article
DC CPP Cherry Hill: The 1 Shocking Mistake Parents Make searches peak as families plan college finances. Rising costs make timing feel urgent for caregivers.
DC CPP Cherry Hill: The 1 Shocking Mistake Parents Make is confusing the plan with income. This plan helps pay for school but counts as parent income. Mistakes here reduce aid eligibility. Studies indicate understanding rules protects opportunities.
How this approach actually works becomes clearer once families see the rules. Asset location and account naming change expected family contribution. Research suggests small shifts in setup preserve more aid dollars.
Takeaway: Name and place these accounts carefully to protect aid.
What does this plan count as on financial aid forms? Most schools treat it as parent income, slightly reducing need-based awards.
Can moving funds fix issues after setup? Yes, adjusting beneficiaries or location often helps, depending on plan rules.
