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Mark Kantrowitz - 3 Kalman Chany - 3 Chany - 2 Michael Green - 1 Green - 1 Rick Castellano - 1 Sallie Mae - 1 Castellano - 1
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Search resuls for: "Kalman Chany"


6 mentions found


☆ New FAFSA 'loophole' lets grandparents help pay for college without affecting financial aid eligibility
  + stars: | 2024-02-21 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +2 min
Under the old FAFSA rules, assets held in grandparent-owned 529 college savings plans were not reported on the form, but distributions from those accounts counted as untaxed student income. Still, the idea of a loophole is not entirely new, according to Kalman Chany, a financial aid consultant and author of The Princeton Review's "Paying for College." "There were always planning strategies that families could use when it came to third-party 529 plans," Chany said. "Even with this change, you still need to look before you leap if grandparents are going to help pay for college," Chany said. The other advantages of 529 plans
Persons: Mark Kantrowitz, Michael Green, Green, Kalman Chany, Chany Organizations: IRS, slims, Apollon Wealth Management, Princeton Locations: Charleston , North Carolina
☆ The new FAFSA will be available by Dec. 31 — what families need to know about the college financial aid form
  + stars: | 2023-12-04 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +3 min
The earlier families fill out the form, the better their chances are of receiving aid, since some financial aid is awarded on a first-come, first-served basis, or from programs with limited funds. However, that shouldn't prevent families from completing the FAFSA in the days that follow, he added. "While there may be some hiccups along the way, students and families should do what they need to do to file as soon as possible," he said. Up until now, "the multiple student adjustment has been the single most important data element affecting one's eligibility for federal student aid," Chany said. At the same time, the new FAFSA will raise the family income threshold, making more students eligible for federal need-based aid.
Persons: Rick Castellano, Sallie Mae, Castellano, What's, Kalman Chany, Chany, Pell Grant, Mark Kantrowitz Organizations: IRS, slims, Department, Education, Princeton, CNBC
☆ Parent borrowers have been shut out of Biden administration's recent student loan relief measures, but this loophole could help
  + stars: | 2023-11-08 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +1 min
After the Supreme Court rejected President Joe Biden's sweeping forgiveness plan earlier this year, the president announced a series of other relief measures for student loan borrowers. Already, Biden has managed to erase $127 billion in education debt for more than 3.5 million borrowers, largely through Public Service Loan Forgiveness and income-driven repayment plans. The most beneficial so far has been the new Saving on a Valuable Education repayment plan, which aims to get federal student loan borrowers the lowest monthly payment possible — even zero dollars. Yet parents who took out loans on behalf of their children are ineligible for all income-driven repayment plans, including SAVE. "Many of these provisions do not apply to parent borrowers," said Kalman Chany, a financial aid consultant and author of "Paying for College" from The Princeton Review.
Persons: Joe Biden's, Biden, Mark Kantrowitz, Kalman Chany Organizations: Public, Finance, Princeton
☆ College acceptance and financial aid letters are going out — how to understand your offers
  + stars: | 2023-03-18 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +5 min
watch nowUnderstanding the college financial aid letterOne of the first things to understand when assessing aid letters is the formula colleges use to come up with the expected family contribution. Kalman Chany financial aid consultantFurther, not all colleges include both direct and indirect expenses in the total "cost of attendance." As a rule of thumb, add an extra $4,000 for those indirect costs if they are not included in the aid offer, Chany said. Differentiate free vs. borrowed moneyIn most award letters, there are often several financial aid options, including grants, scholarships, work-study opportunities and student loans. If your circumstances are now different, that should be brought to the financial aid office's attention with documentation.
☆ From dual enrollment to course sharing, these 4 moves can help you save big on college costs
  + stars: | 2023-03-08 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +5 min
Take college courses in high schoolDual enrollment is a state-run program that allows students to take college-level classes, often through a local community college, while they are still in high school. As many as 3 in 10 community college students are in dual enrollment programs, according to the American Association of Community Colleges. Unlike Advanced Placement, the program in which high school students take courses and exams that could earn them college credit, dual enrollment credits are more likely to transfer. Over four years, early college programs cost about $3,800 more per student than traditional high school, according to one study. Try course sharingIf you are already enrolled in a four-year school, tapping community college courses can still be a worthwhile way to cut costs, a strategy known as course sharing.
☆ 3 strategies can get you more financial aid for college
  + stars: | 2023-02-27 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +3 min
Apply for financial aidIn ordinary years, high school graduates miss out on billions in federal grants because they don't apply for financial aid. Even now, many families haven't applied for financial aid. Financial aid is determined by income information that is not necessarily up to date. If your circumstances are now different, that should be brought to the financial aid office's attention with documentation. If the financial aid package from another comparable school was better, that is also worth documenting in an appeal.
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