Reply to College aid: Do retirement fund and equity in primary residence count?

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[quote=Anonymous]The single biggest factor, dwarfing all others, in determining a student's financial need is the family's income.

Money in 401k and other qualified retirement accounts is not counted when calculating families' expected financial contribution.

http://blog.rollinsfinancial.com/2011/02/q-series-which-assets-affect-financial.html

Regarding home equity, the FAFSA does not count home equity or the value of your principal residence at all. Schools that use the CSS Profile form DO count home equity, but typically equity is capped at 2 to 3 times income, so people who make relatively low incomes but have a lot of equity in their homes aren't unduly penalized.

http://www.forbes.com/sites/troyonink/2014/02/14/h...lity-on-fafsa-and-css-profile/

Colleges that use CSS Profile:

https://profileonline.collegeboard.org/prf/PXRemot...motePartInstitutionServlet.srv

More info:

http://www.thecollegesolution.com/assets-you-dont-need-to-report-on-the-fafsa/

http://www.thecollegesolution.com/answering-a-dads-financial-aid-question/

http://www.thecollegesolution.com/8-financial-aid-mistakes-to-avoid/

http://www.thecollegesolution.com/is-the-money-in-your-college-account-a-ticking-money-bomb/[/quote]

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