Hi all,

I have a junior in high school right now, so I'm learning all of the in's and out's of college financial aid, etc. I have read from multiple sources that the money you have in retirement assets (traditional IRA's, Roth IRA's, 401k's, etc) is not included in the calculation of EFC under any of the three EFC methodologies. I have a rollover IRA. Is that also considered the same category of retirement asset and thus does NOT count against me when calculating my EFC?

(By the way... college financing really sucks big donkey balls.)

Thanks for any help you can provide!

Chris

As far as I'm aware, yes...I've had to do the FAFSA twice now, and each time I complete it I do so with the understanding that any type of IRA (rollover included) fund is NOT included when declaring investments.

quote:

Originally posted by at-home-daddy:
As far as I'm aware, yes...I've had to do the FAFSA twice now, and each time I complete it I do so with the understanding that any type of IRA (rollover included) fund is NOT included when declaring investments.

i agree

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Depends on the college - ALL will require FAFSA where the IRA is not looked at.

Higher end schools will also want the CSS profile - so financially invasive and inqusitive they will make your colon exam welcome in comparison

quote:

Originally posted by sgalczyn:

Higher end schools will also want the CSS profile - so financially invasive and inqusitive they will make your colon exam welcome in comparison

No kidding...I had to fill the CSS out because one of the private schools my daughter was interested in attending required it, and I couldn't believe the intrusive nature of that one. And after all that, they came back with a tiny token award, after initially not awarding anything at all, subsequently requiring a phone call from me. Granted, I understand that there is no guarantee of any award just because one takes the (very generous) time to fill the thing out...but I won't pretend it didn't miff me a bit. She ended up going elsewhere, so at least I don't have to redo that one every year (OP: always remember that the FAFSA has to be resubmitted each year with updated information).