Predicting financial aid eligibility is no easy task since it is based on a myriad of factors, including income, the age of the parents, and the methodology used.  A question that always arises when discussing the benefits of saving for college is the impact those savings will have on future financial aid.  Investing in a college savings plan can affect financial aid eligibility to some degree, but 529 plans are typically viewed as a parental asset, rather than a child's and that means that a financial aid officer would count only a small portion of the assets toward the financial aid eligibility. If the account owner is not the parent or dependent student (perhaps a grandparent), eligibility for financial aid is not affected, but distributions from grandparent-owned plans will likely be attributed to the student.