Inherited IRA

blossom
Mon, 29 Jan 2018 21:16:11 +0000

Unless the parent misheard, or the D misheard, the language used is SO not what a financial aid officer would tell a student at a not-for-profit. And since “court reporting school” doesn’t sound like a non-profit, degree granting institution and sounds very much like a for-profit business, I am suspicious.

Yes it matters. The amount of fraud that takes place at for profit institutions is horrifying. Just trying to clarify here if this is for a Bachelor’s degree, an AA, a certificate or whatever. I would be looking very closely at the financial underpinnings of any college which made such a request (or demand) of a student.

It’s perfectly permissible to say that kids with assets of X don’t qualify for institutional aid until they’ve exhausted those assets. It’s another to tell a kid- liquidate your account before we’ll consider giving you aid. Note there are no guarantees here- the D could liquidate the account and STILL not qualify for a penny.