Reply to NPC's -- what to put? How accurate?

Forum Index » College and University Discussion

Reply to "NPC's -- what to put? How accurate?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]You include ALL child support you receive, not just for the one college bound child. It is considered untaxed income for schools that use the CSS profile. If there is not a specific question for child support, include it in a question that asks about "untaxed income" or you will get inaccurate NPC results/estimate.

Also, for CSS schools, assets include ALL 529 accounts not just the ones where the college bound child is listed as beneficiary. Some will also ask specifically about 529 accounts owned by others for the student.

Assets also should include all other investments (CDs, savings bonds, mutual funds, stocks etc)  Qualified retirement accounts (IRA, 401k) are usually asked for separately. If you have taxable investment accounts that you intend to use for your retirement, but are not "qualified" accounts, those get included in assets. You cannot include them in the question about your "retirement" assets. Vehicles are not included

Cash and savings accounts are usually a separate question. Questions about your primary residence home / home equity are also separate questions. You'll also need to include any rental property/secondary residence that you own.
[/quote]

+1. It can be confusing because the new FAFSA only asks about 529s for the specific student. And child support is treated as an asset for the FAFSA. But CSS schools (and probably most other schools) will consider all child support and count it as untaxed income.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics