Thank you @cptofthehouse
Our student is a junior this year so 2019 will be the year of our initial fafsa. We won’t have that money as cash by October for her FAFSA filing.
We are leaning toward using some to make a (non-deductible) retirement contribution and some to pay down our mortgage. Those should shelter it from asset consideration, but not income, right? I was just wondering if there were ways we should try to lower our income calculation. If we can’t, we can’t!
Sheltered or not, we think this is probably the best way to allocate this unexpected money, unless it really hurts financial aid calculations.