The following steps may be taken to reduce the amount of the family's expected contribution:
I. Increase parents' assets and reduce their after-tax income
II. Save money in child's name
III. Decrease investment in 401k) plans
The correct answer is:

Question

The following steps may be taken to reduce the amount of the family's expected contribution: 
I. Increase parents' assets and reduce their after-tax income
II. Save money in child's name
III. Decrease investment in 401k) plans
The correct answer is:

Quizplus · Accepted Answer

The steps mentioned in options II and III (saving money in child's name and decreasing investment in 401k plans) may actually increase the expected family contribution as these factors are used to calculate the amount of contribution. Therefore, it is best to focus on increasing parents' assets and reducing their after-tax income, as mentioned in option I, to lower the expected family contribution.

The Following Steps May Be Taken to Reduce the Amount