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

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


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

Pre-tax 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 this year to the free application for federal student aid, or Fafsa. The Department of Education has made changes to simplify the form and ensure more aid goes to those who need it most.

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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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