Top College Savings Stories of 2015

2015 was an exciting year for families saving for college. We started out the year on edge as President Obama proposed the idea of taking away the federal tax benefits of 529 plans, but by December things had come full circle when he signed the PATH Act, which made computers a permanent qualified expense. Here's a list of our most-read articles of the year, and many offer tips and advice that can be used throughout 2016 as well. Honorable mention: New tax bill brings improvements to education benefits While this story wasn't technically one of the most-read in 2015, we thought it deserved another look. The signing of the PATH Act brought improvements to ABLE accounts, made the American Opportunity Tax Credit permanent and finalized some long-awaited enhancements to 529 plans. Most notably, the PATH Act made computers a permanent 529 qualified expense. 10. Top 10 financial mistakes millennial parents make A perfect storm triggered by record high student loan debt and historically low wages is making it difficult for many young parents to find solid financial ground. Here are some things for millennial moms and dads to watch out for to keep their family on track. 9. Using 529 plan savings to pay for a gap year Taking a gap year gives students an opportunity to explore other areas of interest by studying abroad, volunteering and completing wilderness training programs like Outward Bound. What's more, in 2015 we learned that families are able to pay for some gap year programs with their 529 savings. 8. Saving for college? These 6 mistakes can cost you. There are many programs and tax benefits offered to families saving for college, but in order to take advantage you've go to know how to use them. These tips will help you maximize the potential of your college savings strategy in 2016 and beyond. 7. 6 must-know 529 plan rules The popularity of 529 college savings plans soared in 2015, yet many families are still confused about how they operate. Our annual College Savings Survey highlighted six of the biggest misconceptions ï ¿ ½ read on to learn the truth. 6. 15 facts about financial aid eligibility The Free Application for Federal Student Aid (FAFSA) is now available for the 2016-17 school year. These 15 tips can help you avoid costly mistakes whether your child is starting college in the fall or you have years to prepare. 5. What you need to know about President Obama's tax proposal Last January, during his State of the Union address, President Obama proposed ending the federal tax benefits of 529 plans, claiming only wealthy families used them. Savingforcollege.com helped those who opposed the idea have their voices heard by creating No529tax.org and a petition to keep the tax benefits. Fortunately, the President dropped the heavily debated proposal and 529 plans were unaffected. 4. Don't waste your summers ï ¿ ½ get ready for the Ivy League In 2015 we introduced Lulu Curiel, founder of Ivy Advisors, as a regular guest contributor. Her posts have been some of our most-read stories, covering topics such as admissions, interviews and tips on preparing for the Ivy League. 3. 4 things to watch out for when applying to a top school We learned in 2015 that many of our readers want their children to attend a prestigious college, and they looked to us to help get them there. Since these schools typically only accept around 25% of applicants, we offered some tips on what not to do if you want to get in. 2. 8 common 529 plan mistakes to avoid 529 plans offer numerous benefits to families saving for college, but only when they're used correctly. Avoiding these eight common mistakes can help you maximize your savings and better prepare for future tuition payments. 1. How 7 different assets can affect your financial aid eligibility Worried that your savings will hurt your child's chances of getting financial aid? They might, depending on how you save. This article highlights the different effects household assets can have on financial aid and some recent changes to FAFSA filing rules 2015 was an exciting year for families saving for college. We started out the year on edge as President Obama proposed the idea of taking away the federal tax benefits of 529 plans, but by December things had come full circle when he signed the PATH Act, which made computers a permanent qualified expense. Here's a list of our most-read articles of the year, and many offer tips and advice that can be used throughout 2016 as well. Honorable mention: New tax bill brings improvements to education benefits While this story wasn't technically one of the most-read in 2015, we thought it deserved another look. The signing of the PATH Act brought improvements to ABLE accounts, made the American Opportunity Tax Credit permanent and finalized some long-awaited enhancements to 529 plans. Most notably, the PATH Act made computers a permanent 529 qualified expense. 10. Top 10 financial mistakes millennial parents make A perfect storm triggered by record high student loan debt and historically low wages is making it difficult for many young parents to find solid financial ground. Here are some things for millennial moms and dads to watch out for to keep their family on track. 9. Using 529 plan savings to pay for a gap year Taking a gap year gives students an opportunity to explore other areas of interest by studying abroad, volunteering and completing wilderness training programs like Outward Bound. What's more, in 2015 we learned that families are able to pay for some gap year programs with their 529 savings. 8. Saving for college? These 6 mistakes can cost you. There are many programs and tax benefits offered to families saving for college, but in order to take advantage you've go to know how to use them. These tips will help you maximize the potential of your college savings strategy in 2016 and beyond. 7. 6 must-know 529 plan rules The popularity of 529 college savings plans soared in 2015, yet many families are still confused about how they operate. Our annual College Savings Survey highlighted six of the biggest misconceptions ï ¿ ½ read on to learn the truth. 6. 15 facts about financial aid eligibility The Free Application for Federal Student Aid (FAFSA) is now available for the 2016-17 school year. These 15 tips can help you avoid costly mistakes whether your child is starting college in the fall or you have years to prepare. 5. What you need to know about President Obama's tax proposal Last January, during his State of the Union address, President Obama proposed ending the federal tax benefits of 529 plans, claiming only wealthy families used them. Savingforcollege.com helped those who opposed the idea have their voices heard by creating No529tax.org and a petition to keep the tax benefits. Fortunately, the President dropped the heavily debated proposal and 529 plans were unaffected. 4. Don't waste your summers ï ¿ ½ get ready for the Ivy League In 2015 we introduced Lulu Curiel, founder of Ivy Advisors, as a regular guest contributor. Her posts have been some of our most-read stories, covering topics such as admissions, interviews and tips on preparing for the Ivy League. 3. 4 things to watch out for when applying to a top school We learned in 2015 that many of our readers want their children to attend a prestigious college, and they looked to us to help get them there. Since these schools typically only accept around 25% of applicants, we offered some tips on what not to do if you want to get in. 2. 8 common 529 plan mistakes to avoid 529 plans offer numerous benefits to families saving for college, but only when they're used correctly. Avoiding these eight common mistakes can help you maximize your savings and better prepare for future tuition payments. 1. How 7 different assets can affect your financial aid eligibility Worried that your savings will hurt your child's chances of getting financial aid? They might, depending on how you save. This article highlights the different effects household assets can have on financial aid and some recent changes to FAFSA filing rules