Undergraduate > Graduate Loans

sk8rmom
Mon, 19 Jul 2010 19:55:14 +0000

Ult, I wasn’t speaking directly to your situation…just more of a general observation because many parents don’t seem to communicate exactly what they’re able to do when kids really need to know…which is before they apply! I really didn’t know whether she had a 529 account for you or not, but it sounds like she doesn’t. The savings myth has really been debunked…since parents have a savings protection allowance built into the formula, it usually makes very little difference for FAFSA unless there are significant assets and family income is right on the cusp of the Pell cutoff. I’d agree that it’s always better to have savings and assets that can be used to help fund the EFC and the government and colleges expect that EFC will be funded through a combination of past, present, and future income.