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401K Tax Strategies for College

Should I Increase My 401K Contribution To Get More Financial Aid?

by Tom Bottorf

Question: Our son is a junior in high school. I’ve heard that lowering the Adjusted Gross Income we declare on the FAFSA form should help our financial aid eligibility when he begins college. Is increasing my 401K contribution therefore a good strategy for getting more financial aid? Answer: NO! In fact increasing your 401K contributions …

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