FAFSA and 529s

mercurysound
Wed, 02 Jan 2013 15:54:14 +0000

Hello all. I’m a divorced father and will be the custodial parent applying on the FAFSA. None of the colleges my daughter is applying for require the CSS profile. After researching this for the past few days, I’m going to disclose the 529s that my ex wife owns with daughter as beneficiary (I’m a “successor participant” on the 529 - don’t own the 529 but if my ex dies I take it over, etc). Anyway, since the FAFSA only has that one box (#89) that covers the sum total of my investments, I just want to make sure that FAFSA knows I’m claiming the 529s because my whole motive for doing so is to make sure that when my daughter draws money out of the 529 next year and puts that on next year’s FAFSA app., that we are evaluated on the kinder scale of the parents’ assets rather than the student’s income. Hopefully I’ve made this clear. Thanks in advance.

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