<p>I originally filled out the FAFSA online in January using 2009 tax information and just now went in an updated my FAFSA with the 2010 tax information. When I completed the update my EFC went up by almost 10K. I re-checked the form and realized that this time I put the 529 assets under the student instead of the parent. I will go in and correct this, but my question is, would colleges look at the corrected FAFSA or do they simply use the first one. Thanks!</p>
<p>They look at corrections.</p>
<p>Where do you enter the 529 assets? Is there a special place or is just under “assets”?</p>
<p>The value of the 529 is considered an investment, so it is put with that part of the asset information. If the total value of assets is lower than the asset protection allowance, though, you don’t have to report any asset information. I don’t know if the skip logic works when you make updates to assets, though … you may have to report the assets in this case. If so, include the 529 with investments (not with cash/checking/savings). To be honest, though, it is all assessed the same.</p>