question on FAFSA form?

KellyJef · #1 (**permalink**) 11-03-2006, 09:23 AM

Does anyone know how a 529B education account is reported on the FAFSA form? Is is considered parental income? child's income? not reported at all?

creditcardfree · #2 (**permalink**) 11-04-2006, 09:14 AM

I don't know the exact answer. I tried to search for you, but I didn't have good luck. Since these are different based on the state your 529b account is invested in, there may be different rules. I looked at Nebraska's and found that the account balance does not count towards any of the states financial aid programs, but I'm still not sure about the federal. Maybe someone else will have an answer.

If you save enough in the 529, you won't need the FAFSA anyway!! But, of course, I don't know your situation.