How will the money saved in the Oklahoma College Savings Plan affect my childs ability to qualify for need based financial aid?
A. The money saved in the Oklahoma College Savings Plan account will be considered an asset of the account owner, not the beneficiary. This is because the beneficiary can be changed. Eligibility for federal financial aid is calculated by a formula which considers a percentage of the assets of the student and their parents. For more detailed information, contact a financial advisor.
