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College and University Discussion
Reply to "Brown eliminates tuition for families up to $125K and removes home equity in the FA equation"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] We have very low income but 4M in assets (that we can't use for tuition, but it's in our name and we disclose it to the IRS). I somehow doubt we'd still qualify, but does anyone know? [/quote] It depends on what the assets are and what you mean by "can't use". For example, if it's 401K, it usually doesn't count. [/quote] It's a stock portfolio we manage for our family back in our home country. The name on the account is ours, but it's really family money. We can't take out a chunk and use it just for our kids. I realize nobody cares about the details, I just need to know what rules Brown lays out for assets like that. [/quote] It’s in your name so it’s your asset. Move it to their name. [/quote] That would probably open up a whole new can of worms from a tax standpoint. They’d be better off paying the tuition. [/quote]
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