CSS Profile - "How much do parents plan to contribute?" [but don't include loans...] ??
There's two places in the CSS: Household Summary/Dependent Education Expenses and Student Income/Student Resources--where the question is essentially how much the parents plan to contribute towards educational expenses in 2018-2019 either for the student's siblings or for the student herself. Last year we put an amount approximately = to the FAFSA EFC, which we planned to pay from savings in a 529 plan. But we've just about exhausted those 529 savings and now plan to take out a home equity line of credit (i.e., BORROW) to make contributions towards school expenses for the remaining school years for both of our kids. We have some taxable savings and investments, but do not want to liquidate them to pay tuition, doing so would have a big capital gains tax impact and make our income look even higher for the next year's FAFSA and CSS. So borrowing on home equity makes more sense for us. However, the instructions in both of these places say "Do not include amounts they [parents] plan to borrow..." That says our daughter should enter ZERO into these lines. That seems really strange--but that's what the instructions say. We're concerned if/how this will help or hurt her prospects for aid. Any thoughts on this? [I tried to find a thread on this topic to avoid creating a new one but no luck, sorry if this is already discussed somewhere...]16 replies
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