As we approach the pinnacle of tax season, we’re hearing a lot from taxpayers about the size of their refunds or the size of their bills—for some, much bigger or much smaller than anticipated due to tax reform. The Tax Cuts and Jobs Act, passed at the end of 2017, was one of the most sweeping reforms of our tax code in decades, and repercussions of the bill—both positive and negative—will likely be felt through all sectors of our economy for years to come. We thought readers of The Insider, however, may be particularly interested in taking a look back at the education provisions of the bill—how tax reform is affecting students, parents, and the educational institutions that support them. We’ve broken down the key education provisions of the Tax Cuts and Jobs Act into categories, based upon the stakeholders most affected, though impacts will certainly be felt across stakeholder groups and through society at large.
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With the April 15^th tax filing deadline right around the corner, you want to make sure that you’re taking advantage of every tax benefit you can get. And if you’re a parent paying for college, you may be eligible to claim an education tax break (or, potentially, multiple breaks, depending upon how many kids you have, how you’re paying for college, and a number of other factors). Check out the breakdown of the most common college tax breaks on the Edmit blog. Continue reading

The college decision can be a stressful one. It feels like your life hangs in the balance, and if you don’t attend the “right” school, you’re setting yourself up for a lifetime of failure.

Plenty of research has shown, however, that this is simply not the case. Continue reading

If you wouldn’t pay full price for a car or a house, why do you think you need to pay full price for college? While many colleges may not want to let you in on this little secret, their price is often negotiable. If you’ve been offered a scholarship by a college, that offer is a good sign that they really want you to enroll. Use this insight to your advantage, and try to negotiate an increase in your scholarship offer. How, though, should you approach this negotiation? Find out from former Boston University and Tufts University financial aid officer, Shannon Vasconcelos, in her new article on scholarship negotiation on the Edmit blog. Continue reading

As high school seniors await admissions and financial aid decisions, and juniors begin to think about the college application process, all of these students would be wise to take some time to look for college scholarships. How should a student approach the scholarship search process? Find out in the latest installment of our video series, We Can Explain. In this video, we look at the “Top 3 Ways to Find Scholarships,” streamlining what can be an overwhelming search process into manageable steps. Continue reading

As early round admission decisions start to roll in, students across the country are receiving both good (accepted) and bad (denied) news. And along with these clear-cut outcomes, many students are receiving some ambiguous news: yes, you’ve been accepted, but no, we are not awarding you enough financial aid to actually allow you to attend. This type of result can actually be the worst of all for families, as it often puts parents in the heartbreaking position of having to say no to their child’s dream school. Is there, however, any other option? Continue reading

You’ll often hear it said that millions in dollars in scholarship funding goes unclaimed every year, and while this statement is (at worst) out of date and (at best) intentionally misleading, it is true that there are thousands of private scholarships available from organizations outside of the colleges and the government (the two best sources of college financial aid) that you do not want to leave on the table. Continue reading

The FAFSA form opened up to high school seniors and their parents on October 1^st, meaning the financial aid application season is well under way. With the cost of college being so far out of reach for most families, many students are counting on financial aid to make their college dreams a reality, but the process of applying—and maximizing aid resources—can be confusing. How, then, can you make sure you’re accessing all of the financial aid you may be entitled to? Continue reading

In case you haven’t heard, financial aid application season is now upon us. Not quite sure when you should be applying for financial aid? Check out this installment of the brand new College Coach video series, We Can Explain, where we answer the question, “When Should You Apply for Financial Aid?” Continue reading

Many families, particularly those that won’t qualify for need-based financial aid, are counting on scholarships to help pay for college. How then can a student maximize their scholarship funding? Continue reading