Some schools take into account real estate assets in their own assessment. But for those that don't, someone with a million dollar home and large 401(k) account could potentially receive more aid than a family with a higher income but far less assets.
For families that have younger children, this could be the right time for a rollover, since the impact on annual income will be over before any FAFSA filing has to be made, Jeffrey E. Daniher, a financial advisor in Cincinnati. Those assets also would have longer to grow tax-free.
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