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Financial Planning / Paying For College


Subject:  Re: Parent vs Child Assets Date:  7/24/2001  12:41 AM
Author:  Gary11112 Number:  4074 of 8558

Jenn, I did a "practice run" of filling out a FAFSA and didn't see any question relating to the student giving away money. It only asked for net worth as of the date the FAFSA was filled in. Also, how would a gift of less than $10,000 affect anyone's income?

You are certainly correct that there would be raised eyebrows among the FA folks if they know the student gave money away. They will only know if I tell them. I'll only tell them if they ask. I didn't see anything in the FAFSA that would automatically cause them to ask. On the other hand, it may be a question they routinely ask.

Thanks for your response.

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