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Tuition always counts as a qualified expense as long as you’re paying it — if it’s paid by a tax-free scholarship, grant or fellowship, those costs don’t qualify for the tax deduction. Non ...
There’s one form prospective and current college students must submit in order to receive federal financial aid, and it looks a lot different than in prior years. The new FAFSA: What you need to ...
The federal financial aid form looks different in the 2024-25 school year. Here's what college students and parents need to know about the new FAFSA. There's a new FAFSA in 2024.
The US Department of Education made the FAFSA available earlier to more closely align the timing of the financial aid application process with the typical college application process. [7] The FAFSA Deadline Act in 2024 made the October availability date part of the law. [ 8 ]
The FAFSA is a relatively easy form to fill out, as it lets parents link to their previously filed tax returns to answer the financial questions. It has now been streamlined to just 36 questions ...
The federal government does not distribute aid directly to the student or the student's family; it goes through the college. Colleges use the student's federal student aid eligibility and combine it with state financial aid (if any) and their own aid to create a financial aid package for the student.
NEW YORK (AP) — A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of ...
The other type of tax benefit that comes into play are deductions for tuition and fees. Under the tuition and fees deduction, you're allowed to reduce your income by up to $4,000 in college ...
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