Questions tagged [college]

Questions related to saving and paying for a college education

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3
votes
2answers
309 views

Paying Off Student Debt Quickly

I'm 19 and transferred to a university. I left my community college with no debt. At my university due to my living situations I need to work full time. With that being said I have to have the vast ...
3
votes
2answers
124 views

Military Separation

I am 22 years old and in the midst of separating from the Marines. I need some advice on how to manage my assets and best prepare for my future. In the last year I began playing around with ...
3
votes
1answer
89 views

Is there a standard or best practice way to handle money from an expiring UTMA account?

I have recently turned 21, and the UTMA account that held my college fund is being turned over to me. I have no serious experience with personal finance or investing, and I just don't know what to do ...
3
votes
2answers
426 views

Where to borrow money between college graduation and employment?

I finally finished my degree after the summer program and have my diploma and was wondering where I could borrow money while I look for a job? Job interviews are not cheap, especially if a flight is ...
3
votes
2answers
722 views

Federal Aid and Tuition Reimbursement at work

My situation is the following: my wife and I are adults who are trying to complete our first bachelor degrees respectively (we started our degrees and dropped out years ago) so far, we both have been ...
3
votes
1answer
2k views

How much money should a “fully-funded” 529 account contain to pay for a student's education?

What is the maximum, reasonable amount one might put into a 529 college savings account for the benefit of a single future student? 529 accounts have maximum allowed balances between $235k and $400k ...
3
votes
1answer
482 views

529 - Grandparent/Extended Family Contribution - New York State

My first child is due in Mid - April (!!!!). I want to set up a 529 for him and I am curious if grandparents and/or extended family can contribute to it tax free? or is it a tax write off? We live ...
3
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2answers
93 views

What are some sites that offer decent deals on college textbooks?

Textbooks are quite expensive these days. I know of half.com, but I don't know of anything else.
3
votes
1answer
132 views

What is a life establishment fund?

I was talking to someone regarding saving for college education. I mentioned that I was putting money into a 529 account but wasn't happy with this. My kids my not decide to go to college and ...
3
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0answers
100 views

How can I figure what fraction of college savings should be in my name vs. my child's name?

I am saving for kids' college expenses and heard (somewhere?) that one's expected contribution for college will be calculated at 100% of the child's assets and 7% of the parents' assets. (I believe it ...
3
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0answers
64 views

Can I take a Tuition and Fees Deduction when receiving third party assistance?

My wife and I took the Tuition and Fees Deduction in 2015 after receiving a 1098-T from her accredited University that had box 2 (Amounts billed for qualified tuition and related expenses) as $5603.80....
2
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5answers
730 views

How can I pay for school to finish my degree when I can't get a student loan and have bad credit?

Situation I've been told that I've maxed out on my FAFSA student loans, and have bad credit and can't get a private loan. But I need to borrow money to go to school. Problem I need to get back to ...
2
votes
2answers
118 views

Uniform Gift to Minors Act - Which parent has tax implications?

I am looking to start a college savings fund for my daughter and am debating between the 529 and UGMA. I want to be able to save for her and if her grandparents pay for her college (very possible) or ...
2
votes
2answers
956 views

How should I specify income that was saved abroad on my children's FAFSA?

I lived and worked in London (even though I'm an American) for the last 5 years, and now I'll be heading back to the states. My children are about to start college and I have money saved in an ...
2
votes
2answers
85 views

Multiple 529 accounts vs one generic on my name?

First time investing. Have four children 6 and under. I wish to start putting money aside for them to go to college (or other things that might come up, like marriage, etc.). One idea I have: instead ...
2
votes
2answers
557 views

Option for health insurance coverage when going back to school in 30s

Specifically for health insurance coverage: What are ones options when going back to school full-time in their 30s? Do schools provide any sort of coverage plans, if so are how do they compare to a ...
2
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1answer
157 views

Does it make sense for me to start a 529 college plan for my kids

My kids are 11 and 15. I've neglected to save any money for college for them, but I want to start now. Given that I am starting out this late, does the 529 college make sense at this stage? If I ...
2
votes
1answer
517 views

What are the pros and cons of setting up a 529 plan for myself?

