Author: administración

There are many benefits to 529 college savings plans. They provide tax and financial aid advantages to families who save for college. However, the 529 plan does impact your financial aid and you likely need to report it on your FAFSA.Saving for college reduces student loan debt at graduation and increases college choice. But it can also affect eligibility for need-based financial aid. Depending on who owns the 529 plan account, a 529 college savings plan may affect either the income or the assets reported on the Free Application for Federal Student Aid (FAFSA). In this guide, we’ll explore how…

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Key PointsIDR application backlog continued to drop, with just 626,412 outstanding applications to be processed.No income-driven repayment discharges were processed in January, even though more than 22,000 borrowers were identified as eligible.Public Service Loan Forgiveness buyback backlog continued to grow, with 86,520 applications pending and decisions covering only a fraction of incoming requests. The U.S. Department of Education’s latest court-ordered status report (PDF) shows an improvement in income-driven repayment plan application processing, but more concern around loan forgiveness processing.The report showed that no income-based repayment discharges were processed in January, and a mounting backlog of Public Service Loan Forgiveness buyback…

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