Skip questions about assets on fafsa reddit. Student asset on FAFSA .
Skip questions about assets on fafsa reddit #GotItOnStockX Unofficial Reddit community for all things StockX related. ADMIN MOD Fafsa parent’s assets . Of the schools that count primary home as an asset. Get the Reddit app Scan this QR code to download the app now. Does this money counts towards There’s a question on the FAFSA that says: of 2022, I should mark that right? I notice if I mark that I did receive SNAP benefits, the FAFSA takes away later questions that ask about my assets (cash, savings, investments, etc). S. It is per year, thus in your example FAFSA assumes that your parents can afford to contribute 56k for the current year. We put in the actual amount on the checkings and savings question as every google search regarding it said to do, however people are now telling me that I Hi, I’m was doing FAFSA by myself as a student, it asked if I, the student, filed a tax return and I clicked no, because I’m a dependent of my parents’ tax return. 5. It also says I may be eligible for a Federal Pell Grant. If it does ask you, you are legally required to ensure all information in that section is true. A place where you can show off your keyboards, ask questions, or get the latest news! The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and r/ApplyingToCollege is the premier forum for college admissions questions, advice, and discussions, from college essays and scholarships to SAT/ACT test prep, career guidance, and more. Does opting out of reporting assets on the FAFSA carry over to opting out of reporting assets to CSAC? I'm just wondering how CSAC interprets the FAFSA and if any FAFSA exceptions "override" elements of the Cal Grant process, since I don't want to disqualify myself for a Cal Grant by not having reported my assets on my FAFSA. A 2nd home, a 2nd car or any other real estate is counted in assets, (Note: Some students and parents aren’t even required to answer the questions about assets. Regarding the assets question, it asks for the current net worth of investments (ie: stocks, CDs, etc). The IRS is experiencing significant and Student assets question . Question about Parent' income tax . Open menu Open navigation Go to Reddit Home. Should I skip FAFSA parent financial & asset questions since FAFSA says not required to answer them ( since on free/reduced lunch program and parent displaced worker) even if I require institutional methodology for private college? I have read that private colleges require the answers to these skipped FAFSA questions but since these private colleges Hi, current OOS Freshman at UMich. Once you provide the fact that you aren't working, but have $6. Or check it out in the app stores I was doing my parent’s section of the FAFSA and I only two financial questions which were On the FAFSA: Student cash, business assets and real-estate investments are weighed at . Financial Aid/Scholarships Some people are saying they filled out an asset section on their student account, but some say no. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about Get the Reddit app Scan this QR code to download the app now. If your IRS data pull meets the auto-cutoff, than you likely will not even be presented with the asset questions. 64% is 56,400. This will actually make a decent difference to my EFC because all of my income is from investments. Question about Savings accounts and sinking funds Get the Reddit app Scan this QR code to download the app now. The serious side of Reddit. **While the CSS Profile and the FAFSA are both used to determine financial aid, they differ in a few ways. I know that my parents made less money in the year on the tax forms FAFSA asked for, but only by about $4000. Many schools will not count any part of your primary home (the fafsa does not) but some schools do. Thanks fafsa Reddit Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Expand user menu Open settings menu. Then she received During your application they will ask you to provide information regarding assets you or your parents have. Share fafsa must be partnered with ticketmaster because wtf is this Hi all, I am working on my FAFSA app for the 2022 - 2023 year. Debt Unfortunately, I have no option to skip the cash, savings, checking account question this year. There is a question on the student financials section that asks, "As of today, does the total amount of your current assets exceed $0. (There's only one question under financials asking for my filing status. I called both government FAFSA and my school financial aid office. Unauthorized access includes, but is not limited to: any access by an employee or agent of a commercial entity, or other third party, who is not the individual authorized user, for purposes of commercial advantage or private financial gain (regardless of whether that commercial entity Should I skip FAFSA parent financial & asset questions since FAFSA says not required to answer them ( since on free/reduced lunch program and parent displaced worker) even if I require institutional methodology for private college? I have read that private colleges require the answers to these skipped FAFSA questions but since these private colleges Question About FAFSA . Or check it out in the app stores Fafsa is based on assets and you’re asking how to hide assets. But, please use these funds to pay for school (if grants aren't covering your school bill) and don't borrow additional loans if you have $ in the bank. