529 assets on FAFSA and CSS: One child or all?
2023年12月19日 · NASFAA: “Education savings accounts: Previous instructions on education savings accounts like 529 plans included confusing and, at times, conflicting information. ED clarifies in this final version of the FAFSA that parents of dependent students should report as parental assets only the value of college savings plans designated for the ...
FAFSA - two 529 accounts, 2 kids. Question abount parent's …
2009年1月12日 · <p>For a UGMA/529, the account remains a 529 and is thus restricted for use on qualified education expenses. Of course, any 529 can be liquidated and the funds withdrawn if the owner is willing to pay penalties and taxes on any gains in the account.</p>
FAFSA didn't ask for bank account balances and investments?
2015年2月7日 · We just filled out and submitted our FAFSA form online. I was all ready to fill in current checking account balance information and looked up the value of our (almost nonexistent) PA 529 account and savings bond. But all it asked was if we had assets over $33,100. We said no of course because we don’t have assets that high. I was just worried if I did something wrong. …
Multiple kids, FAFSA, and 529 accounts - College Confidential …
2015年2月23日 · Yes, for FAFSA purposes (with CSS Profile it depends on the school) a student-owned 529 account is counted as a parent asset and is assessed at the lower 5.6%. In this context “in Kid #1 ’s name” must mean that Kid #1 is not simply the beneficiary of a 529 account owned by someone else, but that Kid #1 is the actual account owner.
Move Money Out of Student's Account Before Submitting FAFSA?
2015年1月13日 · Based on your logic, a student who has $100k in a savings account that would otherwise be assessed by FAFSA at 20% could “gift” that money to the parents, and it would then be assessed at 5.6% by FAFSA, after any applicable asset protection allowance. Presto, you have an immediate EFC reduction of at least $14,400.
529 Plan Ownership -- CSS PROFILE - College Confidential Forums
2009年12月27日 · Assets that are held in Section 529 prepaid tuition or college savings plans or Coverdell savings accounts should be listed as parent assets in PA-120. If you have a 529 plan as part of a Uniform Gift to Minors Act (UGMA) account or Uniform Transfer to Minors Act (UTMA) account or that was funded from assets from an UGMA/UTMA, it is considered ...
529: a worthwhile investment - College Confidential Forums
2024年1月18日 · But if you do have more savings, then OK, you can put some of those extra savings, maybe a lot of them, into a 529 instead of a taxable account. So personally, I agree being positive about 529s should never be taken as meaning 529s are a necessity, or a priority over retirement savings.
Credit card and 529 Funds - College Confidential Forums
2023年12月16日 · No. Payments from the 529 account can only go to the 529 account owner, the 529 beneficiary or the school. For reimbursing the credit card charge of a 529 qualified expense, have the 529 distribution go to the credit card holder (the student beneficiary or the parent/529 account owner).
Question about a 529 savings plan - College Confidential Forums
2009年12月28日 · My bank has a 529 savings account as opposed to a mutual fund instrument and I would be using the former, purely to save on my state income tax bill for 2009.</p> <p>Thanks for any info or tips.</p> vballmom December 28, 2009, 1:24pm
529 plan - Paying for College - College Confidential Forums
2022年11月1日 · When filling out the CSS Profile we got a supplemental question from 2 colleges: If any of your assets are from Section 529 college savings or pre-paid tution plans, what is its value? The heading above this question is: Supplemental Questions - Student Finances. I (parent) own this account however it is my son’s name. I am confused if I should list the value of the …