Living/Family trust

Paying for College
1

<p>I would llike to find out what you can suggest me. I have been planning to prepare a living trust. I have one amost 18 years old son who is a student at the University of CA. I am wondering what would be the impact for him when applying for financial aid. Would fafsa look at a family trust as a way to avoid assistance or how about having a home owned by a undergraduate student? Any help and ideas?</p>

<p>Thanks so much.</p>

2

<p>A trust is not protected in the FA process but must be reported as an asset on FAFSA.</p>

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<p>Income has a much higher impact on the FAFSA EFC than assets.</p>

3

<p>I have an idea. Pay your kid’s tuition. You can obviously afford it.</p>