A question on Financial aid

Shree
Fri, 10 Dec 2004 10:13:30 +0000

The financial aid officer at D’s college referred to our 401K contribution as “discretionary income” that we could use to pay for her college. Her argument was that in very real terms, we had a choice as to where we put that money and they would rather see it going towards paying for her college. They factored it in when calculating her aid package. The good news, as Drusba points out, is that they don’t take into acount the money that is ALREADY in the 401K account when making their calculations.