Part 2 of Our Mini-Series on Secured and Unsecured Loans As promised, to our readers in Ohio (and elsewhere) we are working through the Christmas Season and posting the continuation of our mini-series on secured and unsecured loans. The advantages to mortgages is that interest on the first mortgage on your house is virtually always [...]

Part 1 of Our Mini-Series on Secured and Unsecured Loans I know this article is obviously not specific to Ohio only, but this article on secured and unsecured loans (and debt), is food for thought for anyone who wants to come by for a read.  Onward. There are two basic kinds of debt. First, there [...]

Continued from [1] If you are shifting earned income (by paying your child to work for you), he or she can earn up to $3000, pay no tax on that amount, and still be claimed as a dependent on your return. But, as I explained before, the problem is that on financial aid forms parents’ [...]

One of the most commonly used income tax strategies is to shift income from your higher tax bracket to your child’s lower tax bracket. You can do this with unearned (investment) or earned (job) income, and the rules differ depending both on the type of income and your child’s age. The advantage is that this [...]

Continued from [2] Ohio State-Level Financial Aid The second source of financial aid available is through your child’s state of residence (in our case, Ohio State) in 2007 15% of college freshmen took advantage of Ohio state aid programs. These are usually based on need and generally provide funds to attend in state colleges and [...]

Continued from [1] There are four primary sources of financial aid. There is federal, state, college, and private. The federal aid programs are usually the most generous. The Federal Pell Grant First, the federal Pell Grant is based solely on federal eligibility criteria and does not have to be repaid. If you are eligible for [...]