This has a ton of upsetting implications for the personal finances of millions, but there’s one population that is particularly nervous about it: college aspiring students.
VICE just reported that parents with tax dependent children enrolled in college could lose out on up to $2,500 available through the American Opportunity Tax Credit, which would lose funding and possibly see an entire restructuring under the proposed bill. It’ll hit especially hard for single parent households making up to $80,000 per year.
Here’s the thing; no matter what happens, Frank will have your back. Not only do we help you bypass pages of forms, mounds of confusion and a zero-status update stretch of time on your application, but we actually employ advocates to work on your behalf to get you the financial aid you need.
More financial aid means less of a student loan crisis on your hands, one that this bill is going to undoubtedly make worse from a tax perspective.
And there’s plenty of financial aid to go around—the government just makes it harder to access than it has to be.
Literally billions of dollars every year go uncollected, and they don’t roll over like unused cell phone minutes used to back in the day. Every year 45 million aspiring students find themselves looking for a way to pay for college, and yet only 30 million of them even start the financial aid process because it is just plain confusing and daunting, and only 22.5 million complete the process.
Frank is smart enough to determine which questions on the FAFSA® actually do apply to you, like name, age, and household income, and weeds them out from the rest that based on the info you input. That means you see 30% of the questions that actually apply to you rather than having to fill out government forms for, say, veterans, that don’t apply to you at all.
Our technology allows you to opt in and collect other information via smart integrations, and you can literally just snap a pic of your tax return.
We’ll catch your mistakes and we’ll keep you from listing assets you don’t actually have to.
If you’re a green-card carrying American, our folks can help you negotiate your tuition, a tricky process, but we’ve got you.
This likely isn’t the end of Washington presenting obstacles to young Americans who aspire to earn higher education despite coming from a background full of obstacles already.
The verification of financial documents is a huge problem, and the most impacted are the most underprivileged. This could get tougher and verification rates seem to be surging.
So if we are, as people are suggesting, fighting a Republican war on education, or simply facing the decades old challenge of banks, government and schools pushing the cost of higher education up, we’re dead-set on remaining an ally fighting on behalf of students and their families.
We have to focus on solutions everyone can get behind today while we’re waiting for political reform tomorrow—and we’re here when you’re ready.
Featured Image Credit: Tom Hilton – Tax March