Has anyone experienced their financial aid package decreasing in value because their student received money from a relative’s will and then invested that money in a mutual fund? The amount she received is 5K and previously she had about 2K in savings and no other income or job. I realize that the answer is probably very specific to the college and size of FA package.
It will affect the student’s EFC for a future year, but whether or not it affects the financial aid package depends on the school’s policies … and of course, on the package itself. If need isn’t met, it might not have any effect. Then again, it could. You might want to call the school, request to speak to an aid officer (not a student or tech), and pose the question.
You can try hypothetical runs in the college’s net price calculator with student assets of $2k versus $7k.
But note that actual FA may change from year to year for other (possibly college-specific) reasons.