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I am not sure whether 529 college savings plans can affect eligibility for need-based federal student aid. Anyone know some details? 

Asked in Financial Aid - 1228 days ago

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City: Gulfton

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Vic Kaspar
Vic Kaspar
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Best Answer

529 plans owned by the parent or student

The cost of attending-Expected Family Contribution (EFC)= amount of aid that student could receive.

Money inside of 529 would be counted as EFC, which would reduce the amount of eligible aid for student.


If you are interested, there's a College Planning Day for parents and student on August 14 @ 2500 E T C Jester Blvd. suite 345. Seats are limited so rsvp.

Answered by Jing Wang at Aug 9, 2016 01:34 AM

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Jing Wang
Jing Wang

Jing thanks very much for your advice!

Answered by Vic Kaspar at Aug 19, 2016 02:30 PM

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Vic Kaspar
Vic Kaspar

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