529 college savings plan
My fiancé, a single widower at the time scraped snd saved to put money into a 529 plan and when it came time to get any financial aid, she got none because of the money she had in her 529 plan. Not sure your statement about minimal impact is accurate
Terry Says
A 529 plan has a far more minimal impact than money held in a custodial account. If no aid was granted on a needs basis, I assure you it had to do more with his income/assets than the 529 plan.
And he could have contacted the school to ask for “merit” aid, which might have produced some extra money for his daughter.
Financial aid is a complicated process, and I highly recommend getting assistance from a high school guidance counselor — or a professional. Search my columns on College Financial Aid for some more sources.
