<p>Your income will NOT change even if you buy a car. But your assets will.</p>
<p>However, before you do all of these financial gymnastics…what college are we talking about? If the school doesn’t meet full need for all students, you might not get more aid by spending down your savings. </p>
<p>The assessment for student assets is 20%…so you would be expected to use $8000 of that money towards college costs this year.</p>
<p>Someone help me here…if this student’s parent qualify for the simplified needs test, and auto $0 EFC, would his assets even be counted? </p>