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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][quote=Anonymous][quote=Anonymous]1. you cannot just put $200K in a retirement account; there's a limit to how much you can contribute 2. if you put it into a 529, when you withdraw it, it has to be for college expenses. If not, you will get taxed. Regardless, colleges will look at 529 amounts. [/quote] Yep [b]Our 529s count against us[/b][/quote] This may be the most idiotic statement in the history of DCUM. Yes, the money you have saved *specifically for college* does factor in to [checks notes] whether you need financial aid for college. In what rational universe would it not? [/quote]
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