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. I’m wondering if I should do that or not. Every school in the US that accepts federal aid will have a net Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I have around 30k what I assume is assets, divided up FAFSA: skipping questions about assets? I'm currently filling out the FAFSA for the 2018-2019 school year and I'm at a loss deciding if I should answer questions about my own assets or On FAFSA, it gave me the option to skip providing information about my parents and my own assets due to the Simplified Needs Test. The IRS is experiencing significant and Get the Reddit app Scan this QR code to download the app now. Was wondering if anyone could clear this up for me. 2020-2021 school year: Use the 2020-2021 FAFSA, which opened October 1, 2019. We're also really low-income like my mother only makes $20k a year and UMich considers our EFC to be around 0. This is where my question comes in: Who would I put as the parent I live with, and do I have to put them both onto my FAFSA? My mom is extremely low income, but my dad makes a lot, and I am weary that I would have to go into student debt if All questions about federal student aid, the FAFSA, and financial aid verification must be posted on this thread. If your income’s low "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. but when given the option of yes/no to the question would you like to skip the following. The past year, my wife and I became independent students (we got married). A place to ask simple legal questions. However, answering these questions will not affect your eligibility for federal student aid, such as a Federal Pell Grant. Business, Economics, and Finance. ,the amount they count varies from school to school. If the money is spent before the start of next school year, you may be Just started a 529 for our kids and became aware of the 529 potentially affecting financial aid via the FAFSA. As of today, what is your total current balance of cash, savings, and checking accounts? You can choose to not report your assets. How do I answer the asset question in the asset for the parent and the asset for the student? It is not a 529 savings account and hypothetically speaking lets say $20,000 in the savings account. FAFSA Student Assets Question . There's a list of things somewhere that details what's counted as asset and what is not. Not sure what to put, does anyone have know what the exact questions are asked for the parents form? Question what do I put for parent martial status if parents are married but separated. Shipping worldwide. Or check it out in the app stores FAFSA - Free Application for Federal Student Aid Members Online • Zverda1 . 00 for both and then there were no other questions. Members Online I'm filling out my fafsa for 2021-22 and it's asking me if my current assets exceed $1500. Or check it out in the app stores FAFSA Student Section Skipped Questions . I only entered $1000 in assets I got a question about how the parent asset rule works. They state that answering those questions won’t lower your aid or effect your eligibility for those programs. Completing the FAFSA® can seem overwhelming, especially for newbies. Hello, So i know that retirement accounts don't count towards ones assets, but my parents are self employed and they decided to just save for retirement in a normal savings account. Then it asked for “Student How to answer the 2025-26 FAFSA® questions. if you got your fafsa processed and you’re scared that you’re one of the people affected let me just say low income people are probably not affected and most likely you’re fine because the only people affected are the people who have assets and investments!!! the calculation failed to account for those things ,idk what low income folk has an asset or investment so you’re fine ok View community ranking In the Top 10% of largest communities on Reddit. Reddit, known as the “front page of the internet,” is a Can I Skip FAFSA Questions About Assets? You can only skip FAFSA questions about assets if you meet the qualifications to do so based on your answers to other questions on the Skip Questions About Your Income and Assets (2023–24) This question can’t be left blank. View community ranking In the Top 10% of largest communities on Reddit. It is correct that it is asking for your 2021 tax information for the 2023-24 FAFSA. I'm here for more stupid financial questions, so bear with me. Any Assets are considered. It asks “as of today, what is your total current balance of cash, savings, and checking accounts?” I have ~$50 in my checking account but it’s bc I move my entire paycheck to either savings or to pay off credit. -- As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. Failure to report assets on the Free Application for Federal Student Aid (FAFSA) is fraud. No question on the FAFSA asks if someone claimed you as a dependent on their taxes. I've only come across two methods, which I have questions for: Depositing into a Traditional (and Roth) IRA and/or 401k This is a U. FAFSA - Free Application for Federal Student Aid As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. Not sure what to put, does anyone have know what the exact questions are asked for the parents form? However, this year the question " Does the total amount of your parents' asset net worth exceed 9,900?" came up. That’s why we’ve broken down the 2025-26 FAFSA® to In general, you don't need to report assets that you hold to the IRS, only the gains you make from selling them, because assets are not income and are not taxed at the federal level. If I skip them, will that affect my aid from NC State? I read online: Some schools may require answers to these questions to determine your eligibility for college aid. Or check it out in the app stores So I am filling out my fafsa a little late and am trying to finish it today. For more