How a 401(k) affects financial aid / admissions

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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gable sans stache
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How a 401(k) affects financial aid / admissions

Postby gable sans stache » Fri Mar 01, 2013 4:48 pm

I'm eligible for a 401(k) soon at my job, and I'm planning to apply next cycle for fall of '14.

I like the idea of a 401(k), but I'm curious as to how this affects need-based grants and financial aid. I can imagine it would slightly increase my modest income on the books, but I can also imagine that it would carry some sort of positive weight in the admissions process, if it's even visible. Anyone have experience with this?

Thanks and be gentle - this is obviously nowhere near my field of expertise.

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bandenjamin
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Re: How a 401(k) affects financial aid / admissions

Postby bandenjamin » Fri Mar 01, 2013 6:26 pm

Has never affected me and I've had one for a long time.

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Tiago Splitter
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Re: How a 401(k) affects financial aid / admissions

Postby Tiago Splitter » Fri Mar 01, 2013 8:31 pm

They won't ask about it on the FAFSA, but it does come up on Need Access so it could affect you at schools using the latter form.




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