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College and University Discussion
Reply to "Do families with $250K in income get financial aid? If not, how do they afford college?"
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[quote=Anonymous][quote=Anonymous] None of this will help people with 1/2 million in savings, but it helped us as a normal middle class family. The fact that the universities can use 5% per year of the 529 account ear-marked for another child is ASININE, so we had to avoid that. Pay off EVERYTHING, avoid any live money on checking and savings accounts. Remember retirement savings cannot be used as a part of CSS profile, so maximize those accounts to keep live money off of your checking account. That's it [/quote] ok. what's that the 5% rule you are referring to? is having a 529 for my younger kids going to affect the older one? thanks[/quote]
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