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Expected Family Contribution
In the post-secondary education system of the United States, an expected family contribution (EFC) is an estimate of a student's, and for a dependent student, their parent(s)' or guardian(s)', ability to pay the costs of a year of post-secondary education. The EFC is used in the United States student financial aid process to determine an applicant's eligibility for need-based federal student aid. In most cases, the same estimate is also used for state and institutional (college-based) financial aid. The EFC is included on the Student Aid Report and Institutional Student Information Record, which are sent after filing a form called a Free Application for Federal Student Aid (FAFSA). There are a number of free calculators on the Web to help applicants estimate the EFC before filing the FAFSA. Recipients of need-based financial aid must reapply for each year by completing a new FAFSA. The term and concept of Expected Family Contribution will be replaced by the term Student Aid Index ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-secondary Education
Tertiary education, also referred to as third-level, third-stage or post-secondary education, is the educational level following the completion of secondary education. The World Bank, for example, defines tertiary education as including university, universities as well as trade schools and colleges. Higher education is taken to include undergraduate and postgraduate education, while vocational education beyond secondary education is known as ''further education'' in the United Kingdom, or included under the category of ''continuing education'' in the United States. Tertiary education generally culminates in the receipt of Academic certificate, certificates, diplomas, or academic degrees. UNESCO stated that tertiary education focuses on learning endeavors in specialized fields. It includes academic and higher vocational education. The World Bank's 2019 World Development Report on the future of work argues that given the future of work and the increasing role of technology in v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Child Support
Child support (or child maintenance) is an ongoing, periodic payment made by a parent for the financial benefit of a child (or parent, caregiver, guardian) following the end of a marriage or other similar relationship. Child maintenance is paid directly or indirectly by an ''obligor'' to an ''obligee'' for the care and support of children of a relationship that has been terminated, or in some cases never existed. Often the obligor is a non-custodial parent. The obligee is typically a custodial parent, a caregiver, a Legal guardian, guardian. Depending on the jurisdiction, a custodial parent may pay child support to a non-custodial parent. Typically one has the same duty to pay child support irrespective of sex, so a mother is required to pay support to a father just as a father must pay a mother. In some jurisdictions where there is joint custody, the child is considered to have two custodial parents and no non-custodial parents, and a custodial parent with a higher income (obligo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Student Financial Aid
Student financial aid (or student financial support, or student aid) is financial support given to individuals who are furthering their education. Student financial aid can come in a number of forms, including scholarships, grants, student loans, and work study programs. Each of these methods of providing financial support to students has its advantages and drawbacks. Many countries have some kind of financial aid program for their students. In countries that provide education to all at nominal cost, financial aid may have only a tertiary link to educational status, instead tied to the economic conditions of the family, and financial support for students is primarily indirect. In Belgium, for example, " ere is no system of student loans and ''direct'' support is only given in the form of means-tested grants to students from low-income families", which constitutes a very limited proportion of students.OECD, ''OECD Economic Surveys: Belgium 2007'' (2007), p. 97. Specific examples * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Student Financial Aid In The United States
Student financial aid in the United States is funding that is available exclusively to students attending a post-secondary educational institution in the United States. This funding is used to assist in covering the many costs incurred in the pursuit of post-secondary education. Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded in the form of grants, loans, work-study, and scholarships. In order to apply for federal financial aid, students must first complete the Free Application for Federal Student Aid (FAFSA). The financial aid process has been criticized for its part in enrollment management, whereby students are awarded money not based on merit or need, but on what the maximum the student families will pay. Types of financial aid Grants In the United States, grants come from a wide range of government departments, colleges, universities or public and private trusts. Grant eligibility is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Child Abuse
Child abuse (also called child endangerment or child maltreatment) is physical, sexual, and/or psychological maltreatment or neglect of a child or children, especially by a parent or a caregiver. Child abuse may include any act or failure to act by a parent or a caregiver that results in actual or potential harm to a child and can occur in a child's home, or in the organizations, schools, or communities the child interacts with. The terms ''child abuse'' and ''child maltreatment'' are often used interchangeably, although some researchers make a distinction between them, treating ''child maltreatment'' as an umbrella term to cover neglect, exploitation, and trafficking. Different jurisdictions have different requirements for mandatory reporting and have developed different definitions of what constitutes child abuse, and therefore have different criteria to remove children from their families or to prosecute a criminal charge. History As late as the 19th century, cruelty to c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president has a vote in the Senate only when senators are evenly divided. The House of Representatives has six non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establishes that there be 435 representatives and the Uniform Congressional Redistricting Act requires ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
401k
In the United States, a 401(k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodical employee contributions come directly out of their paychecks, and may be matched by the employer. This legal option is what makes 401(k) plans attractive to employees, and many employers offer this option to their (full-time) workers. There are two types: traditional and Roth 401(k). For Roth accounts, contributions and withdrawals have no impact on income tax. For traditional accounts, contributions may be deducted from taxable income and withdrawals are added to taxable income. There are limits to contributions, rules governing withdrawals and possible penalties. The benefit of the Roth account is from tax-free capital gains. The net benefit of the traditional account is the sum of (1) a possible bonus (or penalty) from withdrawals at tax rates lower (or higher) than at contributio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Equity
Home equity is the market value of a homeowner's unencumbered interest in their real property, that is, the difference between the home's fair market value and the outstanding balance of all liens on the property. The property's equity increases as the debtor makes payments against the mortgage balance, or as the property value appreciates. In economics, ''home equity'' is sometimes called real property value. Home equity is not liquid. ''Home equity management'' refers to the process of using equity extraction via loans, at favorable, and often tax-favored, interest rates, to invest otherwise illiquid equity in a target that offers higher returns. Homeowners acquire equity in their home from two sources. They purchase equity with their down payment and the principal portion of any payments they make against their mortgage. They also benefit from a gain in equity when the value of the property increases. Investors typically look to purchase properties that will grow in value ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lump Sum
A lump sum is a single payment of money, as opposed to a series of payments made over time (such as an annuity). The United States Department of Housing and Urban Development distinguishes between "price analysis" and "cost analysis" by whether the decision maker compares lump sum amounts, or subjects contract prices to an itemized cost breakdown. In 1911, American union leaders including Samuel Gompers of the American Federation of Labor expressed opposition to lump sums being awarded to their members pursuant to a new workers compensation law, saying that when they received lump sums rather than periodic payments the risk of them squandering the money was greater. ''The Financial Times'' reported in July 2011 that research by Prudential had found that 79% of polled pensioners in the UK collecting a company or private pension that year took a tax-free lump sum as part of their retirement benefits, as compared to 76% in 2008. Prudential was of the view that for many retirees, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alimony
Alimony, also called aliment (Scotland), maintenance (England, Ireland, Northern Ireland, Wales, Canada, New Zealand), spousal support (U.S., Canada) and spouse maintenance (Australia), is a legal obligation on a person to provide financial support to their spouse before or after marital separation or divorce. The obligation arises from the divorce law or family law of each country. In most jurisdictions, it is distinct from child support, where, after divorce, one parent is required to contribute to the support of their children by paying money to the child's other parent or guardian. Etymology The term alimony comes from the Latin word '' alimōnia'' ("nourishment, sustenance", from ''alere,'' "to nourish"), from which the terms alimentary (of, or relating to food, nutrition, or digestion), and aliment (a Scots Law rule regarding sustenance to assure the wife's lodging, food, clothing, and other necessities after divorce) are also derived. History The Code of Hammurabi (1754 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
