Grandparent 529 Plans Get a Boost Under New FAFSA Rules
Grandparent-owned 529 plans were treated more harshly than parent-owned 529 plans on the FAFSA. This will change thanks to the FAFSA Simplification Act that was enacted in December 2020.
Grandparent-owned 529 plans were treated more harshly than parent-owned 529 plans on the FAFSA. This will change thanks to the FAFSA Simplification Act that was enacted in December 2020.
As seen in the Marietta Daily Journal: Bil Lako, CFP®, explains that a couple could fund a 529 Plan up to $150,000 and use five-year gift tax averaging to avoid gift taxes. Click here to read the article.
This week on “Money Talks,” the Experts discuss a couple who have a large estate and want to start moving money to benefit their grandchildren but want to avoid gift tax complications. We suggest superfunding a 529 Plan as one option.
The Consolidated Appropriations Act included several provisions related to education, including $22.7 billion for colleges and universities and a simplified FAFSA.
Financial aid is essential for many families. Can you separate fact from fiction when it comes to this important piece of the college financing puzzle?
New changes to the FAFSA, including a significant reduction in the number of questions, will take effect for the 2023-2024 school year.
Federal student loan relief was extended through December 31, 2020. Additionally, no interest will accumulate on the loans — the interest rate will remain at 0% through 2020.
Your income from two years prior is what counts on the FAFSA. For example, the 2021-2022 FAFSA will rely on income information in your 2019 tax return.
The 2020-2021 academic year is right around the corner, and the coronavirus pandemic has upended the college world, like everything else.
For the second year in a row, interest rates on federal student loans will decrease for the 2020-2021 academic year.