
ASSET SUMMARY for STUDENT Hope Form
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People also ask
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What should I put for student assets?
How to answer these questions Don't include your parents' assets. Don't include any retirement investments, including 401k or 403b accounts, pensions, IRAs, etc. Enter the current total of any cash you have, and the combined total of all your checking and savings accounts.
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How much do student assets affect FAFSA?
The student asset conversion rate for the 2023 – 2024 FAFSA is 20% of the total value when calculating the expected family contribution (see page 10, line 49 FAFSA EFC Formula Guide.)
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What is student assets?
Assets considered for the FAFSA include: Money, which includes current balances of any cash, savings, and checking accounts. Non-retirement investments, like brokerage accounts, real estate (other than your primary residence), CDs, and stock options. Trust funds.
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Why is FAFSA asking for student assets?
The FAFSA is an application and asks for asset information beyond cash. For almost all applicants the results are driven by income and requires IRS validation. Asset accumulation matters but tends to be secondary to income. Since the outcome is to recieve Federal aid you do not want to commit Federal fraud.
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