No. You do not have to include retirement plan accumulations when totaling the value of assets. However, any annual contribution must be reported since they are considered discretionary payments and are usually untaxed income. Yes, students in the evening program can apply for financial aid to assist with both tuition and living expenses. Yes, you are require to inform us about your outside aid as this may effect on your eligibility for other need-based financial aid funds.

You may contribute up to $4,000 on the Traditional and Roth IRA's. The Coverdell Education Savings Account has a contribution limit of $2,000.

No. You do not have to include retirement plan accumulations when totaling the value of assets. However, any annual contribution must be reported since they are considered discretionary payments and are usually untaxed income. Yes! Students in the evening division may apply for Federal Stafford Loans, Commercial and/or Graduate Plus loans and Federal Work Study to assist with both tuition and living expenses. Yes.

Yes, individuals can contribute to a traditional IRA whether or not they are covered by another retirement plan. However, they may not be able to deduct all of their contributions if they or their spouses are covered by an employer-sponsored retirement plan. [Note that contributions to a Roth IRA are not deductible and income limits apply.] See Publication 590 for further information.

The maximum contribution to a Traditional IRA is $3,000 or 100% of earned income per tax year, whichever is less. You must reduce this contribution by the amount contributed to a Roth IRA in the same year. Yes. IRA holders age 50 and older may contribute an extra $500 to their IRA in addition to their regular contribution.

You may designate your Donor Advised Fund as a beneficiary to a portion or all of your IRA. There is pending legislation (not yet enacted) that would allow IRA distributions to charity to be tax-free at age 70 1/2. We encourage you to consult with a qualified tax attorney to discuss the tax consequences of utilizing an IRA for charitable giving.

long as the child has earned income, he or she can contribute to a minor IRA. It can be opened as a traditional or Roth IRA, and the maximum contribution is $4,000 in 2007 or 100% of earned income, whichever is less. To establish a minor IRA, the account must be opened and held by an adult, as guardian, in the name of the minor. While the adult is the individual authorized to perform transactions on the account, the minor is considered the registered owner for tax purposes.

Complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is available from any high school, community college or university. The FAFSA application is considered for federal and state grants, federal and state work-study programs and federal loans.

Yes, you can contribute to a traditional IRA whether or not you are covered by another retirement plan. However, you may not be able to deduct all of your contributions if you or your spouse is covered by an employer-sponsored retirement plan.

Yes. You can contribute to a Roth IRA or Traditional IRA regardless of whether or not you have an employer-sponsored plan. In fact, IRAs are a great way to enhance your savings. While participation in a retirement plan does not change how much you can contribute to an IRA, it can affect whether or not you're eligible to deduct your contributions to a Traditional IRA on your tax return.

If the SEP participant's modified adjusted gross income (MAGI) for 2007 is under $52,000 (single filer) or under $83,000 (married, joint filer), then a full deduction for a traditional IRA contribution is also permitted. The amount that may be deducted is phased out over the next $10,000 in income.

Anyone who has earned income may contribute to an IRA and also contribute to an IRA for a spouse who does not have earned income. However, not everyone can deduct his or her IRA contribution for his or her taxes each year. Since all Roth IRA contributions are made with after tax dollars, there is no deductibility opportunity for any person.

Again, YES! Comments, suggestions and particularly, contributions, are most welcome. GDRC has grown to become what it is today, primarily through such contributions. Please do contact the coordinator's email below for more information and ideas.

To be considered independent for financial assistance purposes you must be able to answer yes to at least one of the seven questions on the FAFSA . If you can answer yes, you do not need to report your parents' information. Many banks offer their own form of alternative student loans. The student is the legal borrower and usually only borrows these loans to cover additional expenses not covered by their federal, state, institutional, and other financial assistance.

Yes. The Roth IRA has Adjusted Gross Income (AGI) limitations. Singles earning up to $95,000 may contribute fully; ability to participate phases out at $110,000. Those filing jointly earning up to $150,000 may contribute fully; ability to participate for joint filers phases out at $160,000.

Yes. You may make salary reduction contributions to your 403(b), and make contributions to a SEP-IRA. However, SEP IRA contributions are generally made by an employer. Therefore, you will need to have income from self-employment or from another employer in order to have contributions made to a SEP IRA on your behalf.