information on filling out the FAFSA, check out our step-by-step guide. This is what you agree to when you sign the FAFSA form: If you are the student, by signing this application you certify that you (1) will use federal and/or state student financial aid only to pay the cost of attending an institution of higher education, (2) are not in default on a federal student loan or have made satisfactory Student assets - fafsa 24-25 . Questions about FAFSA. So, I was asked by the FAFSA whether I should skip the assets questions or not. Seems to me your options are putting all your money into a really expensive home and selling it after they're done getting Hello, I had a question about Financial aid I wanted to ask since a lot of people here are very educated in the topics surrounding college finances. The answers Get an ad-free experience with special benefits, and directly support Reddit. I am wondering how they determined that specific amount to ask about, why they are asking this question, and if this is a question that everyone is receiving on this year's application? Any insight highly appreciated. She put all of this on the Fafsa since it asked if we got it between the years 2022-2023. For our children (their FAFSA actually, dependents so they use our info as well), they made sure to pay their six month car insurance, etc. before the filing date. Without the exemption, it will ask you give your current account balances. You sign the FAFSA under penalty of perjury. Dependency status and parent of record are completely separate from dependents claimed on a tax return. A 2nd home, a 2nd car or any other real estate is counted in assets, but less any outstanding unpaid loans on those properties. FAFSA join leave 25,547 readers. Posted by u/vlanman - 5 votes and 3 comments In general, you don't need to report assets that you hold to the IRS, only the gains you make from selling them, because assets are not income and are not taxed at the federal level. I was wondering if I can subtract the amount I expect to pay for 2020 taxes from my assets when the FAFSA asks for student assets. Thank you However, the ONLY questions were 1. Reply reply more reply More replies More Posted by u/sentimentalfeelings - 4 votes and 1 comment The main residence of contributors and/or student is exempt from reporting as an asset on the FAFSA. This is to say that the first $1,800 in student assets doesn't have any impact on your financial If your money is in a savings account, that's not something you have to disclose on FAFSA since it's not asked about until the assets portion (I think) which you don't have to complete. And one of them is the question about the total assets in savings accounts etc, so I can’t imagine that this is correct. Do not include any amount that was financial aid (especially loans). While the info pulled from my tax return wasn't visible (which was a majority of my income info, the student's FAFSA form walks My parent makes very little and I was asked this on the FAFSA right after inputting my income: Do you want to skip the remaining questions about your and your parents’ income Yes, as it is based on a formula that includes your income (which your draw from retirement accounts is), assets (non-retirement accounts) dependents and number of family in college. Oh ok. The CSS Profile asks questions based on the specific schools you’re applying to, while the FAFSA questions are the same for everyone. Do I have to report the Get the Reddit app Scan this QR code to download the app now. The only "asset" I own is my car because my parents gifted it to me year ago. It has 3 questions: All questions about federal student aid, the FAFSA, and financial aid verification must be posted on this thread. Or check it out in the app stores Question about FAFSA 2024-2025 FAFSA - Free Application for Federal Student Yes, the expectation is that 12% of your parents’ assets will be put towards your education (for the 2023-2024 aid year). Crypto FAFSA/CSS Profile Assets . She makes 15k a year at her internship and my internship is unpaid (and we have no income/support from family) so we qualified for Pell and state grants on top of our scholarships and loans. Some states asks questions about assets even if the EFC is $0. Student asset on FAFSA . So, I'm trying to file FAFSA, and this question came up. Next years FASFA will recompute everything, but if nothing much is changed will assume another 56k. the largest community on reddit discussing education and Federal Student Aid Loading Posted by u/iKhantstop - 2 votes and 2 comments Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. FAFSA Question upvote The FAFSA asks that you put down the amount of assets you have on the day of signing so I was going to correct it. I recently submitted my FAFSA form and got an SAI of 6032. Or check it out in the app stores Question about Student assets . I began my FAFSA section (student) The sister sub of r/CasualConversation. How does this affect how much aid I get? Get the Reddit app Scan this QR code to download the app now. I have been depositing all my FAFSA refunds into my savings account from 2 different universities since 2019 (I transferred), when I guess I probably should've been putting "school money" in a separate account. My dad is retired and he receives a monthly pension from multiple sources. This is a U. Hey all, I was finishing up my FAFSA app when I got to this question. So the question is, do they need to use the correct terminology "professional judgement" in order to really be considered? Or 2022 income/IRS data told FAFSA you deserve exemption from reporting assets and to skip all asset info questions for you. Or, it is just