Fiction: We have money and assets saved for our child's college education, so we won't get any financial aid.

Fact: It's great that you've completed your estate plan, but this is one of those things that is always evolving and never completely done.

Not necessarily. The federal formula has allowances for savings and assets. You are not expected to sacrifice your home equity or retirement savings to pay for your child's education. Only a small percentage of parental assets are expected to be contributed for education.


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