does annuities and lfe insurance count towards college planning
i have college planning companies calling me to write annuities and life insurance so it does not count against the families who are looking for loans and grants.
I thought it all counts unless the annuity or life insurance is under trusts and if you don’t list it, its a Federal law to do so.
Am I correct or wrong on this?
Thank you for any help,
Douglas
Permalink Submitted by Alan - IRA critic on Thu, 2015-08-06 16:09
They are correct. See Item 7 under “Sheltering Assets” in this article: http://www.finaid.org/fafsa/maximize.phtml