<p>I'm retired (66) on social security and curious about whether that helps/hurts when applying for aid for my son who starts college in 2012.</p>
<p>Untaxed social security income is not reported on FAFSA. Any that is taxed will be included in the AGI on your tax return and will have to be reported on FAFSA so will affect the EFC the same as any other income. </p>
<p>Asset protection is based on the number of parents and the age of the older parent.</p>
<p>Speaking of asset protection, are GET (Washington state Guaranteed Education Tuition)) credits considered assets?</p>
<p>I don’t know what that is. Is it some sort of savings program?</p>
<p>It’s a 529: [GET</a> | Guaranteed Education Tuition | Washington’s 529 Prepaid College Tuition Savings Plan](<a href=“Washington's GET and DreamAhead 529 Plans - Start saving today.”>http://www.get.wa.gov/)</p>
<p>A 529 account is reported as a parent asset.</p>