Check my math, please - IRA vs. 529

thumper1
Thu, 15 Mar 2018 22:25:34 +0000

@hillite

All these financial gymnastics might actually NOT get you a nickel more need based aid. Need based aid is largely based on your income with assets assessed as well.

So…if your income is above a certain threshold, your kid might not get any need based aid…anyway. Most colleges do NOT guarantee to meet full need…and they don’t.

The schools that do meet full need take a closer look at your finances either via the CSS Profile or their own form. Your business ownership could very well factor into this. There are deductions allowed by business owners for IRS purposes that are added right back in as income for financial aid purposes. This is likely THE reason it will be difficult for you to use the NPC. The value of your business…and those deductions could very well be used by Profile schools.