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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][quote=Anonymous][quote=Anonymous]What are the rules with financial aid if for example a parent was to cut off a student in attempt to have the student get financial aid?[/quote] It is virtually impossible to get yourself declared independent below a certain age (24 or 26 I think, though I'm not sure) unless you are married. I had friends withe divorced parents and their father refused to provide any support or any information for them to file a FAFSA. They were pretty much screwed. [/quote] This is why you need to start massive savings at birth. Prepaid tuition and 529s are protection against parents who divorce. If you get them to save early while they still think the kids are cute, then the money will be there. When there is divorce and an new wife/husband, you can FORGET it. [/quote]
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