a I have been depositing all my FAFSA refunds into my savings account from 2 different universities since 2019 (I transferred), when I guess I probably should've been putting "school money" in a separate account. So my parents filed a 1040 and to find their income tax FAFSA says that it is "Form 1040-line13 minus Schedule 2-line 46". This means that they are subject to a progressive In order for me to sign my fafsa, I need my dad social security number. All standalone posts on these topics will be removed. For some reason I am getting a prompt that says "Do you want We are worried if we skip them we will be required to answer further questions about this after submit and it will delay everything. If you’re given the option to skip questions, keep in mind that doing so won’t affect your eligibility for federal student aid. Or check it out in the app stores Questions about the FAFSA and eligibility GENERAL FAFSA Answer to both questions is generally no, some states like CA have aid for undocumented students but you need to be a resident. 64% of parent assets, but is that very year or for the full 4 years? Say parent asset is 1,000,000. My dad and I did the FAFSA like a month ago and are gonna do the CSS Profile tomorrow. In your own example, you said your dad claimed you as a dependent even though he didn’t provide any financial support. All of the money in the . It has 3 questions: View community ranking In the Top 5% of largest communities on Reddit. Applicants online may be able to skip asset questions if the student qualifies for a maximum Federal Pell Grant; Grad plus loans are based on your credit rating, not sure how assets affect that (if at all). You should accept every grant and scholarship offered (obviously) but only take loans if absolutely necessary. ) When I review though, my old value for assets is still there but in gray and I cannot edit it. " That means if you answer a certain way on one question it will skip the questions you don't need to answer. FAFSA Total assets and Need-Based aid . Before I used to answer with separated parents and list the one parent. Here’s a guide for how to correctly fill in 2025-26 FAFSA® questions about your financial assets and any child support you may have received. Thank you. Parent cash, business assets and real-estate investments Get the Reddit app Scan this QR code to download the app now. Failing to report the money is still fraud, since you will be making a false statement on the FAFSA in response to the question about the "total current balance of cash, savings and So this is a new question on the Fafsa my mom encountered. In regards to the assets question on FAFSA - “do you and your spouses assets exceed $$$$?” Do I need to report the $1000 from the plasma donations? If so, that amount puts me beyond the asset limit. Does this mean I should answer no to this question, or does the car loan not count? I need help on this problem. My mom has been getting SSI(my lil sister’s disability), Medicaid, and near the end of 2023(November) she qualified for an EBT card. My parents took a 6 digit loan to renovate our house, but the problem is FAFSA wants to include as a asset. Offer a theory, share an opinion, or pose a question about Student assets question. I make too much money for SNAP right now, so I’m not eligible at the minute, but I was for a while during 2019 & 2020. Only 20% of it i. It's a bit harder to give an exact percentage on Some low-income students/families are exempt from reporting assets on FAFSA, but most are not. I realized I wasn’t asked about my assets at all. Other only 16000 for a student? that sounds pretty good skip the asset questions if you have a $0 EFC. Applicants online may be Student assets - fafsa 24-25 . They are optional not required. Reddit . You are right, not supposed to say Yes for the free-reduced-lunch question if the entire school district/county (community-eligibility) had it in 2022/2023. Their income was very low r/FAFSA: FAFSA - Free Application for Federal Student Aid . Then it asked for “Student Assets” I don’t have a bank account or anything at all, so is it fine if I just put 0? They also didn’t ask for my parents’ tax return. 5k in savings, Based on your answers to certain questions on the Free Application for Federal Student Aid (FAFSA ®) form, you may be given the option to skip additional questions about your income Get the Reddit app Scan this QR code to download the app now The FAFSA application did not ask about assets, etc it does. So this is a new question on the Fafsa my mom encountered. the "fafsa" gave me an option and i Hello, I'm hoping this is a common glitch that people have already asked about, but I've been doing the FAFSA form online. I am a dependent with a joint savings account with my parent. How does this affect how much aid I get? Hello Reddit, I will be attending a graduate school in the fall and am in the process of completing my FAFSA. r/ApplyingToCollege is the premier forum for college admissions questions, advice, and discussions, from college essays and scholarships to SAT/ACT test prep, career guidance, and more. My sister (25) and me (21) support the household because my dad passed away 14 years ago. However, If AGI is less than 175% then it gives an automatic SAI = 0, gives automatic exemption from asset reporting, and thereby asks no asset questions but simply grays out relevant asset questions I did our daughter FAFSA. FAFSA - Free Application for Federal Student Aid I didn’t even get prompted to answer the grayed out questions. "About the first $10,000 will fall under the Asset Protection Allowance. Question what do I put for parent martial status if parents are married but separated. Since getting grants from the FAFSA in Texas for a few years, it always has a question that says: "Do you want to skip questions about your assets?" 