Review Category : Back to School

7 FAFSA Mistakes That Could Crush Getting FREE Money

In many parts of the country kids are already back at school and the rest of the children will be starting right after Labor Day.  While the college football season is kicking off, most families don’t realize that applying for free financial aid is literally right around the corner for 2018.   The problem is that most people don’t understand how the process actually works and often sell themselves short of getting free money that could help offset the growing cost of college.  Here are seven mistakes that could crush your ability to get free money for 2018. Fill out the FAFSA form on October 1st – If you are interested in getting the most possible money from the Free Application For Student Aid, then you must fill out the forms by October 1st.   Some of the financial awards are issued on a first come first serve basis, so when you fill out the form matters.  Some states and some colleges ...

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5 Ways To Pays For College Without Student Loans

The Economist reported in June 2014 that U.S. student loan debt exceeded $1.2 trillion, with over 7 million debtors in default. Public universities increased their fees by a total of 27% over the five years ending in 2012, or 20% adjusted for inflation. Public university students paid an average of almost $8,400 annually for in-state tuition, with out-of-state students paying more than $19,000. (source:Wikipedia).  With, costs rising out of control for four years of college, how can someone build a plan to pay for college without incurring student loans?   Seek out all and any scholarships – While this may sound like a “no duh” type statement, the reality is that most families are woefully unprepared when it comes to searching for scholarships and often think they will not get any at all if they make too much income. There are two great websites to begin with including fastweb.com and www.collegeboard.org which can help with starting you off on the track to ...

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One BIG 2017 Georgia 529 Plan Change For College

As the cost continues to rise for college education, the state of Georgia is stepping up for the residents of Georgia and offering a new increased tax deduction that can really help Georgia taxpayers. All Georgia single taxpayers may deduct up to $2,000 each year on behalf of any beneficiary regardless of their annual income. Beginning with returns filed in 2017, all Georgia joint taxpayers may now deduct up to $4,000 each year on behalf of any beneficiary regardless of their annual income. Please note that a transfer of funds from another state’s 529 plan is not eligible for the Georgia income tax deduction. Georgia tax forms refer to the Path2College 529 Plan as the “Georgia Higher Education Savings Plan” (GHESP); the Path2College 529 Plan is established by the GHESP. Contributions made during the tax year, or before the following year’s federal tax filing deadline are eligible for the deduction. State tax benefits offered in connection with the Path2College 529 ...

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Five Important Things You NEED To Know About FAFSA

Most people relish the idea of figuring out how to get some free aid to help their families when it comes to taking care of college education.  However, year in and year out, families make multiple mistakes when it comes to filling out the Free Application For Student Aid (FAFSA).  This year, FAFSA has made multiple changes that need your attention to ensure your family has the best opportunity to reach your goal of getting some cash.  Here are the smart money moves you need to know: The Start Date Is Much Earlier Applications officially can be filed October 1st – January 1st This is a permanent change within the FAFSA system. It Will Much More Simple For Pulling Tax Information FAFSA will now use a ‘prior-prior’ method. This means that they will really be using two years prior to give everyone a chance to fully complete their tax extension. Students applying for 2017-2018 tax year which would be the ...

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Why Do College Education Costs Defy Gravity?

In the homes of parents today in their 40’s and 50’s, the debate about how to pay for the rising cost of college has become the topic of conversation.  It isn’t just the fact that while the Government says inflation remains really low, most parents are experiencing that cash flow management is becoming more of a problem than asset management.   So, why do college education costs continue to defy gravity in this low inflation environment. More Non-Teaching Jobs – Higher education payrolls have also been rapidly adding more non-teaching jobs in recent years. Public and private colleges and universities expanded their payrolls by 28 percent between 2000 and 2012, more than 50 percent faster than the previous decade, according to an analysis of higher education staffing by the Delta Cost Project. There are more student programs offered on big campuses, continuing to increase the necessity of these non-teaching positions. Competition For Talent – Ultimately, price is dictated by the law ...

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7 Ways To Save Money On School Supplies

It’s school time again and the alarm clocks will begin to get set for early morning once again.   Traffic patterns to work will become heavier and the weekly routine will be in full swing.   Even though the summer days are fading, you’ll begin to get notices around what school supplies your child is required to bring.    This means it is time to be a smart shopper and make sure you save a few bucks when you get around to buying the student school supplies.  Here are seven quick ideas to stretch your dollar during the back to school season. Use Social Media– In this day and age all of the big stores from Office Depot, Staples, and Best Buy will have ads up on their Facebook business page.  You should check their Twitter feeds and most certainly at least Google the word ‘discount’ and the name of the store to see what coupons exist to trim down your back to ...

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Four Tax Free Weekend Shopping Tips

Back in 1996, New York legislature was the first to enact a statewide sales tax holiday through a tax-free week that began in January 1997.  Since then, thirteen different states have adopted the notion of this back to school tax free shopping weekend. (source: Wikipedia)   Saving money is normally music to our ears.  Saving on taxes at the same time we can get a discount on merchandise is surround sound for our ears.   There are several states that don’t currently impose a sales tax entirely, but here are my four smart money moves on how to take advantage of the tax-free shopping in the state of Georgia.  E-mail me if you want to know how to save money in your state at ted@oxygenfinancial.net. Computers– All computer and software items that are under $1,000 are exempt from sales tax during the tax-free weekend.   Be on the lookout for special deals from Apple, Dell, and also the major technology department stores.  It ...

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