FAFSA help! Do you want to skip questions about your assets?

[vetwardbound]

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Members don't see this ad.

I can't decide about this:

"Do you want to skip questions about your (and your spouse's) assets?
Note: Some schools may require answers to these questions to determine your eligibility for school aid. However, answering these questions will not affect your eligibility for federal student aid, such as a Federal Pell Grant."


Any advice??

 

[athenaparthenos]

If you actually have assets you may as well fill out information about them, since it doesn't sound like it will penalize you loan-wise and some schools do require it. It kind of sounds like it's just for your convenience to skip them. I'm assuming by assets it means things like stocks, owning your own home, etc.

I'm 23, living with my parents, and have $500 in savings. I skipped that section.

 

[Hobiecat1642]

athena, we're the same person. I laughed out loud when I read that section.

 

[VAgirl]

I'm assuming by assets it means things like stocks, owning your own home, etc.

I'm pretty sure the home you own isn't considered an asset (or an investment? I know it's not considered an investment) if you live in it. FWIW.

 

[runnerDC]

Correct. The home you own and live in is considered your primary home by Federal aid standards and, therefore, will not be counted in your Federal aid package. Similarly, any retirement accounts you might have are also off-limits.
For school-based aid, however, these things might be asked for and considered when your school's financial aid office doles out their goods. I know Tufts looks at primary home AND retirement accounts as assets when divvying up their school-based grants, loans, etc.

I'm pretty sure the home you own isn't considered an asset (or an investment? I know it's not considered an investment) if you live in it. FWIW.