News & Articles

Be Careful When Saving for Your Kids' Education

Posted on Wed, Jan 30, 2019

Here's a little-known secret for parents planning to send their children to college in the future: Some of the tax-saving moves you make now could hurt your student's chances for getting financial aid later.

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Tags: Retirement Accounts, College Savings Plan Accounts, Financial Aid

Points to Consider Before Making Gifts to Children

Posted on Tue, Dec 27, 2016

In the world of college financial aid, good estate planning strategies often result in less financial aid for your child or grandchild. For instance, a strategy included in many estate plans involves making annual tax-free gifts to children. Annual gifts can be made, up to $14,000 or $28,000 if the gift is split with your spouse, to any number of individuals with no gift-tax consequences (unchanged from 2016). Once the gift is made, the assets are removed from your taxable estate and any income on the gifts is taxable to the recipient.

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Tags: Gifts, Estate, Children, Financial Aid

How College Financial Aid Benefits Are Taxed

Posted on Mon, Jul 20, 2015

There's no doubt about it ... college is expensive. At top-rated private universities, the annual cost can be $55,000 and up. Some public schools charge out-of-state students $40,000 and up. With any luck, however, your child or grandchild will qualify for financial aid. These days, a surprisingly high percentage of students do.

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Tags: Tax, EHTC Article, Newsletter, College Expenses, Financial Aid

How College Financial Aid Benefits are Taxed

Posted on Wed, Dec 24, 2014

There's no doubt about it ... college is expensive. At top-rated private universities, the annual cost can be $55,000 and up. Some public schools charge out-of-state students $40,000 and up. With any luck, however, your child or grandchild will qualify for financial aid. These days, a surprisingly high percentage of students do.

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Tags: Tax, EHTC Article, Tuition, Expenses, Articles, Taxes, Financial Aid, Qualified Education Expenses, Education

Managing the High Cost of Higher Education

Posted on Wed, Jun 18, 2014
  Higher education is the key to a brighter future -- but the cost of pursuing undergraduate and graduate degrees is more than many Americans can afford. The cost for one year of tuition and fees varies widely among colleges. The average cost of tuition and fees for the 2013-2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities, according to the College Board.
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Tags: EHTC Article, student loans, Section 529 Plans, Education Credits, Higher Education, Articles, Education costs, Financial Aid