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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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