Back to School
Back to school means college for one of the Frank kids. And college, as we've all heard, is expensive. Here are some tips and tricks for folks into, in and just out of college. For a more complete article, click here.
- Apply to for financial aid-regardless of whether or not you think you qualify. The student aid program, FAFSA, can help a variety of folks.
- Save ahead using college funding plans. The popular 529 plan can offer state income tax deductions and grow and be used without a tax burden.
- Choose your school wisely. Be ready to change your mind. Don't dig in your heels. Instead, be open to a wide variety of schools and settings. Large or small? What environment best fits your learning style?
- Negotiate with the school. More often than not, you might be able to shave some money off tuition costs.
- Get residency. If you're going to an out-of-state school, ask what it takes to become a resident of that state and consider doing it. This could save thousands!
- Work study programs-usually less work and better pay than outside jobs.
- American Opportunity Credit and Lifetime Learning Credit programs-could provide hundreds, or thousands, of dollars for current students.
- Talk to a financial planner and put together a loan payback plan.
- Research loan forgiveness programs from various employers, both private and public.
- Deduct the interest you pay on student loans, as long as your income (AGI) is less than $75,000.
For a more complete list of great college ideas, click here.