At most, only 5.6% of the total amount of college savings could have an impact on financial aid eligibility.

8 янв. 2024 г. · I read online that anything above $17k in savings basically cancels you out from being able to receive most of the money in grants and awards. 10k in savings, how will this affect my financial aid ? : r/FAFSA Does having money saved in a bank account affect your ... Другие результаты с сайта www.reddit.com

25 июн. 2024 г. · College savings accounts started by grandparents have even less effect on financial aid because they're usually not counted at all.

11 сент. 2024 г. · When a college savings plan is listed as a parent asset on the Free Application for Federal Student Aid (FAFSA), it slightly reduces need-based financial aid.

Most people assume that saving for college will result in a high EFC, and therefore less financial aid eligibility. This assumption is false.

Student assets. Assets that belong to the student result in a greater reduction in financial aid. Uniform Gift to Minors Act and Uniform Transfer to Minors Act ...

Cash assets sink financial aid eligibility, but are virtually untraceable unless admitted to on the FAFSA. Declared cash assets should be in the parents' name.

While you may not have as much in your savings account, student assets are weighted more heavily (20% for the FAFSA), so these must be reported, too. Good ...

Many families will be pleasantly surprised that with the FAFSA, their investments make little or no impact on their children's chances for need-based help. ...