As an extreme example (but it illustrates the point): an unemployed family whose only asset is 400,000 in retirement funds would qualify for Federal Student aid. The retirement fund assets are not included in calculations, however income from retirement funds is not excluded.
It’s unclear from the video whether California was going after his retirement funds as an asset in calculations or withdrawals from the funds (income).
But, if the Federal Government sets the example when it excludes IRAs for Federal Student aid, should states take a second look and possibly revise their child support laws to exclude IRAs?
Is he a Deadbeat Dad? What do you think? Tell us in the comments below.
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