Let’s face the fact that attending to college or a university is a massive responsibility – more so, finishing it. Regardless if you have one kid or more who have to attend to college, the discussions about financials remained an integral part of the higher educational journey. This is the same reason why there are some parents who are visiting the official site to buy tradelines wholesale.
Of course, there are alternatives to this option such as completing FAFSA, figuring out the true cost associated of going to college, weighing the benefits and drawbacks of using financial aids, taking advantage of tax credits and so forth.
You probably are eager to know more about these options. Well if you do, I highly recommend that you stick until the end of this article.
So what is FAFSA?
FAFSA or Free Application for Federal Student Aid is your single best weapon for getting the elusive financial aid document. Completing this free form will make students to be eligible for loans, grants as well as Federal Work-Study.
The great thing about this is that, everything’s administered by Federal Student Aid which is the biggest student financial aid provider in the whole state of US.
The Cost of Attending College
Depending on the school, your tuition fee is going to vary. US Department of Education’s College Affordability and Transparency Center have reports that similar 4-year course programs and private institutions significantly differ in their tuition by as much as $47k.
These differences are applicable to:
- Board and room
- Personal or transportation costs
Look at Every Angle
Financial aid letters do include combination of free money like grants and scholarships that don’t have to be paid back. Then again, there are loans that have to be paid after graduation. It’s more like a study now pay later program. It is essential to strike a conversation with the student in order to learn whether or not the remaining costs would be covered.
What about Tax Credits?
Currently, there are a couple of tax credits that are related to your expenses in higher education. It will be strongly recommended to perform thorough research regarding these tax credits to learn how it can better assist you.
As a quick glimpse however, American Opportunity Tax Credit enables a max credit of 2,500 dollars per every eligible student whose gross income is equal or less than $80k or married couples with combined income of $160k or less.