<p>We have the Florida prepaid program (529). It can be used out of state or for private colleges (an amount equal to the going rate for our in-state tuition). How does that figure in to the net price calculators and the amount of money we will have to pay out of pocket for those private colleges?
My thinking is that it doesn't count (as any sort of income or savings), and can just be put toward the amount we'd have to pay, is that correct?</p>
<p>If anyone has recently used Florida prepaid for a private or OOS school, and had signed up for the 'Fees' prepaid also, did that help toward the OOS/private school too, or was it strictly the tuition amount?</p>
<p>529 funds get treated as parent asset.</p>
<p>If your prepaid is owned by a parent name or the child name, it has to go on the FAFSA. When you fill out your FAFSA, call the prepaid college office and ask them what to put down for the value of your account. It will be treated as a parental asset which is assessed at 5.6% after your asset protection allowance. If the prepaid plan is owned by the grandparent, I don’t believe it shows up on the FAFSA. Note that schools that use the CSS Profile are free to assess it however they want and I seem to remember a question that would include a grandparent or sibling 529.</p>
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<p>Indeed, a grandparent-owned 529 does not show up as a family asset on FAFSA. But, in that case, any amount that’s used in any calendar year gets treated as income for that year!</p>