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Reply to "Anyone else preparing to take our parent loans for 2023-2024? If so, how much"
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[quote=Anonymous][quote=Anonymous]Taking loans might be viable as a way of manipulating income for financial aid, as loans are not income. So, let’s say you’re on the border of great need-based grant money, but you’d have to match that with $15k of your own money. Let’s say you could get that money from your retirement funds, but the withdrawal would count as additional income. In that case, it might be worth it to take the loans for a few years, pay the school bills, and not trigger more income for next year’s financial aid calculation, and repay the loans after the last financial aid package with a retirement fund withdrawal. [/quote] Could also do this with a HELOC. [/quote]
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