The National Directory of Certified Public Accountants

Ask A CPA - College Planning & Financial Aid

Are My Retirement Accounts Considered In The Financial Needs Analysis FAFSA Form?

Under the current needs analysis methodology approved by the U.S. Congress, the value of your retirement plans (401K, IRA's etc.) is not considered an asset and not reportable. Money you save in your child's name is counted as an asset and reduces your eligibility for financial aid.

If you need professional help with "College Planning & Financial Aid" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.