Potential Impact on Financial Aid and Medicaid Eligibility Sample Clauses

Potential Impact on Financial Aid and Medicaid Eligibility. (a) The eligibility of the Beneficiary for financial aid will depend upon the circumstances of the Beneficiary’s family at the time the Beneficiary enrolls in an Eligible Educational Institution, as well as on the policies of the governmental agencies, school, or private organizations to which the Beneficiary and/or the Beneficiary’s family applies for financial assistance. Because saving for college will increase the financial resources available to the Beneficiary, it most likely will have some effect on the Beneficiary’s eligibility. However, because these policies vary at different institutions and can change over time, the Board cannot say with certainty how the federal financial aid program, or the school the Beneficiary applies to, will treat an Account.
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Potential Impact on Financial Aid and Medicaid Eligibility. The eligibility of your Beneficiary for financial aid will depend upon the circumstances of the Beneficiary’s family at the time the Beneficiary enrolls in school, as well as on the policies of the governmental agencies, school, or private organizations to which the Beneficiary and/or the Beneficiary’s family applies for financial assistance. Because saving for college will increase the financial resources available to the Beneficiary, it most likely will have some effect on the Beneficiary’s eligibility. However, because these policies vary at different institutions and can change over time, the Trustee cannot say with certainty how the federal financial aid program, or the school your Beneficiary applies to, will treat your Account. The eligibility of a Participant for Medicaid assistance could be impacted by the Participant’s ownership of a college savings account in a qualified tuition program. Although the result is not clear and may vary from state to state, it is possible that the assets in a Participant’s Account may be considered available assets of the Participant for determining Medicaid assistance eligibility. Medicaid laws and regulations may change and Participants should consult their own financial and/or tax advisors for advice on their own particular situation.
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Related to Potential Impact on Financial Aid and Medicaid Eligibility

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