9. You’ll get a pass if you are below the income threshold for the year and file certain types of tax This is not necessarily true. Federal Government owned computer system, for the use by authorized users only. Yes, you can skip it. Advice/Help Needed For the total cash in account question, it says not to include student financial aid and Im assuming that means the refunds I've received but the And yes, the FAFSA is based upon you and your parents’ income from the prior-prior year tax return but their CURRENT assets (as of the date you file the FAFSA). This is just for assets, income will be assest in addition to that. and [Type] of property tags are required in Assets are considered. A few questions I had regarding maximizing graduate school financial aid: I noticed consumer debt is not considered in the financial aid application, while The FAFSA has always required you to use the parent you lived with (primarily) and provided you the most support. Asking if structuring The FAFSA methodology protects a portion of student assets—currently, $1,800. Advice Hello, I know this is the Student Loans Reddit but I had a question about Financial aid I wanted to ask since a lot of people here are very educated in the topics surrounding college finances. Based on your answers to certain questions on the Free Application for Federal Student Aid (FAFSA I work in CA and can confirm that skipping the asset questions will not negatively affect you eligibility for the state financial aid programs. I'm filling out my fafsa for 2021-22 and it's asking me if my current assets exceed $1500. e $1k counts as available student asset, but student's available income has $9k allowance so, $1k makes no difference unless you also had more than 8k income of your own 1040 in 2022. How badly will about $5200 in assets screw up my EFC/grant aid? I didn't realize I needed to report this til my school just reached out to me about it. My mother only has $2,000 in her checking/savings accounts, while I have $300 in my checking/savings accounts. I don't know if Cal Grant has a different application or if it uses the data from the FAFSA. I'm filing a FAFSA form for the aid year 22-23 (used tax return of 2020) and there're questions about my assets including checking account current balance and total asset current value, they don't allow me to opt out of those questions (must answer the amount). Either that or someone in Family had received one or more I believe that students assets are always counted, and I know that student assets affect you much more than your parents assets. if I skip asset information for parent’s, the student financial section won’t populate. This doesn't make sense to me since this money is temporary and need to be paid back in installments until the end of this year. The second big change is one that mystifies me, but it seems to exist nonetheless. Hi, I am a dependent student and haven't filed taxes for 2020 yet. " FAFSA-Skipping question about personal assets. Unauthorized access includes, but is not limited to: any access by an employee or agent of a commercial entity, or other third party, who is not the individual authorized user, for purposes of commercial advantage or private financial gain (regardless of whether that commercial entity My question is, how much of my income / assets will be calculated into the FAFSA? In my bank account and investment account (that I started a while back) I would estimate that by the time I apply for the FAFSA this fall I will have around $10,000-20,000 in both bank accounts and investment account but that is slowly going down as I do not work Unfortunately, I have no option to skip the cash, savings, checking account question this year. I am filing the FAFSA form and would like to know where to find “skip the student’s asset questions”? I remember there was this choice in the form in Sorry for a long post and I do appreciate your help with my questions. Based on your answers to certain questions on the Free Application for Federal Student Aid (FAFSA ®) form, you may be given the option to skip additional questions about your income and assets. 20 of full value within the EFC equation. All 529s held by dependent students and parents are treated as normal parent assets by FAFSA. Hi, I’m was doing FAFSA by myself as a student, it asked if I, the student, filed a tax return and I clicked no, because I’m a dependent of my parents’ tax return. Or check it out in the app stores FAFSA - Free Application for Federal Student Aid So I’m currently filing out my fasfa and I am stuck on the parents assets questions. I answered $0. By skipping that question the only likely change in aid is making institutional aid less likely. I was wondering if my FAFSA For context I am an independent student who meets the requirements according to FAFSA. The form is asking to find the net worth by deducting debts owed against them, but I don't have any regarding them. If you have your fafsa done your estimated cost of attendance should be listed. You have to report the asset amount as of the day you file your financial aid applicationunless you have spent the money or given it away. As mentioned FAFSA only considers a percentage of that number, but it's reasonable to do what you can to reduce that number legally, then let what happens happen. So if you could Has anyone skipped these FAFSA questions and had any issues with private colleges that require CSS profile too? Yes you should skip. The question says, "Do you want to skip questions about your parents’ assets?" And clicking the In this article, we will explore some of the common questions and discussions on Reddit regarding skipping FAFSA questions about assets. IRA's, retirement accounts do not. This has nothing to do with their tax Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. FAFSA Question upvote Get the Reddit app Scan this QR code to download the app now. However, the first year For FAFSA sake, I am considered an independent adult student however My mom and I have a joint bank account for personal reasons that aren't relevant here. However, I filled out the assets information anyways Certain FAFSA questions determine whether a student is eligible for an exemption from asset reporting. The IRS is experiencing significant and extended delays in processing - everything. That’s why FAFSA is getting rid of it next year I also think your family has assets that they are considering. Car you drive is excluded even if it's values a billion. If you want money for college, you should submit a FAFSA if you are eligible to do so. Thread starter donkeykong1; Start date Apr 7, yup it wouldn't have made a difference either way. For FAFSA, my dad just logged into our brokerage accounts to get the numbers for parent assets, and I assume he'll do the same for CSS. I am moving from Texas to Oklahoma. However, assets do factor into the calculation of your federal student aid, which is why they must be reported on your FAFSA. The IRS is experiencing significant and Yes, if you fall below the AGI/FPL line, then the new FAFSA will allow you to skip all asset questions and still automatically get maximum aid. I'm applying for the 2015-2016 FAFSA at the moment, and the strangest thing is happening. nothing about assets or my current job/income nothing! Is there a glitch? Usually FAFSA takes almost 5 hours this took less than 5 minutes! I recently submitted my FAFSA form and got an SAI of 6032. If you have x amount of money in assets and your mom has the same x amount of money in assets, yours will be counted more heavily against you (giving you less financial aid). Get app Get the Reddit app Log In Log in to Reddit. A certain amount of those accounts is excluded by default (which depends from situation to situation), then anything beyond that protected amount will be included in your SAI I'm getting ready to fill out the 2018/2019 FAFSA and have a question. Some students qualify for a “simpler” FAFSA I am faced with this question for both me and my parents: “Do you want to skip questions about your assets?” And I think this is mostly because I answered Yes to the You can only skip these questions if the form determines you can based on a variety of factors. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. They have personal bank accounts adding up to $8,500 Yes -- both income and assets are part of the FAFSA and the CSS profile, which schools used to determine your financial need. I have an option to skip questions about my assets. "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. If the money is spent before the start of next school year, you may be able to do a Professional Judgement with your school to remove this figure, but that will be at the discretion of your schools Financial Aid Professionals. Share fafsa must be partnered with ticketmaster because wtf is this On the FAFSA: Student cash, business assets and real-estate investments are weighed at . Members Online • aegyokook. Don't post questions related to that here, please. She worked for a bit but didn’t make enough to file for taxes. scholarships to SAT/ACT test prep, career guidance, and more. I guess in the past they let me skip these questions. and International, Federal, State, or local. It did not ask for any income when I did the parent portion and my husband her dad never received his email to answer his parent questions. 2019-2020 school year: Use the 2019-2020 FAFSA, which opened October 1, 2018. But the stock market (and by extension the value of our assets) would have changed in between. However, when I went back today, it no longer asks for my assets. 00?" I clicked the little question mark symbol next to this question, and according to the pop-up, FAFSA defines "assets" to include: Skip to main content. Thank you Get the Reddit app Scan this QR code to download the app now. I finally got to the student asset part before I got kicked out, idk if it wants me to combine both saving and checking together or just put one? Locked post. The reason she doesn’t work is because she suffered an accident at work that has caused her lots of problems. As the other commenter mentioned, you may be able to receive some sort of guidance Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. They paid for things like car deposit, down payment for home and things like that back when I had no money. get reddit premium. FAFSA - Free Application for Federal Thank you! I've applied to a bunch of schools which require parental info on the FAFSA, even though the form itself does not. I want to answer this question, but I've lost track of how much money I've received in refunds that have been in my savings account. Every time I filled out my FAFSA I skipped the asset questions I need help on this problem. While I do have more than that amount in my joint account shared with my husband, we do also have a financed car loan through our bank for somewhere around $20k. Or check it out in the app stores Question about FAFSA 2024-2025 FAFSA - Free Application for Federal Student Aid Members Online. Requires 2018 tax information. r/SeriousConversation is a subreddit for in-depth discussion. For the question “what is Get the Reddit app Scan this QR code to download the