A few days ago

How should I handle my savings when applying for financial aid?

I have a good amount of money saved up in the bank, and soon I will be applying to colleges and all that jazz. I’ve been told that it’s best to take your savings OUT of the bank to receive better financial aid, but this doesn’t seem right to me.

How will my personal savings account affect my college aid benefits? Will I receive less grants and waivers? Will I be expected to contribute everything I have toward tuition and fees?

Top 2 Answers
A few days ago

Favorite Answer

when i graduated high school i had a lot of money in my savings account. and i mean a lot. But when i applied to get some scholarships/financial aid i was turned down not by savings but by the income i was receiving. My family was making to much money. actually just my dad. he was taking in enough money each month so all i was offered were loans. But what they didn’t look at is what my dad was already paying such as insurance, taxes, loans, and mortgages.

My dad makes about 35 an hour and they think that that is enough to pay for my college. so i don’t think your savings is really going to account for the money you get.


4 years ago
helpful, you would be wanting it to purchase your books and components the beginning up of next semester, alongside with paying your summer season semester expenditures while they do no longer disburse economic help. each and every physique, which comprise your mothers and dads, are incorrect. It would not impact something.