Stanford Financial Aid determination & retirement assets ?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
bertrussell
Posts: 11
Joined: Sun Nov 04, 2012 6:49 pm

Stanford Financial Aid determination & retirement assets ?

Postby bertrussell » Wed Feb 12, 2014 6:05 pm

Accepted at Stanford, deferring a couple years to gain WE, enjoy life before 1L, and save up some money. Does SLS count retirement accounts (401k, Roth, etc) as assets for need-based aid determination?

Haven't seen this answered in Stanford's literature/TLS, but if it's somewhere else please direct me there.

kartelite
Posts: 288
Joined: Mon Jan 14, 2013 6:44 pm

Re: Stanford Financial Aid determination & retirement assets ?

Postby kartelite » Sat Feb 15, 2014 4:08 pm

Interested in this as well, and also primary home equity. Yale doesn't count retirement assets/home equity, Harvard does, and SLS makes no mention.

jimbeam21
Posts: 48
Joined: Tue Aug 13, 2013 10:46 pm

Re: Stanford Financial Aid determination & retirement assets ?

Postby jimbeam21 » Mon Apr 21, 2014 6:40 pm

[quote="bertrussell"]Accepted at Stanford, deferring a couple years to gain WE, enjoy life before 1L, and save up some money. Does SLS count retirement accounts (401k, Roth, etc) as assets for need-based aid determination?

I'd throw all your money in a traditional 401k and IRA to decrease your AGI. I made the mistake of maxing out a Roth 401k and Roth IRA, which left my AGI much higher than it needed to be.

JJ123
Posts: 180
Joined: Wed Jun 12, 2013 11:40 am

Re: Stanford Financial Aid determination & retirement assets ?

Postby JJ123 » Thu Apr 24, 2014 5:47 pm

jimbeam21 wrote:
bertrussell wrote:Accepted at Stanford, deferring a couple years to gain WE, enjoy life before 1L, and save up some money. Does SLS count retirement accounts (401k, Roth, etc) as assets for need-based aid determination?

I'd throw all your money in a traditional 401k and IRA to decrease your AGI. I made the mistake of maxing out a Roth 401k and Roth IRA, which left my AGI much higher than it needed to be.


Maybe. It depends on whether they include some of those for AGI deductions in their expected contribution calculation (some schools do). We would need to see their financial aid application form.




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