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Author Topic: Non-Traditional Student: Financing  (Read 974 times)

mediumbinderclips

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Non-Traditional Student: Financing
« on: August 31, 2008, 01:25:53 AM »
I am an older student considering applying for the Fall of '09. I am 31 (does that really qualify as older? sheesh...) and have a young family. I have two FAFSA questions.

(1) Will my FAFSA disclosure include our college 529 fund contributions for my 2 children and will law schools expect that money to be contributed toward my tuition? That seems pretty draconian, but from the information within this forum, draconian policies seem to be the nesting ground for law school admissions and financial aid staff...

(2) My husband and I have managed to pull together a modest-sized nest egg in non-retirement mutual funds. Is it reasonable to assume that any law school would suck this dry and if so, it is in my interest to use that money to pay down scheduled debt (dump it into the mortgage, for instance?) before completing the FAFSA? Without those assets, I am sure we will qualify for need-based aid.

Thanks for the insight