Independent Status improve financial aid / grants

[Anonymous]

The latest legal loophole is put 529 under grandparents name and its not counted as parental assets.

[Anonymous]

Anonymous wrote:At their income ($300k), they don’t get any deduction for an adult child. But as an independent tax filer, the student uses his tax free grand parent “income” $39k plus his part time job probably $10k or so to have about $50k to cover his expenses, which means he can easily claim to cover over half his living expenses independently and qualify for the $2500 AOTC (tax credit).

Yup, there it is. Might not work at competitive CSS schools but he doesn’t have to go to a CSS school. And it might work.