<p>Pacnorth, yes, it could be worth something at a school like Albright that guarantees to meet EFC excluding discretionary expenses, but that is the only school that has such a guarantee. What you would be doing is raising the ceiling for your student’s POSSIBLE financial aid package at those schools that use EFC alone to determine need. If you can bring down the institutional expected contribution as well, at those schools that use PROFILE and guarantee to meet full need, or tend to meet full need, or at very least you might lower that ceiling as well, yes, it would make a difference.</p>
<p>So, yes, if it doesn’t cost you a lot, and isn’t too much trouble, go on ahead, but don’t assume it will make a whole lot of difference. Because:</p>
<p>1) Most schools don’t meet full need anyways, so that you may not get that additional amount. Or if you get it covered it might be via subsidized vs unsubsidized loans, which may not make a whole lot of difference. Or your student may just get work study. </p>
<p>2) Those schools that tend to meet a goodly amount of need, may use PROFILE which may just include your LLC assets, and add back the income from anything there. Maybe not. But PROFILE schools tend to do that. Look at a PROFILE and see if it addresses LLC assets and income, and see what a difference it makes.</p>
<p>But it does give your student eligiblity for federal fund and if your state has them and it brings you under the theshhold, sometimes state funds. </p>
<p>What I warn peope agains is going through financial contortions expecting a whole lot more money when it likely is not going to happen.</p>
<p>However, a friend of mine did get some extra money from some school, albeit mostly in student loans by reducing EFC by making her ex the custodial parent (had student spend more time with dad that year). BU and a few other schools did come up with some financial aid that the young man would not have gotten with my friend as the custodial parent, because her EFC was over $60K. Though she had to include her info on PROFILE as NCP, apparently NCP financials are hit less hard at some schools. At some schools, he got a big fat zero in aid, other than subsidy on the Student Loans ($3500 of the loans had their interest not accrue while he’s a full time student), But a few schools did come up with some of their own money for him, not much but some. It also made him eligible for work study, but they don’t want him working the first year, and most kids can find jobs around campus without that option, but it did add that option.</p>
<p>But with an EFC in the level over around $6K, there are no federal grants to which your son is entitled. The PELL and Direct (Stafford) Student Loans are the only federal entitlements, and pretty much any studnet can take out the loans, with or without need, and the difference amounts to the possibility of having the interest on $3500 of it deferred in its onset that freeshman year which can save under $150. </p>
<p>But every bit helps. It’s just is it worth the cost and trouble to do what you have to do with your assets, or your business? if it’s no big deal, go on ahead. If it’s going to bring risks and cost you a lot, reconsider. Maybe give it a whirl and see what the impact is. </p>
<p>What schools does your student have in mind?</p>