Why Your 529 Plan Is Hurting Financial Aid Eligibility

We break down the often-overlooked financial aid penalty where state-sponsored education savings accounts count as parental assets, potentially reducing grant eligibility by up to five percent annually. Lucas and Luna examine a specific family scenario in Ohio where a twenty thousand dollar 529 balance triggered a significant reduction in expected family contribution, forcing a rethink of how to structure wealth for college. This episode covers the nuanced rules of the Free Application for Federal Student Aid, the difference between asset protection allowances, and why some families choose to delay contributions until after the student's freshman year. #529Plans #FinancialAid #CollegeSavings #StudentLoans #FAFSA #ParentalAssets #EducationFunding #FamilyFinance #WealthManagement #HigherEducation #GrantEligibility #ExpectedFamilyContribution #AssetProtection #OhioTaxDeduction #FinancialLiteracy #FexingoBusiness #BusinessPodcast #PersonalFinance Keep every episode free: buymeacoffee.com/fexingo