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Episode Info: Launch Your Teens Podcast EPISODE 5 Title: 5 Ways Teens Can Save Earnings—Without Damaging Future Financial Aid (14 min) Your daughter's 15 or older, and she's earning and saving her own money. Whooo hoo! But wait—just a minute. Could the money she's saving in her own name end up sabotaging future college financial aid awards? Learn the sobering answer here—along with 5 safe, legal ways your kids can keep their own money under their own control during the college years. In this episode, you’ll learn: 1. Why it's important to think carefully about student earnings after December 31st of the 10th grade year 2. Why January 1st of the sophomore year of college is liberation day, the day no parent or student financial decisions can hurt undergraduate financial aid ever again 3. Why putting the cash your family hopes to save for college into a grandparent-owned 529 college savings plan can be a brilliant idea 4. Which kinds of student income never hurt college financial aid awards Help us spread the word about this podcast! If you’ve found valuable help here today, please copy the red text below and paste it into your Facebook status: If you’ve got kids ages 12–26, you need to listen to the Launch Your Teens podcast. Lots of help for getting your kids through college debt-free and into jobs they love afterward. Listen or watch here: bit.ly/launchyourteenspodcast. Links and resources mentioned in this episode: Jeannie Burlowski's article Urgent Info For Parents of 9th Graders Why grandparent-owned 529 college savings plans are a brilliant idea (This article includes a free downloadable info sheet that explains the idea to Grandma.) Learn about co-op college programs on pages 161-165 of LAUNCH: How to Get Your Kids Through College Debt-Free and Into Jobs They Love Afterward The income cut-off mentioned in this podcast episode is $6,570.00 per calendar year after taxes, which is (approximately) $7,162.00 per calendar year before federal, FICA, and state taxes are taken out. Before you fill out any FAFSA forms, be sure to download Jeannie Burlowski's free resource 30+ Common FAFSA Mistakes and How to Avoid Them Learn from Jeannie why every teen needs a part-time job (and how to make your teen eager to apply for one) either by listening to Jeannie here or by reading what Jeannie's written here Purchase LAUNCH on Amazon at: bit.ly/burlowski Prefer to read this content? There's a Jeannie Burlowski article on this same subject here Sign up for email updates at: JeannieBurlowski.com Learn how to “whitelist” Jeannie's email updates at: bit.ly/whitelistburlowski Find hundreds more debt-free college articles, all beautifully categorized, at: JeannieBurlowski.com Learn the easiest way to write an iTunes review at: JeannieBurlowski.com/REVIEW Read reviews of Jeannie Burlowski’s live speaking events at: JeannieBurlowski.com/SPEAKING Support this program at: Patreon.com/debtfreecollege Follow Jeannie Burlowski on Twitter at: Twitter.com/JBurl...
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