For many families, financial aid programs help make higher education attainable. The first step in applying for aid is to complete the Free Application for Federal Student Aid (FAFSA).
Read MoreA 529 plan is a tax-deferred account with contributions invested in a selection of mutual funds or exchange-traded funds. Later, those assets can be withdrawn tax free if used for qualified expenses. These contributions are not deductible on your federal tax return, but many states offer a state tax deduction for contributions made to 529 plans.
Read MoreA student loan debt clock at finaid.org estimates current outstanding student loan debt — including both federal and private student loans — at over $1.4 trillion. But it's not just millennials who are racking up this debt.
Read MoreTo be eligible for federal loan consolidation, you must have at least one federal student loan in grace, repayment, deferment, or default status. Once you consolidate your loans, you will have a single lender--the U.S. Department of Education--and a single monthly payment.
Read MoreCollege students and their parents dodged a major bullet with the Tax Cuts and Jobs Act of 2017. Initial drafts of the bill included the elimination of Coverdell Education Savings Accounts, the Lifetime Learning Credit, and the student loan interest deduction, along with the taxation of tuition waivers, which are used primarily by graduate students and college employees.
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