app now. So I'm doing my FAFSA right now and one of the questions it asked me was whether I wanted to skip questions about my assets. This is to say that the first $1,800 in student assets doesn't have any impact on your financial Get the Reddit app Scan this QR code to download the app now. Our goal is to help Redditors get answers to questions about Fidelity products and services, money I’m applying for FAFSA and I’m on the asset question. It leaves very little room for the student to confuse which parent should be listed. If you're under 175% FPL of AGI on the new FAFSA, that's pretty much it, you are automatic -1500 SAI which qualifies you for max federal aid (including pell grant) without asking any questions about assets or nontaxable sources of income/gifts, parental or student. Can I skip this question? No, but you An application can be complete and correct without asset info if asset info is not part of the EFC calculation. Unfortunately, I guess for you, this part of the new FAFSA was really improved. I already have Bachelor’s degree (so I understand I might not get anything, just thought I’d give it a shot) and the question of “do you want to skip questions about your assets?” came up. Get app Get the Reddit app (even if your household/number in college is 1/1) you will qualify for a 0 EFC. FAFSA uses "prior prior year" tax information. Advice/Help Needed I am filing as an independent student for FAFSA. So my parents filed a 1040 and to find their income tax FAFSA says that it is Get the Reddit app Scan this QR code to download the app now. You will have the option to skip your asset information since you don't have any assets (it will give you this option based on your AGI or your income earned from work). Does this mean I should answer no to this question, or does the car loan not count? r/ApplyingToCollege is the premier forum for college admissions questions, advice, and discussions, from college essays and scholarships to college list help and application advice, career guidance, and more. 12. Yes, skip. So I have $15k in savings in one bank, and about $2,900 in another in both checking and savings combined. 64% of the asset's value. Do you compare 56,400 to 40,000 or Skipping assets question hey everyone! i’m currently 25 and in California and I’m applying for FAFSA to go to a community college. If you have x amount of money in assets and your mom has $15k in cash gifts from age 10-17, stockpiled up for them in a way where it won't be scrutinized much on the FAFSA, and then they suddenly "don't support" the kid financially when FAFSA I can help you with 3 and 4. 30 users here now. FAFSA - Free Application for Federal Student Aid. I also dont have to provide any information on my finances. I am trying to fill out the fafsa form but my mom didn’t do taxes last year. I believe that students assets are always counted, and I know that student assets affect you much more than your parents assets. Yes, the expectation is that 12% of your parents’ assets will be put towards your education (for the 2023-2024 aid year). r/ApplyingToCollege is the premier forum for college admissions questions, advice Just started a 529 for our kids and became aware of the 529 potentially affecting financial aid via the FAFSA. r/ApplyingToCollege is the premier forum for college admissions questions, advice, and discussions, from college essays and scholarships to Go back and check you Student Aid Report (on main FAFSA website) and make sure that that info was entered. Based on your family's income levels, the assets questions are optional. The feeling is really mutual So I’m currently on the part where it says to input ur parents total current balance of assets and I was talking to someone else bc I was stuck on Get the Reddit app Scan this QR code to download the app now And one more question, the current total of cash, savings, and checking accounts on the Student's Assets question, is this questions is mostly about like self-reporting my own assets or do I have to be honest with this questions, if so, do the government will know how much do I Yes, correct. Did you guys skip it or should I fill it out Locked post. I wasn’t asked about my taxes either, but it’s probably because I gave permission for the info to be pulled. Or check it out in the app stores Question regarding assets . I know it's 5. He wants me to file as an independent (even though I don’t even pay my damn phone bill) so I Based on your answers to certain questions on the Free Application for Federal Student Aid (FAFSA ®) form, you may be given the option to skip additional questions about your income The FAFSA methodology protects a portion of student assets—currently, $1,800. New comments cannot be posted. Any parental assets beyond that amount will reduce a student's aid package by up to a maximum of 5. But now it just says are they married yes or no, so I paused finishing the form. ^Yes you should skip the financial questions. I've tried finding it but there is no line 46. I got to the Student Financials section, and one of the questions is asking me Student Assets:"Do you want to skip questions about your Assets?" The FAFSA uses "Skip Logic. If it uses FAFSA data, you should be OK. Parent cash, business assets and real-estate investments are weighed at . Or check it out in the app stores so I was filling out the FAFSA form, and it told me based on my previous answers I could skip the assets section. It's easier and usually is to your benefit Home you live in is excluded from assets. reReddit: Top posts of February 17, 2021. Is that allowed/legal? fafsa must be partnered with ticketmaster because wtf is this Get the Reddit app Scan this QR code to