I have experience in financial aid and when calculating the EFC (estimated family contribution) or COA (cost of attendance) playing around with the amount a person has in savings makes little to no difference at all. I have seen individuals well into 5 digit savings still receive full PELL/sub. Additionally, when you produce verification for your financial aid, you produce your taxes, w-2's -- not your bank statement. What your tax return says and how many people are in your household have the biggest impact on what you qualify for. There are many different reasons you might have a large balance on the particular day you fill out your FAFSA. Maybe you just got paid, maybe you just received your tax refund, maybe you have a settlement and you have to pay bills out of it -- just because you have money in savings doesn't mean you have all of that available for school. Everyone's situation is going to be different depending on the COA, etc. but I would not personally stress a savings account.
