Results for: taxes

August 9, 2018

See All Blog Posts About Taxes

December 20, 2017

College Students: Read This Before Filing Your Taxes

By: Bryan Lee, UHEAA Filling Taxes? Here’s How College, Jobs, Marriage or the Birth of a Child Changes Things.   When it comes to filing your taxes, it’s important to be aware of different tax credits you can receive. A new milestone in life is exciting! Congratulations on your new adventure. From going to college,

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October 31, 2018

How to Create a Budget

1. Know your take-home pay.   The first step to creating a budget is knowing how much money you have available. Be sure to build your budget around your take-home pay (the amount of money in your pocket after deductions for things like taxes, retirement contributions, or health insurance).     2. Choose a timeframe

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August 9, 2018

Factors of Cost of Attendance

There are many factors to consider while you are deciding which college to attend. One of those factors is Cost of Attendance (COA). The COA helps your college determine your financial need and is divided into several categories:         Each college will have a different cost of attendance. As an example, let’s

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August 8, 2018

Types of Retirement Accounts

IRA Retirement Plans IRAs (Individual Retirement Arrangements) An IRA (traditional) is an individual retirement account that allows you to save cash and other financial assets while providing federal and state tax breaks as you contribute to your account. When you make a withdrawal, that money will typically be taxed.   Roth IRAs A Roth IRA

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How to Get a Work-Study Job

December 21, 2017

FAFSA – IRS Data Retrieval Tool Tips and Tricks

By Jacob Newman, UHEAA The temperature is dropping, school is in full swing, Halloween is just around the corner, and FAFSA season is here! One spooky concern that some students have parents have is about the Internal Revenue Service Data Retrieval Tool (IRS DRT—the tool you use to pull your tax information into the FAFSA).

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December 19, 2017

FAFSA Verification 101

By Katie Wornek, UHEAA What is verification? When you complete and submit the Free Application for Federal Student Aid (FAFSA), you provide personal and financial information that is used to calculate what is called your “Expected Family Contribution” or EFC. Your EFC helps determine the types and amount of Federal Student Aid (grants, federal work-study,

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5 Things to Consider When Choosing to Work During College

By Katie Wornek, UHEAA If you’re thinking about working while attending college, you’re definitely not alone. A 2015 Georgetown University study found that 70% of college students work during college. Beyond providing money to help you pay for school, working at a job will help you gain valuable real-world skills and feel invested in your

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December 18, 2017

Learnin’ & Earnin’: What You Should Know About Federal Work-Study

By: Katie Wornek, UHEAA Since today’s blog discusses work…a lot…I think we should lighten up this post by starting with a joke. Why did the can crusher quit his job?… …Because it was SODA PRESSING!   All jokes aside, work can be a fun, engaging, and fulfilling part of your life. It’s also a great

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FAFSA Fears, Myths, and Urban Legends

  By Katie Wornek, UHEAA October is here, and with it comes pumpkin carving, haunted houses, and FAFSA SEASON. The “Free Application for Federal Student Aid” (or FAFSA) is the form you must complete to be considered for all forms of financial aid aid from the federal government (grants, work-study, and loans) and most forms of

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August 24, 2017

Tax Credits & Deductions

A tax credit is a specified amount of money that you can apply to offset a potential tax liability. Tax credits directly reduce your taxes but the value of those credits depends upon your basic tax liability. The value of your tax deduction will rise or fall depending on your income.     Please use

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