<p>Other thread…OP has $200,000 in savings, and $125,000 in a 529 account. </p>
<p>There is no question that these two assets are making the FAFSA efc what it is, in my opinion.</p>
<p>But I will post the same thing on this thread as the other. The 529 alone has $125,000 in it. That is $30,000 a YEAR for four years. This should cover an instate public university without difficulty. If additional money is needed, the student can take a $5500 Direct Loan. There is no need to touch the mom’s other savings.</p>
<p>I’m not sure I understand the issue here. This parent has $30,000 a year in a 529 account for college. Surely there is a college that meets that price point in the public universities in their state.</p>
<p>The ONLY guaranteed thing the student might gain by qualifying for the simplified needs test and auto $0 EFC is a $5600 Pell grant. FAFSA only schools do NOT guarantee to meet full need for all, so really, the only guarantee would be that Pell. Is it,really worth it to take a gap year for $5600 in Pell grant money when the parent HAS $30,000 a year already in a 529?</p>