How You Can Maximize Student Aid explains the components that determine federal student aid, the better places to save, and what you should think about come tax time. The goal is to maximize aid while keeping assets accessible, growing with tax benefits.
A mistake on the FAFSA can result in loss of several thousands of dollars in aid. This valuable reference guide will provide you with new ideas and help you prioritize, whether you are saving for a newborn or if college is looming just around the corner.
Inside this Reference Guide You Will Find:
- Free Application for Federal Student Aid (FAFSA): Quick overview
- Expected Family Contribution (EFC): Detailed formula explanation
- Ideas for All Income Levels: Take advantage of formula rules
- Tax-free and Tax-deferred Places to Save: Explore investing options
- Education Accounts: Choose the right one and who should own it
- Life Insurance: Discover all the flexible uses
- Single or Divorced Parent: Learn valuable strategies just for you
- College Offers: Distinguish between free money and award of debt
- Tax Benefits for Education Expenses: Make smart choices