Should I increase my 401K contributions in order to decrease my income for FAFSA?

Here is my opinion. I would not do anything WRT to my retirement contributions for this one year unless you planned to do this anyway…and plan to do so for all the years your kid is in college.

Remember, most colleges do NOT meet full need for all accepted students, so doing financial gymnastics might not net you a dime more in need based aid.

1 Like