New Strategy For College Aid Maximization

New Strategy For College Aid Maximization

The pandemic relief law that the federal government passed in December included some significant changes to the college financial aid application process. Here is a very brief summary of some of the key provisions together with some implications for families with children or grandchildren approaching college age. Most will go into effect on July 1,…
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New Changes To The Student Aid Process

If you have college-age children you’re probably familiar with the Free Application for Federal Student Aid (FAFSA) form and provisions. There were some pretty major changes made as part of the Consolidated Appropriations Act that was passed at the tail end of 2020. Here’s a brief summary. The Expected Family Contribution (EFC) has been renamed…
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Understanding the New SECURE Act

Congress and President Trump just passed the bipartisan Setting Every Community Up for Retirement Enhancement (SECURE) Act as part of another spending bill needed to keep the federal government operating for a few more months. The SECURE Act represents one of the biggest changes to retirement planning since 2010, and although there are some negative…
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What To Do About The Exploding Cost of Higher Education?

Below are two charts that will probably astound you, courtesy of Jill Mislinski at dshort.com. The first compares the increase in the cost of college with the increase in the Consumer Price Index, the cost of medical care, and the cost of a new car over the last 41 years. While medical costs have risen…
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What to Do With A Leftover 529 Plan

Despite the burgeoning cost of higher education these days, some parents might still end up with unspent money in a 529 plan after their child has graduated from college. As you may know, if you withdraw the money for purposes other than for your child’s education, you have to pay taxes plus an additional 10%…
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The Ugly Way To Become Rich

There is no shortage of promoters of wealth-building schemes. Many start by writing books extolling secrets that they learned along the way to their own alleged success. If their fame from their books grows they often develop seminars and training classes designed to provide more secrets, tools, and motivation to help you become rich like…
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