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does LU FA protect home and IRA assets?

roderickroderick Registered User Posts: 1,488 Senior Member
edited February 2009 in Lawrence University
I posted a version of this question in the financial aid section of cc, and it was suggested to post here since it is an Institutional Methodoligy FA question ( I already know that the feds exclude home eq and ira in its EFC calc).

So plug in LU in place of IM in the following post.

http://talk.collegeconfidential.com/financial-aid-scholarships/646979-what-pct-amt-house-ira-exempt-calc-ing-efc.html
Post edited by roderick on

Replies to: does LU FA protect home and IRA assets?

  • OperaDadOperaDad Registered User Posts: 2,476 Senior Member
    You should ask LU. In my experience, they don't adjust the Federal EFC.
  • roderickroderick Registered User Posts: 1,488 Senior Member
    opera, I will definitely call LU. Just trying to gather some more intel. In your experience, does LU, then, NOT include IRA money as well as home equity in the determination of its EFC nmbr (assuming you have IRA, and HE)?
  • OperaDadOperaDad Registered User Posts: 2,476 Senior Member
    However the Fed's calculate EFC is how LU takes it. No adjustments.

    What you can do is:

    Fill out the FAFSA without the info (and no school info, or a random school), and submit.

    Get your EFC.

    Add the additional info, and put LU in (and take out the random school), and submit again.

    Get your new EFC.

    Compare the two.
  • roderickroderick Registered User Posts: 1,488 Senior Member
    thanks for the reply, opera. when you say to put LU in the fafsa, isn't that simply to specify a school to send the fafsa TO ? if so, I wd expect to change to the fafsa. but I can try it and see.

    doesn't LU have its own financial aid app that is distinct from FAFSA? if so, I wonder if IRA and HE is asked for?
  • OperaDadOperaDad Registered User Posts: 2,476 Senior Member
    when you say to put LU in the fafsa, isn't that simply to specify a school to send the fafsa TO
    yes
    doesn't LU have its own financial aid app that is distinct from FAFSA?
    yes, you can download it from their site. It asks for:

    Family size
    Home value & debt
    Business value & debt
    Outside scholarships received
  • roderickroderick Registered User Posts: 1,488 Senior Member
    thanks, opera
This discussion has been closed.