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Are Scholarships Taxable? Rules To Know Now
First, congratulations on winning that scholarship! You’ve made a great stride in paying for college and reducing your student debt. Now that tax time is approaching, you might find yourself asking, “Are scholarships taxable?” This is an excellent question! Most scholarships and grants are considered “free money” and not taxable, but there are exceptions. To…
Is Your Financial Aid Award Lower Than Expected?
March is here! We are all anticipating the arrival of spring and the longer days of sunshine. Along with dreaming of warmer weather, high school seniors are also anxiously waiting for their college acceptances and financial aid award letters. After the initial well-earned congrats and hurrahs, you and your student might be left a little…
How To Crush That Financial Aid Appeal Letter
The financial aid award letter from your favorite college has arrived, but the package isn’t what you expected. Don’t panic! Maybe it doesn’t reflect your current financial situation or a recent scholastic achievement; there could even have been a miscalculation when filing the FAFSA. What do you do? You CAN write a financial aid appeal letter…
New College Savings Updates And More!
Happy February! We hope you are accomplishing your resolutions and ready to express love to your valentine. Speaking of love, February is an excellent month to treasure your finances. If you want to make sure that your college funding plan is in stellar shape, give us a call at 360-818-7728 or just reply to this email!…
In-State Vs. Out-Of-State College: What’s The Best Option?
Whether your teen is narrowing down their top public college choices or waiting for acceptance letters to arrive, they’ll eventually have to make that all-important decision of, “Which college do I choose?” For many students, that includes choosing between an in-state college and out-of-state college. There are pros and cons for each public college option,…
What Is A 529 Plan And What You Need To Know About It
With the costs of a higher education continuing to rise, one college financial planning strategy many families use to invest in is a 529 plan. Authorized by Section 529 of the Internal Revenue Code, 529 plans are legally known as “qualified tuition plans,” and are “sponsored by states, state agencies or educational institutions.” 529 plans…