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Future LRAP Participants with Assets

Posted: Wed Jan 13, 2010 2:44 pm
by EijiMiyake
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?

Re: Future LRAP Participants with Assets

Posted: Thu Jan 14, 2010 8:57 pm
by EijiMiyake
Any Thursday thoughts?

Re: Future LRAP Participants with Assets

Posted: Thu Jan 14, 2010 8:59 pm
by GeePee
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.

Re: Future LRAP Participants with Assets

Posted: Thu Jan 14, 2010 9:04 pm
by EijiMiyake
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.