Future LRAP Participants with Assets

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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EijiMiyake
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Joined: Sat Sep 13, 2008 12:29 pm

Future LRAP Participants with Assets

Postby EijiMiyake » Wed Jan 13, 2010 2:44 pm

Any ideas what to do in this situation? I've been working for the past 1.5 years, and by the time I start school, I'll have about $60k in cash and 401(k) accounts. I'm also planning on taking advantage of the LRAP program of whatever school I go to - and it seems like LRAP eligibility has an asset ceiling.

Should I just resign myself to only keeping the max allowed by my school, or is there some way to protect it?

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EijiMiyake
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Re: Future LRAP Participants with Assets

Postby EijiMiyake » Thu Jan 14, 2010 8:57 pm

Any Thursday thoughts?

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GeePee
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Re: Future LRAP Participants with Assets

Postby GeePee » Thu Jan 14, 2010 8:59 pm

You could spend your cash on your LS education...

I'm pretty sure retirement accounts don't count toward your LRAP assets, either. But I could be wrong.

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EijiMiyake
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Joined: Sat Sep 13, 2008 12:29 pm

Re: Future LRAP Participants with Assets

Postby EijiMiyake » Thu Jan 14, 2010 9:04 pm

Harvard, for example, includes retirement accounts.

I will probably have to spend the majority of my cash on tuition and just take out less in loans. It's kind of annoying that I'll be in the exact same place that I would have been if I hadn't saved anything at all, but oh well.




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