Expert: David Disraeli - 7/26/2009

Question
i GOT FINANCIAL AID FOR MY DAUGHTER BUT I AM SELLING MY HOUSE AND WILL HAVE MONEY BUT PLAN TO BUY A NEW HOUSE USING THE MONEY EXCEPT FOR 20,000 THOUSAND WILL THAT DISQUALIFY HER FROM FULL AID

Answer
Hi, first I apologize for not answering sooner.  I was just notified today, the 2nd of August of your question.  I don't know how old you are but you don't have to count about $50,000 of assets.  It is roughly $1000 times your age.  Even if you had more assets what counts is what you have on hand the day you file the FASFA.  I'm sure you can be a little creative or strategic about how to do that.  Please let me know if this answers your question.

David Disraeli, CFP
david@lifepln.com