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529 assets on FAFSA and CSS: One child or all? Draft FAFSA: “Investments also include qualified education benefits or education savings accounts such as Coverdell savings accounts, 529 college savings plans, and the refund value of 529 prepaid tuition plans
does FAFSA ask worth of siblings assets? - Paying for College . . . Your parents must report in Question 90 all qualified educational benefits or education savings accounts, including Coverdell savings accounts, 529 college savings plans, and the refund value of 529 prepaid tuition plans that they own for any member of the household
Multiple kids, FAFSA, and 529 accounts - College Confidential Forums Background: Kid #1 is entering college this Fall When filling out the FAFSA, was surprised that ALL 529 savings count towards our EFC We have separate accounts for Kid #1, Kid #2, Kid #3…all two years apart FAFSA didn’t care… reasoning that all 529 funds are at our disposal now to fund Kid #1 It seems to me that we’d be better off draining the 529 savings for first two years of Kid
Help with CSS Profile - Page 2 - College Confidential Forums "Section 529 College Savings Plan asset of account owner (low impact if owned by student or parents; high impact if owned by a third party)…Custodial 529 college savings plans owned by a student, where the student is both the account owner and beneficiary, are reported as a parent asset if the child is a dependent student and a student asset
CSS Profile Siblings Asset Questions - College Confidential Forums It gets listed as an asset on the FAFSA and Profile In terms of those other accounts…college savings accounts…you need to list them all if you are the owner because in most cases those funds could be transferred from sibling to sibling @BelknapPoint does a better job of explaining this than i do!
529 tax penalty for flight school - College Confidential Forums My family invested in a 529 savings plan for my nephew’s college fund He decided to go to flight school I understand that flight school if not consider continuing education He is 21, decided to be a pilot, and the plan penalizes him by $5000 00 That seems unfair How would I go about getting a waiver or lobbying to change this policy
529 Plan Ownership -- CSS PROFILE - College Confidential Forums Assets that are held in Section 529 prepaid tuition or college savings plans or Coverdell savings accounts should be listed as parent assets in PA-120 If you have a 529 plan as part of a Uniform Gift to Minors Act (UGMA) account or Uniform Transfer to Minors Act (UTMA) account or that was funded from assets from an UGMA UTMA, it is considered
Sibling Assets in CSS Profile - College Confidential Forums Someone else will need to verify, but I believe those savings bonds are not your parent assets held in the name of your sibling They are your sibling’s assets Perhaps this question is about things like 529 accounts Because in most cases, these can be moved from sibling to sibling beneficiary , and therefore are all counted
529 reporting question for plan not owned by a parent, but that a . . . Does anyone have experience or advice on reporting requirements for a 529 plan that has the student’s sibling listed as a beneficiary, but is not owned by the parent(s)? The parents are aware of the 529 plan because they have contributed to it, but they are not the account owner