Get schooled on financial aid – whatever your income level
Did you know that during the 2013-2014 academic year more than $238.3 billion in financial aid (grants, federal loans, federal work-study, and federal tax credits and deductions) was awarded to undergraduate and graduate students? Did you realize that the recipients of all this financial aid came from households spanning a wide range of household incomes? During that same academic year, the average amount of aid for a full-time college student was $14,180, including $8,080 in grants (money that does not have to be repaid) and $4,840 in federal loans.
Does the thought of asking your aging parents about the way they handle their household finances — or how they would feel about moving to a retirement community or assisted living facility — fill you with anxiety? You are not alone.
January 15, 2016 Last day to pay fourth-quarter 2015 federal individual estimated income