Financial Aid and How it is Determined

When you’re applying for college, you may also need to apply for financial aid. This process can seem very daunting, and you may be wondering how your eligibility for financial aid is determined from the information on your application. Your eligibility for financial aid depends on many factors that are used to determine how much …

Higher Education: Filling the Payment Gap

Unfortunately, financial aid doesn’t always cover the full costs of a student’s education. With the rising costs of college, books and supplies, room and board and other costs that are included in college expenses, parents and students need other avenues to cover the gap. Federal parent loans The Federal Parent PLUS loan is an option …

Death and Taxes

‘It’s a well-known saying, “the only two things that are certain are death and taxes.”  It’s important to consider that statement when faced with  the flood of information about how to maneuver around the formula used to determine if your student is going to receive need-based financial aid to hlep pay for college.  Most of …

What is Student Financial Aid?

  Simply put, student financial aid is funding to help the student pay for higher education.  Financial aid can be based on the family’s financial circumstance (Need-based) or the qualities of the student (Merit).  Financial aid can include grants, scholarships, work study and student loans.  As a general rule, merit aid is handled by the …

Reviewing Financial Aid Award Letters

Hopefully, next month (April), your high school senior will be accepted to three or four colleges and receive financial aid award letters from each stipulating what assistance is being offered. It is important to compare these offers as each will surely be different, and those that provide the most dollar assistance may, in fact, cost …

College Tax Credits

There are currently three college-related Tax credits and one deduction: The American Opportunity Tax Credit (AOTC) – $2,500 per eligible child The Lifetime Learning Credit – $2,000 per eligible child The Hope Scholarship – $1,800 per eligible child The Tuition and Fees Deduction You may use only one credit per eligible student per year. The …