In my most recent substantive post, I provided a heads-up about how trusts are considered assets for the purposes of calculating financial aid for U.S. colleges. 

A useful explanation of how business interests are calculated can be found on that same site,

For most of my clients, what is important to know is that a family-owned business with 100 or fewer employees is not considered an asset for the student or the parents.  Family-owned means owned by the student or persons directly related to the student such as a parent, sibling, "or cousin" OR persons related (or previously related) by marriage such as a spouse, stepparent, or sister-in-law.

 I'm not sure just how "direct" the relationship is between cousins, but I've got to assume that if cousins are directly related for this purpose the same can be said for aunts and uncles. 

In calculating the size of the business the threshold is 100 employees "or full-time equivalent employees."  So you can have more than 100 employees so long as some are part-time and the full-time equivalent of those employees doesn't exceed 100. 

This can be really good news for a number of my clients (and was a welcome surprise to me when I applied for financial aid for my son).  But remember that the income earned from that business will still be countable when it is earned by the student or the parents.