March 2016 Newsletter

March¬†2016¬†Newsletter March Madness! Happy¬†March¬†Madness! If you are the parent of¬†a¬†high school senior,¬†March¬†Madness¬†has a new exciting definition. This¬†March¬†you‚Äôll be scrambling to finish your taxes early,¬†update your¬†FAFSA¬†application,¬†plus send tax returns, special financial circumstances explanations¬†and … [Read more...]

Will My Scholarships Be Taxable?

First, congratulations on winning that scholarship! This is a great question, especially now that it's tax time. Scholarships are generally considered "free money" and not taxed. But...We're talking about taxes, so there are exceptions. Let's take a quick look at which situations are taxable and which are not. Non-Taxable … [Read more...]

December 2015 Newsletter: End of Year FAFSA Tips & More

December¬†2015 Newsletter End of Year FAFSA Tips & More It‚Äôs December!¬† Before you settle in for the holidays, make sure you have optimized your 2015 end of year financial aid strategies. Next year new FAFSA rules will be implemented, which makes 2015 income a critical year for everyone. If you have a high school … [Read more...]

New FAFSA Rules Start the Clock Ticking to Get Your Plan in Order before the End of 2015

Have you started planning for college yet? It might seem early to have a college funding plan in place if your daughter or son is only 14 or 15. College is 3 years away, but the time to start detailed planning is actually now. The FAFSA (Free Application for Federal Student Aid) is the core application for all government and some institutional … [Read more...]

Is a Scholarship Taxable?

It‚Äôs tax season, and time to organize and gather¬†all your financial papers. ¬†If you‚Äôre a college student or a recent graduate that has received a scholarship over the past year, you may owe taxes on it. ¬†Typically, scholarships are known as ‚Äúfree money‚ÄĚ, but there are certain circumstances that require students to claim the scholarship benefit as … [Read more...]