Learning Library Quick Answers Financial Aid Planning

Should a 529, owned by an Irrevocable Trust, be included as a child's asset on the FAFSA?

Scenario: A senior high school student's grandmother purchased a 529 for his/her benefit and the owner is an Irrevocable Trust.Sho....

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Should a client include a 4-year university on the FAFSA if he/she plans to attend a 2-year college first?

Scenario: A high school senior is leaning towards attending a community college for 2 years before transferring to anout-of-state ....

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Should a client, who is recently separated, consider filing a separate tax return for financial aid reasons?

Scenario: A client is recently separated. The client would like to use the wife's income (it is low).If the husband and wife were ....

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Should a grandparent included as a member of the household when filing the FAFSA?

Answer: Yes, if the parents are providing more than half of their financial support.....

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Should advisors approach college planning differently for graduate students?

Answer: Essentially, the EFC calculations are done the same, except in most circumstances the student will be independent. The FAF....

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