It's not quite $EverythingYouveGot (for parents), but $EverythingYouveGot - $WhatWeThinkYouReallyNeed. Financial aid offices compute an allowance for parents, a

It's not quite $EverythingYouveGot (for parents), but $EverythingYouveGot - $WhatWeThinkYouReallyNeed. Financial aid offices compute an allowance for parents, and then demand the "extra" money. It is "Everything You've Got" for students, though. If you have any college savings in your own name (or earn any scholarships), it will simply cancel dollar for dollar with university grant aid. Unless you can save more than the total of your grant over 4 years, better to spend it before the first financial aid paperwork (or not save it at all). Though this only comes into play at a school that offers substantial grant aid. At a state school your savings can actually help.