CFAA College Financial Aid Advisors

DECEMBER 11, 2023

As we wait, it seems like the perfect time to review changes to the 2024-2025 FAFSA that will help you maximize financial aid -and your time filling out the forms! As a reminder, the FAFSA gathers information about your financial needs so your student can be offered work-study, grants, and student loans.

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Student Loan Planner

MARCH 1, 2024

For many borrowers, this could mean that you don't have to share information about your current income until mid to late 2025. Borrowers who were asked to recertify already… The post IDR Recertification Deadline Delayed Until Late 2024: What it Means For You appeared first on Student Loan Planner.

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NCLC Student Loan Borrower Assistance

JULY 18, 2023

On Friday, July 14th, the Department of Education announced that it was sending notice to 804,000 borrowers who had spent 20 to 25 years in repayment on their federal student loans that their remaining balance would be canceled. However, they may have to report the cancellation for state tax purposes in a handful of states.

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COE

MARCH 10, 2023

Yesterday, the Biden-Harris Administration released its budget request to Congress for Fiscal Year 2024 (Program Year 2024-2025). billion in FY24. This proposal asks Congress to provide a $107 million (or 9%) funding increase for TRIO, for a total proposed appropriation of $1.3 billion in FY24.

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CFAA College Financial Aid Advisors

MAY 6, 2024

The 2024-2025 application cycle has been absolutely wild – so don’t take this year as an example of what the cycle is like. These delays are impacting all students, as they feel more rushed to make decisions about what to do – but low-income and first-generation students may feel this rush more deeply.

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COE

MARCH 11, 2024

However, among several requests for flat or even decreased funding in the education arena, we are pleased to see that the President’s budget includes an increase of $20 million for the Federal TRIO Programs in Fiscal Year 2025 (FY25), which would fund TRIO during Program Year 2025-2026.

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CFAA College Financial Aid Advisors

FEBRUARY 19, 2024

The application for the 2025-2026 cycle should be online October 1, 2024. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid.

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CFAA College Financial Aid Advisors

OCTOBER 24, 2023

That means on the 2024-2025 FAFSA, numbers will be gathered from your 2022 tax return. Who We Are Jodi helps with the financial aid process, from completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options.

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Diverse: Issues in Higher Education

SEPTEMBER 19, 2023

Billionaire Robert Smith’s pledge to pay off $35 million in student loan debt for the Morehouse Graduating Class of 2019 was not only transformational and liberating for those directly impacted, but it would also go on to cause a catalytic movement that resulted in several individuals to follow his lead.

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Scholly

APRIL 19, 2022

Do you already know that when the national pause on student loan payments ends you’ll be faced with monthly payments you can’t afford? Want a solution that leads to affordable payments and potentially even student loan forgiveness? You may also consider refinancing your student loans.

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CFAA College Financial Aid Advisors

DECEMBER 3, 2023

Here’s what we do know about the updated FAFSA and your student’s college financial aid process so far: Applicants will be able to pull data from their tax returns. An exciting new update for the 2024-2025 FAFSA is that you’ll be able to automatically retrieve income from your taxes and the IRS.

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CFAA College Financial Aid Advisors

OCTOBER 23, 2023

It is best to file as early as possible, which will be in December for the 2024-2025 application cycle. Federal Deadline Technically you do have until June 30 to submit the FAFSA, but many financial aid funds could be deleted by then. There are also private scholarships which can provide additional money for your education.

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Student Loan Planner

MARCH 22, 2024

President Biden has taken several steps this month to push for reforms for student loan borrowers. Meanwhile, Biden… The post Scrap Loan Fees, Make Forgiveness Tax-Free and Approve More Relief: A Look at Biden’s 2025 Budget Proposal appeared first on Student Loan Planner.

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Student Loan Hero

NOVEMBER 4, 2022

Note that the government has paused all repayment on federally held student loans through the end of 2022, with no interest to be charged during that period and no loans to be held delinquent or in default. * * *. Why real student loan forgiveness can take a while.

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Student Loan Planner

MARCH 12, 2024

If President Biden wants to cancel debt, he’s racing against the clock thanks to student loan cancellation and forgiveness becoming taxable again very soon. The American Rescue Plan made student loan forgiveness tax-free, but only until December 31, 2025.

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CFAA College Financial Aid Advisors

JANUARY 3, 2024

However, with the release of the 2024-2025 FAFSA, families, students, and financial aid offices alike are hopeful that the once complicated application will be easier to complete and process. Many families often decide to skip the entire process together, even though it’s necessary to file in order to receive financial aid.

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Student Loan Hero

NOVEMBER 22, 2022

Student loan forgiveness can wipe out part or all of your student loan debt. The big news on the student loan forgiveness front is that the federal government plans to forgive up to $10,000 in federally held student debt, or up to $20,000 if you previously received a Pell Grant. ( See more below ).

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Scholarship America

MAY 15, 2023

What about student loan repayments and forgiveness? While much is up in the air about student loan forgiveness, we do know that all student loans forgiven by December 31, 2025 will not be taxed. The tax-free status is also extended to employer provided student loan repayment assistance programs.

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CFAA College Financial Aid Advisors

DECEMBER 8, 2023

In the past years, families with more than one student in college received benefits. Starting with the 2024-2025 FAFSA cycle, that will no longer be the case. Families with several students in college at the same time will qualify for less aid overall. This is a great improvement for families in this situation!

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COE

MARCH 23, 2024

When combined with mandatory funding, the agreement continues to support a total maximum Pell Grant award of $7,395 for the 2024-2025 award year. Similarly, GEAR UP received level funding at $388 million. Congress continued funding the Federal Work-Study program at $1.2

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COE

MARCH 20, 2024

She stated firmly, “We are asking for a $68 million increase for TRIO for FY25, which will fund our work in Program Year 2025-2026.” She stated firmly, “We are asking for a $68 million increase for TRIO for FY25, which will fund our work in Program Year 2025-2026.”

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Diverse: Issues in Higher Education

MARCH 15, 2024

Jaylon Herbin The “loan origination” fee for a federal student loan, for example, can range from 1% for undergraduate loans to 4% for graduate and parent loans — potentially adding hundreds or thousands of dollars to students’ debt.

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COE

JUNE 7, 2023

Congress Suspends Debt Ceiling and Sets Spending Caps June 7, 2023 — by Diane Shust We must demonstrate to them the successes of our students, the needs of our programs, and the worth of increasing funding for Federal TRIO Programs. Specifically, the law allows for an increase of 3.3%

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College Planners of America

APRIL 15, 2024

On April 8, President Biden released the details of his new student loan debt forgiveness plan. Although the new regulations aren’t expected to fully take effect until July, 2025, the ED is considering taking action to expedite parts of the plan. Can Cancelled Loans be Reinstated? Department of Education (ED).

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