Valuable insights from Lynn O’Shaughnessy
a nationally recognized college expert.
Saving for college
August 16, 2011
Why Saving for College Won’t Hurt Your Financial Aid Chances
Is your family going to qualify for financial aid? Many families I talk to assume that they won’t qualify for financial aid. Why are so many parents pessimistic about their chances for financial assistance? I think a lot of them assume that the money they’ve squirreled away in their college savings accounts will kill their chances. I find it ironic...
February 16, 2010
Saving for College with a Roth IRA: 8 Things You Need To Know
There’s been tons of media attention over the years on the best places to save for college. The 529 savings plan has grabbed the most attention. I’ve used 529 plans for both of my kids through Vanguard, but today, I want to suggest another potential way to save for college: a Roth IRA for your child. A Roth IRA won’t...
January 27, 2010
No. 1 FAFSA Myth: College Savers Are Penalized
I want to follow up on yesterday’s post that explained why saving for college almost never hurts a family’s chances for student aid. Yesterday I shared a chart that illustrates how colleges allow families to shelter a large chunk of their savings from FAFSA financial aid calculations. You can see the FAFSA chart by clicking on this link: 2 Biggest...