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#46163 - 07/03/10 05:46 AM What does this mean?
Sandflint Offline

Registered: 07/03/10
Posts: 1

Under the state plan summary, it says below...

"Does the sponsoring state exclude the value of an account for state financial aid purposes?" and most of it says "No".

Is this because financial aid only takes 5.6% into calcuation? It's small percentage but not 0% so it's a "No"?


#46166 - 07/06/10 08:06 PM Re: What does this mean? [Re: Sandflint]
TexasCFP Offline

Registered: 08/23/01
Posts: 867
Loc: Plano, TX, USA
When states craft their rules they can make 529s "Excluded Assets" and not factor them into EFC calculations as a means of encouraging savings. As you've discovered, most states merely treat 529s as "Assets".
David Hollands, CFP


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