Learning Library Quick Answers Financial Aid Planning

If a student takes out a loan, can the parent pay the interest on them and write it off on taxes?


Answer: It is the primary borrower who can write the interest off if eligible. So, no, the parents cannot take the deduction for l....

If a trade school has approval from a licensing board, can a sibling claim 2 in college when the sibling files the FAFSA?


Scenario: A client is attendinga tradeschool that is not a Federal School code, but is approved by a licensing board.If a client a....

If a trust owns a 529 that was set up by the grandparents is this a countable asset for financial aid?


Answer: No, if someone other than the parent or child owns the 529, it is not assessed.....

If an adult client is going back to college to earn a 2nd bachelors degree, what is the maximum amount of Stafford loans they can receive?


Question: If an adult client is going back to college to earn a 2nd bachelors degree, what is the maximum amount of Stafford loans....

If my family has more than one student in college, will we be eligible for more financial aid?


Answer: Yes you will. The expected family contribution is divided by the number of family members who are enrolled in college.....