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Worksheets & Resources

Retirement Contributions and College

Perhaps the most frequently asked question we get is how to balance saving for retirement and college. And I can’t answer that in a blog post because the right way to balance depends on your specific circumstances. We have told clients to pause retirement savings to meet college years cash flow needs, we have told clients to stop funding college…

FAFSA Basics: Student Income

Student income seems pretty straightforward on the surface. Students get an income protection allowance of $6,840 plus the same tax allowances as parents. Income in excess of the allowance is assessed at 50%. Given the prevailing minimum wage, it would appear that student income is not much of a factor. However, there are a few big items that get added…

FAFSA Basics: An Example

Having gone through the FAFSA formula, let’s take a look at how it works with a few scenarios that illustrate how small changes can have big impacts on EFC, or alternatively, how big changes can have small impacts. Our hypothetical family is a family of four with two children, one a high school senior and the other a high school…