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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Notice how this post was not answered, nor are any of the other people complaining about "the lucky poors who get financial aid".[/quote]
I have $300k saved across 529 and other nonretirement assets.  Based on the 5% formula, this would increase my EFC by $15k per year, so I would be paying $60k more than if I hadn't saved.[/quote]

Thanks for answering, and congrats for being a diligent and responsible parent.

I do not know if you were one of the previous posters, but are you saying you’d be better off with $60K more of financial aid and no savings  to pay for college?  Probably not, right?

The implication from some people is that it’s a zero sum game and if they hadn’t saved they would be getting a free ride.  It’s not so.  You’d be way worse off, to the point of college being impossible.[/quote]

+1  And, if you have an income that lets you save $300K for college your EFC is going to be really high anyway so regardless, you aren't getting need-based aid.  Income is the biggest factor in EFC.[/quote]

+2 It's true that every 100k of assets would add a 5k contribution to EFC.  But most people who have 100k+ of assets saved have a high enough income that the assets aren't going to matter.  Check out an NPC  for various schools.  Most don't give a dime if your income is over 120k regardless of assets unless you have multiple kids in college.  [/quote]

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