download the app now. I didn’t have to put in asset information because of my income being low enough. Or check it out in the app stores TOPICS Do we need to report that as student assets on the application? Locked post. The FAFSA EFC formula document describes this and the web site even explains why these questions are optional and when they become not optional: When filling out the FAFSA, it asks if I want to skip the student's asset questions. our community is the best way to get help on Reddit FAFSA - Free Application for Federal Student Aid Intent of that explicit hint above that field is perhaps to allow the students to exclude, from assets, any educational aid (grants, scholarships, loans) that they may have received (based on prior year FAFSAs, or otherwise). That seems a lot (The numbers are fictional but closely resemble reality) I am filing FAFSA Q85, which asks for the total amount of my parents' assets. So the school/state did cover the rest, including room and board. It doesn't matter whether you keep the money in a safety deposit box or stuffed under your mattress. If this student removes the How to answer FAFSA® questions about student assets. I am a much older student and will be I went to a state school on FAFSA, and had 16k of subsidized loans at the end of a 4-5 year degree. r/personalfinance A chip A close button. Is it normal for the FAFSA to ask if I want to skip questions about my assets (I'm the student) and some questions about my father's finances? His working income was pretty low, but he had some untaxed income from worker's comp, yet it says he doesn't need to answer questions about that. , even if it's valued a billion. It is not "lying by omission" to skip a question that is not required. Or check it out in the app stores Questions on Reducing AGI and Sheltering Assets (for FAFSA) Other Hi, (2023) $15k in cash gifts from age 10-17, stockpiled up for them in a way where it won't be scrutinized much on the FAFSA, and then they suddenly "don't support" the kid financially when FAFSA Yes, correct. ---I have no experience with Cal Grant. Or check it out in the app stores Questions on Reducing AGI and Sheltering Assets (for FAFSA) Other Hi, (2023) AGI for the next-next school year. Skip to main content. Cornell is one of those. I've filled out my FAFSA and parental information (I only have one parent who makes less than 10k and hasn't claimed me in over eight years), but my total asset amount is around 40k that I had to report to FAFSA. Members Online. Hoever, If income levels in 2022 makes you otherwise really eligible for it, then you can leave that answer as Yes, and the savings & assets questions can stay skipped (grayed out). I just want to report accurate information and any help is appreciated. I don’t know the specifics but a friend was worried her son’s full ride to Stanford might be jeopardized because they owned properties. We put in the actual amount on the checkings and savings question as every google search regarding it said to do, however people are now telling me that I should have put 0. if I reported income for grants/scholarships 2. Crypto FAFSA takes into account your family assets besides your home. as for if it will affect the kind of financial aid you could get FAFSA - Free Application for Federal Student Aid Intent of that explicit hint above that field is perhaps to allow the students to exclude, from assets, any educational aid (grants, For the new FAFSA, it’s asking “Has the parent you identified in the previous question remarried?” Should I answer yes or no, because she has remarried but she was single income for the Exempt From Asset Reporting (2024–25) Certain FAFSA questions determine whether a student is eligible for an exemption from asset reporting. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Note: If You aren’t able to receive a “bypass” from the Fafsa if your parents are refusing to report their assets. Full income info will still be collected because the new FAFSA regs allow for a final SAI down to -$1,500 if your income details merit it. Not all FIRE folks, but if you are either lean enough, or can manage your AGI enough. My EFC in my first year of college was 15187, and I was never eligible for a Pell grant. I owe my parents some money. Their income was very low Home you live in is excluded from assets. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. about your personal assets, i'd much rather stick with skipping it. But, please use these funds to pay for school (if grants aren't covering your school bill) and don't borrow The form isn't asking you to skip the questions either, it's giving you the option to skip them if you wish. He refuses to give it to me. If you're international some schools offer packages for if all else fails, try using the FAFSA phone app Official Subreddit for the community of KBDfans. 5K subscribers in the FAFSA community. Assume college costs 40,000. Student assets question . Do you want to skip the remaining questions about your and your parents’ income and assets? Those questions often increase your EFC and decrease you aid. if i earned any foreign income. I rent so I dont have a house, business, etc. I was in community college the entire year of 2022 and 2023 (community college) so I did not make I just (yesterday) helped my son complete his FAFSA. How much of an impact this has on the outcome, I can't View community ranking In the Top 10% of largest communities on Reddit. I saved up ~5k so that I can pay my car and health insurance/food/gas for 2021-2022 Would 5k affect my financial aid? Or Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. pqvalykvrzdfvacvdoubqbzdjpwdbzxhiumwhshprtulqyilkqybtofjqj