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College and University Discussion
Reply to "Moving $200,000 out of cash to improve chances for college financial aid?"
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[quote=Anonymous][[b]quote=Anonymous]You can’t just make a $200,000 contribution to a retirement account. [/b] You have 20,000 available per year per kid. How much can you pay from cash flow per year per kid and how much do you want to pay from savings? Let your kids know the dollar amount available so they can apply accordingly. They can chase merit at certain schools that will get the oryx’s down. How much of your cash is the NPC applying to tuition each year. Seems risky to eliminate an emergency fund in the hopes of getting financial aid if you have a high income. [/quote] This. If you want to shield assets, you should probably speak to a CPA rather than seek advice from an anonymous online forum. [/quote]
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