I currently work full-time and I am going to graduate school part-time. I was wondering what the pros and cons of setting up a tax exempt college account for myself were (I believe it's a 529). The ...
2
votes
1answer
150 views

As a parent of a high school student, what should my short-term cash policy be to optimize my college costs?

My daughter will be applying to colleges in 1 year. Where should I keep my money to optimize my college financial aid eligibility? (parent-plus loans? something else?) E.g., should I keep as much as ...
2
votes
3answers
153 views

College savings using plain mutual funds instead of 529 plan?

I have two young children and am thinking about how to best save for their futures. I have read a lot about 529s and mutual funds (index, tax efficient ones) and was trying to get an outside opinion. ...
2
votes
1answer
48 views

Choosing a 529 (PA Resident)

I've spent a few hours trying to figure out which state to use for a 529 for my child's college. What I would really like is "What's the best state for me to choose?", but I'll settle for &...
2
votes
2answers
83 views

What should be kept for college expense tracking

Parent of a Freshman - looking at AOTC for 2017 taxes and planning for 2018, haven't gotten good advice on how to prepare for this year's taxes, getting an extension, and looking for a list of ...
2
votes
1answer
182 views

529 College Savings Plans - How flexible is it, and can I withdraw (and pay taxes) if unused? [duplicate]

My US-born daughter has triple citizenship - Brazil, US and UK. We live in Texas and I would like to start saving for her education. My wife and I are also considering sending her to private ...
2
votes
1answer
130 views

Use IRA to pay back parents' college loan?

I know that IRAs can be used penalty free to pay for qualified college expenses for our children. We are presently in the AMT range, causing an effective 35% marginal tax rate, and would like to ...
2
votes
2answers
358 views

College funds - is it too late to open a 529?

We are immigrated parents and our daughter will be going to college in 3 years. What's the best option if we want to start saving for her college education? I would like to have an account with high ...
2
votes
1answer
118 views

Receive Multiple Grants?

Is it possible to receive multiple grants? I was approved for a TAP grant. But is it possible to also get a Pell grant, FSEOG grant, LEAP?
2
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1answer
166 views

Can subsidized and unsubsidized Stafford loans be repaid independently of each other?

For an undergraduate student in the U.S., Stafford loans are offered to students and may contain a portion that is subsidized and another portion that is not, both in a single year. Can the ...
2
votes
2answers
136 views

Short-Term Credit for College Payments

I'm in somewhat of an odd situation w.r.t. my college tuition payments. My school bills me half of the annual tuition amount before every semester. However, my college funds are in an annunity that ...
2
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0answers
28 views

Understanding the effect of parent PLUS loan on the parent's credit score

I am helping a family navigate paying for college and I have a question that I cannot seem to answer by searching this site or any of the federal sites. Suppose the mom takes out a Parent PLUS loan ...
2
votes
1answer
78 views

Keep in state tuition when relocating to another state

My wife and I have lived in NC state for more than 10 years. I enrolled in an online program in the state university for continuing education one year ago. And eventually I will get a degree in 3 or 4 ...
1
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4answers
484 views

28 yr old male. Dropout Self-Taught Programmer. Earning $20k a month. Should I go back to college?

I'm a 28 year old programmer currently living in a Balkan country. Back when I started college on computer sci my family did not have enough finances to support me plus I did not judge the university ...
1
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1answer
55 views

Is money in a UTMA considered when a student applies for financial aid?

If a student is applying to college and requesting student aid, but has a substantial amount of money in a UTMA account, can that negatively affect their chances to receive financial aid? If so, is ...
1
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1answer
88 views

Paying for College with New President

Question specifically about US economy. I have a kid in college and so far I have been paying directly for his fees. However, with the recent election victory, I am beginning to think this is a dumb ...
1
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3answers
214 views

Is it reasonable to purchase a home as a college student?

I'm a student the University of Louisville and I'm debating trying to buy a house in the area. Essentially, instead of paying rent, I would be paying a mortgage. I currently only have about $5k saved ...
1
vote
1answer
155 views

What can I do to pay off Summer Tuition balance?

My financial situation breaks down like this. I currently have 3 semesters to graduation but I have a hold preventing me from taking classes because I owe a balance for tuition totaling in $4,114.74. ...
1
vote
1answer
74 views

How can I find scholarships for college in my area?

There are tons of scholarship websites listed on Google, but they don't seen to contain the same data. Is there someplace I can go to view a more comprehensive database? I'm especially interested in ...
1
vote
1answer
162 views

Child is on the way, invest for college and car fund options - opinions

I have a baby on the way and own my own business. Because I have my own business my income is volatile every month, and don't want to count on contributing monthly for 20 years for my child college ...
1
vote
1answer
118 views

FAFSA, internship and a new house

I completed 2 internship this year and my total income was roughly 24K. I had 7k or so withheld. I wrote checks to my parents:5k to contribute with the minimum to receive a mortgage loan required and ...
1
vote
2answers
257 views

How can I fund my US college education?

How can I fund my college education if I'm not given scholarship and family wouldn't be able to take loan? How did you do it in your time? I'd appreciate any suggestions !
1
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0answers
75 views

W8-BEN form for Indian student pursuing PhD in USA (NJ)

I got admitted to Rutgers as a PhD student and I'd be getting around $25.9k for my TA-ship each year. My department asked me to fill the W8-BEN form but I got stuck while filling fields 5 (SSN) , 7 (...
0
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1answer
128 views

Should a Low Income College Student Buy Insurance Through the Obamacare Marketplace?

I am an American college student. For 2016, I've made around $8,000 working. My parents, who are not American, and thus live and work overseas have been paying my rent which when I add the money they'...
0
votes
1answer
117 views

Is an interest-free loan to a charity an asset when applying for financial aid

We have an opportunity to sell our house for a great deal more than we paid for it. We plan to buy another house but will have $50,000 to $100,000 left in cash. We also have children in college for ...
0
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1answer
25 views

Can I benefit from a liquidation event if I use the funds to pay off my spouse's student loans?

I am expecting some liquidity on my NSO (Non-qualified Stock Options) and ISO ( Incentive Stock Options) with current company. I have heard of 529 for college fund. Is this something I could use to ...
0
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0answers
43 views

How should I record a reimbursement for college tuition?

My dad just gave me $4200 to pay for the college semester, and he expects nothing in return. I would like to correctly record this using double-entry bookkeeping. Normally, I would just pay for ...
0
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0answers
67 views

Should I sell investments to pay for grad school?

I'm planning to attend graduate school (USA), which will cost around 200k over 3 years. I have about 200k in highly appreciated stock (basis average of 100k, long-term gain) in a personal investment ...
0
votes
0answers
23 views

Beta of portfolio containing stocks and risk free assets

(c) Tilly Tiepy has an equally weighted portfolio comprising 30 stocks and a risk free asset. The average beta of the stocks of 1.2. Tilly has half the value of her portfolio in treasury (exchequer) ...
0
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1answer
118 views

Do I have a time limit on my financial aid if I'm only using Pell Grants

I am enrolled in an Associates of Applied Science degree at community college. My grants have been enough to pay for the credit hours, so I have not taken out direct loans. Conversation wise, people ...
-1
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3answers
2k views

Buying new car at 18 [duplicate]

I am 18 years old and a freshman in college living at home. I have 0 expenses except $3,000 a year for college and gas for my current car. I am currently looking into purchasing a brand new honda ...
-1
votes
3answers
187 views

Should I Invest While Attending College?

Should I invest a portion of my summer job income this summer, or should I save it all to help pay for my Freshman year in college? I figure since I'm still living at home, it would be best to utilize ...
-1
votes
1answer
158 views

Recent College grad in need of car

I am a recent college grad with a salary around 48k/yr at a very stable job. When I began college my father leased a 2013 Hyundai Sonata for me with a 208/monthly payment. My lease is about to be up ...