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FAFSA Changes: What This Means for Grandparents and Families

Starting with the school year of 2023-2024, students will no longer need to disclose cash support during the FAFSA application. Grandparents with 529 accounts for their grandchildren who wish to use these funds toward college tuition may do so without negatively impacting their grandchildren’s eligibility for financial aid.

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How Much Auto Insurance Coverage Do You Need?

All states have financial responsibility laws that either explicitly or in effect require you to purchase at least some auto insurance. However, there is often a large gap between the amount of coverage you’re required to have and the amount of coverage you really need. Even in states with the most stringent requirements, many insurance professionals suggest that you have a broader scope of coverage (i.e., more types) than what the state mandates, and that your coverage limits in most areas exceed the required state minimums.

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Enhanced Child Tax Credit for 2021

If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan Act of 2021 makes substantial, temporary improvements to the child tax credit for 2021, which may increase the amount you might receive.

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