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Quesion about FASFA student assets and multiple kids


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I am filling out the FASFA for my oldest, who is a senior in high school, and I have a down-the-road question for when I have more than one in college. I have always heard that a family's EFC will be divided by 2 if there are two kids.

 

How are student assets handled? Do they "count against" each child equally? I understand that 529 plans for any child count as family assets for the family no matter which child is going to college.That got me to wondering about each student's assets. My oldest has a modest savings account, but she plans to co-op while in college. So, that account could have a decent amount of money when child #2 enters college while #1 is still in school.

 

As I said, I am brand new to the FASfA, and I don't see how that is handled when there are two children. Any BTDT advice, so this doesn't drive me nuts for the next couple of years?

 

Thanks

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  • 2 weeks later...

One student's assets do no affect another's FAFSA. In Jan. I did the FAFSA for our 3 kiddos - oldest is 2nd year of college and next two are both seniors. Oldest has a higher EFC than the younger two since he had an engineering internship last summer and made some good $.

 

HTH,

Kimm

 

 

Thanks everyone. Kimm, my kid is planning on co-oping and will have more assets than the next kid. I had always heard that when you have more than one, you take the EFC and basically divide by 2. So, I guess you do that with parent's EFC, but each child gets a their own EFC.

 

Thanks again.

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