Many Americans need help when faced with a major expense or financial hardship, whether it’s paying for college, health care, food, or living expenses, or resolving debt, and in order to overcome these challenges they may seek financial aid through a federal program or process.

Depending on the program and the financial help needed, having money in a retirement savings account could affect how much financial assistance an individual receives.

Before applying for government assistance, consider how each of the below programs stand to impact your savings.

|

Student financial aid

For many individuals, financial help is necessary when paying for higher education, especially as the price tag continues to grow.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.