sonny98, you wrote
"Income may or may not effect aid. Depending on low it really is or made to look low."
Can you explain this further. Isn't income main driver in determining aid? I know it is under the Federal Methodology (FM), but you would know more about the Institutional Method (IM).
You also said the you do not view the 529 funds any diff than other parent asset. Does that mean the equity in your home is also equal to a 529?
bwilk,
I don't see in agalkin's post where he said don't save. He actually said to save in assets that do not count toward financial aid.
Now I will say (again, see my earlier posts)If you are a low income earner, DO NOT SAVE FOR COLLEGE, your money is better spent on other needs. Let the Financial aid process help you out, that is what it is really for.
Not an urban legend.