Do they reduce your financial aid if you withdraw more than your EFC from your 529?

[swimcatsmom]

<p>From a posting on another thread

BTW - if you qualify for need-based aid, don’t w/d more than your EFC from the 529, or the college will reduce some of its aid - dollar for dollar.

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<p>Is that true? My Ds COA is based on 12 credit hours a semester (the minimum to be considered full time) and she is doing 16 credit hours a semester. It is therefore possible we will need to withdraw more than the EFC to pay our share. I had not heard that this might reduce her financial aid. Anyone experienced this?</p>