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Blog archive
Funded and Unfunded Aid
Congratulations! You got accepted into several schools, and each offered you some financial aid. When you compare the offers, it’s important to make apples-to-apples comparisons. The first thing to figure out is, did you get funded aid or unfunded aid?
What is a “Qualified Expense”?
Most of us will be lucky to save enough in 529 plans to cover the cost of college tuition, let alone room, board and/or any of the other expenses that might qualify. Here is a quick rundown of what expenses qualify with a 529 savings plan:
Divorced Parents and Aid Applications
Divorced parents tend to have a number of questions about aid issues and college applications in general. Let’s start with the basics: Do both parents’ incomes count? And what about new spouses’?
Myth #2: We make too much money to qualify for financial aid
Many parents mistakenly believe that their income level means that they will be required to pay full fare for college for each of their children. The notion of $60,000 in annual costs x 4 years x 3 children keeps them up at night—understandably. As does the thought of limiting their children’s aspirations to in-state schools.