Reply to Moving $200,000 out of cash to improve chances for college financial aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]America likes to punish middle class savers. It’s better to have no savings and get full need based aid. [/quote]

Stupid statement. Only 5% of assets (savings) are counted towards paying for college.[/quote]

Ha, ha, ha, ha! Maybe if you are low income. Most private colleges want you to raid your retirement, remortgage your house, take out loans… [/quote]
+1  That's why they also ask for the market price of your house.[/quote]

Yes, and whatever the equity of your house--5% is expected to go toward COA. [/quote]
Is it only 5%?  Where does it say that?[/quote]

That's the fafsa formula. CSS schools calculate however they like. You can reverse engineer somewhat using their own NPC calculators but I've not done it.[/quote]

No they don’t.

It’s 5%. The difference in financial aid at CSS schools depends on how much home equity is capped or not included, income protection percentage, amount of asset and income allowances subtracted from assets.

https://secure-media.collegeboard.org/digitalServices/pdf/professionals/what-is-institutional-methodology.pdf

https://collegeaidpro.com/how-home-equity-affects-the-css-profile/

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