Applying for College & Financial Aid  October 2018
 

Applying for College & Financial Aid October 2018

 

Iowa College Aid Insider: Applying for College & Financial Aid (October 2018)

FAFSA issues? Try these tips

Monday was the first day to file the 2019-20 FAFSA form. Unfortunately, FAFSA.gov experienced technical difficulties on opening day. If you experience issues, Federal Student Aid recommends you try the following: 

  • Browser issues: Clear your browser cache, and if that doesn’t work, try a different browser.
     
  • IRS Data Retrieval Tool not working on mobile app: To minimize the chance of being selected for verification, use the Data Retrieval Tool on the website (fafsa.gov) instead of entering tax data manually through the app.
     
  • Can’t find the 2019-20 paper application: Click these links to the English and Spanish PDFs. Both can also be found in the Forms & Worksheets section on FSA’s Resources page (studentaid.ed.gov/sa/resources).
     
  • Make sure you have the latest version of the myStudentAid app: For iOS users: https://apple.co/2DMjUMa. For Android users: http://bit.ly/2RgVqNB.

College Savings Iowa is giving away savings accounts

College Savings Iowa is celebrating its 20th anniversary by giving away nine 529 College Savings Iowa accounts. This giveaway is open until October 31 at Iowa529Contest.com

College Savings Iowa will give away four $5,000 accounts and five $529 accounts and will notify the winners in early November. The giveaway is open to all residents who have a child or grandchild under 18 years old, even if they already have a College Savings Iowa account.

A 529 college savings plan is a tax-advantaged investment account sponsored by the State of Iowa that you can use to save for qualified education expenses. Learn more at CollegeSavingsIowa.com.

Pros and cons of income-share agreements

A few universities are beginning to offer “income-share agreements” as a way to pay for college. Students who sign these contracts pay nothing up-front but agree to pay a percentage of their earnings for a fixed period after graduation. Among the schools that have announced such plans are Purdue University, Colorado Mountain College and Clarkson University.

Students who enter these agreements might be able to pay less money overall. The programs could also lower the risk of default. Because these programs are relatively new and largely unregulated, however, questions remain about whether they are a good deal for students. Among the concerns:

  • Non-accredited academic institutions don’t have to adhere to external standards, so some are nervous that these businesses might take advantage of students.
  • There’s little consensus about how much is fair to reap from program graduates and for how long.
  • There isn’t much data about how people do once they through the programs, which makes it difficult for prospective students to evaluate them.
10/03/2018 6:49 PM |Add a comment
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