<p>Does the 529 get reported as the parents or childs asset. Also savings bonds that are payable to either the parent or child- where do you list them?</p>
<p>Thanks</p>
<p>529 is reported as the childs asset. Perhaps the dumbest thing I could have done.. (start a 529) at leas my own asstes are calculated as "partial" the kids assets are 100% for education.</p>
<p>When filling out the FAFSA, I called them about this question. I was told that the 529, which is in the parent's (or other relative's name), with the beneficiary being the child, is counted as the parent's asset. </p>
<p>Since we have two 529's, one for each child, I asked them if I had to report both, and was told that I did. This didn't make sense to me, because, obviously, there is one for each child. But that's the way it is with the FAFSA. You don't get to explain much about your income and expenses.</p>
<p>One of the positive aspects of the 529 is indeed that it is a parental asset not the beneficiary's.</p>
<p>Better yet, have a 529 in the grandparents name and it does not have to be reported at all</p>
<p>I think with savings bonds , if they are not cashed until Senior year of college , they do not have to be reported but perhaps someone knows if that is true ? I could no0t find the answer in the Leider book . Does anyone know if savings bond , uncashed , have to declared as assets . Also if Grandparents' names are on them and she is deceased , are they assets of the child ??</p>
<p>I believe uncashed bonds DO have to be reported as assets. We were told to use one of those Wizard pgms to determine current value as of the FAFSA date. Best to cash those in child's name before senior yr of HS or they are counted as child's assets. Those in parent's name (& bought during certain yrs, etc) can be tax-free if used for tuition (not room & board). Forget the details.</p>
<p>excellent resource that I found at CC but concerns EE, 529, ESP, prepaids tuitions...savingforcollege...</p>
<p>I would Highly recommend and the kind people will clarify the claret.</p>