How Trusts Affect Financial Aid: Rules On Revocable, Irrevocable And Court-Ordered Trusts

Key Points

1. 1
   Federal law lists trusts as a reportable asset, and the Department of Education says a trust is the beneficiary’s asset even when the beneficiary can’t touch the money yet.
2. 2
   Who reports the trust depends on its type. A revocable trust is the grantor’s asset and an irrevocable trust is the beneficiary’s. Student assets reduce ...
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