Reply to ISO advice on whether to fill out the FAFSA form - 529 in grandparent's name FBO the grandchildren

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Reply to "ISO advice on whether to fill out the FAFSA form - 529 in grandparent's name FBO the grandchildren"

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[quote=Anonymous][quote=Anonymous]JFC, $450k HHI and grandma pays for Kid 1's tuition and OP is still hoping to game financial aid for Kid 2 by hiding the 529 funds because she has NO OTHER ASSETS besides retirement and home equity. Yes OP, go right ahead and find a way to scam the system to avoid paying full freight. My heart aches for your suffering.[/quote]

OP here.  I am definitely not trying to "game financial aid" or "scam the system."  I'm not sure where you get that from my posts.

Trust me, we want to use that money in the 529s that my mom has set up in her name (FBO her grandchildren), and NOT apply for financial aid (as there is plenty of money in the 529s to pay for tuition/room/board).  And of course, it goes without saying that we would disclose it if asked.  And of course if it is used one year, we'd have to disclose it the next year.

I have not filled out the FAFSA before, and so I was just not sure if I need to disclose it on the initial FAFSA that we'd do in conjunction with the admissions process.

I do not have access to the 529 account, and am dependent on my mom's decision as to whether she will pay out of the account, which is again in her name.  If she decided that she needed the 529 money for her own living expenses, then it seems like we should at least fill out the FAFSA (honestly of course).  Sounds like we might not get FA anyway.  But maybe we'd get a little discount.  Who knows, maybe it's not worth even bothering with the FAFSA.

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