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Reply to "Answer provided: How will a 529 plan affect my child's chances to qualify for financial aid?"
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[quote=Anonymous]This totally misses the point federal aid (Pell Grants) virtually no one here would qualify for so it's not an issue of how the Feds see a 529 - it's an issue of how a university treats it. Example: university X tuition 50,000 per year FAFSA for parents making 130K = $0 federal aid However most colleges give some anyway $10,000 That $10,000 will be reduced by assets per the university policy. Generally it includes business assets, savings accounts (in any relatives name for the child), and outside merit scholarships.[/quote]
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