand its limitations. The big one is this: it only asks for one piece of your income, your AGI. The FAFSA itself requires you to add back some big ticket items that are not included in your AGI.
This time of year I talk to many people who are scrambling to come up with tax deductions before the end of the year. Maxing out your deductible 529 plan contributions each year is a good idea and should have a place in that strategy. But before you rush to write a check by Dec. 31, check your state’s contribution…
Most of us don’t have the full four years of college expenses socked away in a 529 plan when our student starts college. That means that most of us use a combination of savings, out-of-pocket spending, and borrowing to pay for college. It’s logical to assume
This week, President Obama signed an executive order that will dramatically simplify the financial aid process for many families. Beginning next October, for the 2017-2018 school year, families will be able to file the FAFSA using two years’ prior (“prior-prior year”) data. That means that