<p>question for my mom - let's say our family's checking account runs an average balance of $5K but if you take away all outstanding checks the balance would be $1K (really zero!). What should we put for our checking account balance? It isn't like we really have $5K but a credit report would show more like that amount if it was verified.</p>
<p>The balance you put in is what your checkbook shows - after you have deducted any checks written.</p>
<p>estimate low. It is an estimate. Obviously the balance varies by the day of the month...</p>
<p>We generally go by the check register amount, we also keep a copy of the latest statement and a copy of the check register, in case any one ever asks. There is no problem with paying all the bills you can BEFORE you file the FAFSA to minimize the balance.</p>
<p>ebee- I do not think it is supposed to be an estimate, I think it is supposed to be the actual balance on that day.</p>
<p>We put the amount that was in the account the day we started the form (luckily, low due to having just paid the mortgage and other bills - LOL!).</p>
<p>If it is supposed to be the actual balance on that day then pick the day after you pay your mortgage.</p>