Unlike parental assets, the child’s assets count for more in aid calculations, typically up to 20 percent. Therefore, one of the most practical solutions for college funding hitches whereby a college-bound child has several assets to his name is to transfer them to their parents. Transferable assets include noncustodial accounts (e.g. regular savings, certificates of deposit) and Series I and EE savings bonds. Conversely, custodial accounts and trust funds must remain in the child’s name.
http://collegefundingfreedom.com/solutions-college-funding-factors-can-affect-financial-aid/
No comments:
Post a Comment