All employers, schools, organizations, etc. are required to send your tax information to you by January 31 of each year. Examples: W-2s (from your employer- record of wages earned) 1098T (record of college tuition and fees) 1099 Misc (record of non employer wages) ***For more information visit www.irs.gov. If you are planning to attend [...]
This is a question that many students have a most do not like the answer. The federal government considers you a dependent student until the age of 24. Financial aid was designed to fill the gap between what the federal government expects the family to contribute (EFC) toward the students’ education. Reality may often be [...]
If you are taking summer classes at a college, check with their financial aid office and make sure you follow the process if you want to get financial aid. There are multiple ways you could get financial aid for this summer session. First, the federal government instituted a new Two Pell in a Year program [...]
Applying for aid is just the first step in a process. One in three applicants will be selected for a process called verification. If your application is selected, you will need to provide the financial aid office with tax forms and other documents. Provide the verification documents as soon as possible. Most financial aid offices [...]
For high school seniors, spring is a nerve-racking season to walk to your mailbox! First, there is the much anticipated acceptance letter. But even more important, there is your financial aid award letter. If you completed the FAFSA and applied for financial aid for the 2011-2012 year, you should be getting your financial aid award [...]
The U.S. Congress is struggling to agree on the budget and whatever state you live in is struggling too. One of the big problems is that much of the fluff has already been cut and there are not a lot of discretionary areas to reduce spending. Education is one of the targets. How does that [...]
Have you been watching the news? There is a big fiscal stand-off in Washington, DC. Both sides say they want to reduce the deficit and balance the budget. Last week the House of Representatives passed HR 1, which would cut funding for education programs by $11.5 billion (16.1%). If the Senate passes this it would [...]
In my last blog we discussed the components of the Cost of Attendance (COA) and Expected Family Contribution (EFC). Financial aid offices subtract the amount families are expected to contribute toward the student’s education from the calculated COA for their school. The result is the amount of need the student has and this is the financial [...]
