This is episode 19, and today we are answering the question, How Do I Get Classified As An Independent Student When Filing The FAFSA?
Now when people file the FAFSA, they are classified into one of two categories: independent, or dependent. Dependents need their parents tax information to complete the FAFSA. In addition, the government assumes that the parents of dependent students will aid financially in paying for their child’s education, whether this is financially a reality. Now it is always better from a financial aid standpoint to be classified as an independent student, and here are the reasons such a classification
This is episode 18, and today we are answering the question, How Should I File The FAFSA If My Parents Are Divorced?
Lets be honest, 50% of all first marriages end in divorce. The rates go up on all marriages after that. In addition, more than half of all births to American women under 30 are born out-of-wedlock. So odds are that as you are enter college now, you have lived with one parent as opposed to both. Now the FAFSA asks you to enter parental information to about their finances to decide how much aid you qualify for. The question is, what information should you be entering if you live with only one parent the majority of the time?
This is episode 16, and today we are answering the question, Should You Put A 529 Plan In A Childs Name?
529 Plans have become one of the preferred college savings options over the last decade. They offer so many benefits not only in heir tax treatment, but also in their ability to change over time to fit the needs of investors and many are now FDIC Insured, just like a bank account.