This is a question about the impact of one child’s grandparent 529 on another child’s aid.
We have two students in college: student1 at a private school gets lots of financial aid, student2 in very low cost community college doesn’t qualify for aid. Also there’s student3 in her base year. All over 18 by the end of this year.
If student2’s community college tuition is paid from grandparent owned 529, is there any way that could have an impact on student1’s financial aid? I ask that because I understand that grandparent 529 will be treated for aid purposes as income to student2.
If student3 is attending a CSS profile school or school that uses it’s own form for institutional aid, they will ask what schools student 1&2 are attending and how much you are paying for each student, whose much aid they are receiving and how balances are being paid.
If you are not paying for student 2 because tuition is being paid by grandparents, student’s 3 college may assume that the money you would have paid for student 2 is available for student 3
@thumper1 - I think even the FAFSA asks about assets in a siblings name. I do remember seeing more detailed requests for information on CSS profiles. One school wanted to know the year, model and make of all cars owned and when you purchased them.
And the FAFSA doesn’t ask what you pay for a sibling’s college costs. You get credit for having a sibling in school even if that sibling is on full scholarship (except Service Academies). CSS can ask and the schools can consider the information about siblings or not.
Not that I am aware of. Unlike parent income, sibling income is not expected to be available for use by the student to pay for the student’s educational expenses.