Last Updated: February 8, 2016
by Mark Kantrowitz
You can save money on college through your federal income tax return. Download this helpful chart outlining the most recent education tax benefits or view it below. Feel free to share this chart with your friends or students.
Original Post Date: February 2nd, 2016
Last Updated: February 4, 2016
by Jessica Zdunek
Filling out the FAFSA may seem overwhelming at first. If you’re getting ready to fill out your FAFSA, don’t delay; the faster you submit it, the more aid you’re likely to receive.
One of the most important parts of filling out your FAFSA quickly and accurately is preparation. Here’s everything you’ll need to gather before you should get started.
What you’ll need
- Your social security number and your parents’ social security numbers
- Your driver’s license
- W-2 forms
- Your parents’ federal tax return from the previous year if you’re applying for aid for the 2016-2017 academic year. Don’t wait to fill out the FAFSA if you don’t have this yet – you can provide an estimate to get the FAFSA in quickly and adjust it at a later date. If you’re applying for aid for the 2017-2018 school year or later, you use the tax returns from two years ago.
- Current bank statements
- Stock, bond, mutual fund, and investment information
- Your alien registration card or permanent resident card (for non-U.S. citizens)
- Your FSA ID
- Child support information, if your parents are divorced
Original Post Date: January 29th, 2016
Last Updated: February 2, 2016
by Mark Kantrowitz
Each year, millions of students and parents use the IRS Data Retrieval Tool to transfer income and tax information from their federal income tax returns into the Free Application for Federal Student Aid (FAFSA). This saves them time and reduces the likelihood that the FAFSA will be selected for verification. It also improves the accuracy of the FAFSA. Read the rest of this entry »
Original Post Date: January 28th, 2016