New college students will be navigating significant changes to student loans.
Education
American Opportunity Credit
What is it? Definition The American Opportunity credit (formerly the Hope credit) is an education tax credit that covers a maximum of $2,500 of a student's qualified tuition and related expenses for each of the first four years of a student's post-secondary education...
529 College Savings Plans
529 savings plans are tax-advantaged education savings vehicles and one of the most common ways to save for college today. Much like the way 401(k) plans changed the world of retirement savings a few decades ago, 529 savings plans have changed the world of education savings.
How will I ever pay off my student loans?
Repaying student loans is an important financial obligation. But doing so can take many years of dedication and sacrifice.
FAFSA Glitches Delay College Financial Aid Awards for 2024-25
Due to 2024-25 FAFSA rollout and processing delays, students may receive their college financial aid packages late this spring for the next school year.
Should You Consolidate Your Student Loans? What to Know Before Payments Resume
About 27 million student loan borrowers are bracing for monthly payments on federal loans to resume now that a pause introduced during the pandemic is set to end.
4 Steps To Plan For Repaying Your Student Loans Once The Pause Ends
Thirty-seven million student loan borrowers will be required to resume their monthly payments in October, more than three years after the federal government paused them due to Covid-19.
Should I save for college in my name or my child’s name?
There are three potential drawbacks to saving in your child’s name: the kiddie tax, federal financial aid rules, and control issues.
How can I protect myself against identity theft?
The chance that someone will assume your identity to open fraudulent bank or credit accounts is increasing as thieves become more sophisticated. The best way to protect yourself is to try to prevent this from happening in the first place.
Are my student loan payments tax deductible?
Your actual student loan payments aren't deductible, but the interest portion might be, thanks to the student loan interest deduction. In 2022, the maximum deduction is $2,500. You don't need to itemize to claim this deduction. To qualify, you must meet a few...