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

Forum Index » College and University Discussion

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]That money is not just scot free.

My understanding is that it is in their name you have to declare it. That is why it is better for parents to set it up instead of grandparents (i.e. parental assets are treated more favorably than child assets in the family contribution calculation). So, I would not say that your mom was THAT savvy about how to set things up. Though she sounds very generous.

OR you will have to declare it as a gift the following year.

You can't just use it and pretend you do not have it.

Come on.[/quote]

OP here.  I am definitely not trying to use it and pretend we do not have it.  I definitely did not say that.

If we use it, it will get reported.  Period.  As someone who has not filled out a FAFSA, I was just curious if I need to disclose this during the admissions process.  If we got any FA at all, it would presumably mean that my mom did not help us at all.

Trust me, I do not want to take valuable FA money that could otherwise go to kids with a financial need.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics