Common FAFSA mistakes (Part II)

In my previous blog, I began a list of the Top Ten mistakes we see parents make when it comes to the Department of Education’s Free Application for Federal Student Aid (FAFSA). I listed the first 5 FAFSA mistakes. In this blog we’ll cover the final 5 FAFSA mistakes.
But first, three quick reminders:
1) Everyone should [...]

Common FAFSA mistakes (Part I)

It’s very important that you fill out the FAFSA correctly. Depending on which source you believe, it’s reported that somewhere between seven out of 10 and nine out of 10 FAFSA forms are submitted with errors. These mistakes can be costly because they may prevent you from getting the college aid you deserve.
I’ll share with [...]

Tax breaks for parents of college students

Even though tax season is over, it’s not too late to cash in on some education-related tax benefits. Check your tax return to see if you included these credits. If not, you can file an adjusted return.
American Opportunity Tax Credit. The purpose of this credit is to help parents and students pay part of the [...]

5 Most Important Questions to Ask the Financial Aid Office

If your child is a high school senior, you must find out the financial aid deadlines at each college and make sure you get the financial aid forms in before the earliest deadline. In addition, you want to stack the odds in your favor by asking these 5 vital questions to the financial aid officer [...]

College “Financial Aid Night” Can Cost You

At our recent college-planning workshop in Summit, a parent told us that our information was substantially more valuable than what she learned at her high school’s “Financial Aid Night.”
We hear that a lot. My own personal experience is that Financial Aid Night can be hazardous to your wealth.
Many parents assume that their child’s guidance counselor [...]

College costs on the rise at state colleges

Did you see this in the news recently?…
The non-profit College Board reported that tuition and fees at state colleges and
universities rose more than 8% last year.
To put the price increase into context, the 8.3% spike is more than twice the inflation rate of 3.6%. Meanwhile family earnings continue to fall across all income levels.
We’ve been [...]

For parents who make too much money to get college aid

Quick, what happened last October that happens only once every 823 years?
If you knew that October had 5 Sundays, 5 Mondays and 5 Saturdays, congratulations. That is the correct answer.
Do you know the last time that happened? You’ll have to go back to the 12th Century. How far back do you save your calendars?
Last year [...]

How a special skill can get you into college

Have you ever visited a college or university for an official visit? At most schools, the college admissions process goes like this:
Step 1: the Director of Admissions or Assistant Director of Admissions gives a speech
Step 2: some students and/or professors are brought in and they give a speech
Step 3: question & answer session
Step 4: one [...]

Are you about to pay too much for college? Here’s how to find out

It’s getting frightening. College students are now borrowing twice as much as they did 10 years ago. Total outstanding debt has doubled in just the last 5 years. The amount of student loans surpassed the $100 billion mark for the first time ever. Total outstanding loans will exceed $1 trillion this year.
Without any guidance, 90% [...]

How to attend a college fair

College fairs are like Las Vegas: much of what you see is glitzy and artificial, but in a mostly fun way. And you’ll never see more perky people in one place. (I’m from England; we don’t do perky.)
That said, there is value in college fairs. How should one approach them to get the most benefit?
Most [...]

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Ian R. Welham, Certified College Planning Advisor  -  Tel: 973.467.0101