Will investing in a 529 plan through Backer impact my child’s financial aid eligibility?

A 529 plan is considered a parental asset on the FAFSA, so it will affect how your Student Aid Index (SAI) is calculated. However, your SAI will increase by at most 5.64% of your 529 assets, which is much lower than the 20% of student assets (like UGMA/UTMA).