Saving More in a 401(k) Can Now Boost Your College Financial Aid

Date:

Faced with the gargantuan cost of higher education, Americans often have to choose between securing their children’s future or their own. A new rule change makes it slightly easier to do both.

Pretax contributions made to retirement accounts will no longer count as income in the formula that measures a family’s ability to pay for college, under changes to this year’s Free Application for Federal Student Aid, or Fafsa. The Education Department made the changes to simplify the form and ensure more aid goes to those who need it most. 

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Share post:

Subscribe

Popular

More like this
Related

Big Machine Music City Grand Prix announces race schedule, entertainment

NASHVILLE, Tenn. (WTVF) — The Big Machine Music City...

Over 28,000 new cars delivered despite economic headwinds: Finance Minister

Egypt’s Finance Minister Mohamed Maait announced the successful delivery...

London hospitals hackers publish stolen blood test data

A gang of cyber criminals causing huge disruption to...