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.
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
The College Offer: Distinguish between free money and award of debt
Tax Benefits for Education Expenses: Make smart choices
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.
About the Author
Tracy Foote consults with leading advisors on investing, life insurance, and student eligibility for federal aid. Her book provides an introduction to the financial aid process, giving parents extensive information and sound advice. Whether parents are saving for a newborn or college is looming around the corner, they can identify areas to save thousands of dollars.
Her other financial advice book is The Kid s ROTH IRA Handbook.
Updates to How You Can Maximize Student Aid
2012-2013 Expected Family Contribution
New for 2012-2013: The income threshold for an automatic zero EFC has been increased from $31,000 to $32,000 for the 2012-2013 Award Year.