CSS Help!! 2 Bank Accounts

Paying for College
1

I’m an international applicant from Pakistan. My father has a small business. He has 2 bank accounts, one savings, and one current business account. For a long time, he hasn’t transferred his profits from business to his savings account, and so there’s more savings in his business account than his current account. I’ve stated that my parents can pay roughly 22000 USD. But, the ability to pay this will only be reflected if the savings in both accounts are added up. So, should my dad transfer money from his business account to his savings account? In the bank statement, will the fact that a large sum of money is suddenly added into the savings account raise suspicions of any sort?

Also, in the question how much parents can pay, 22000 USD is a sum my parents are BARELY able to pay. Do colleges usually ask the applicant to pay more than what they’ve stated, in which case, should I reduce the amount? Please help, I’d really appreciate it.

2

Your parents need to report all their assets as requested by most US colleges. If the business assets are also requested, he had to report ALL of them – he would just report both accounts, he would not need to actually move the money.

Colleges determine how much they think you should pay based on income and assets. While they ask how much you can pay, it isn’t really considered in their calculation. I assume that you are aware that:

  • Most US colleges do not "meet need". They will leave a gap between the aid they offer and what your family can really pay.
  • Need based aid is often lower for international students, or the expectations for admissions qualifications for international students is higher than for US students.
3

Thanks for replying! And just to confirm, the money he has in his business account will be mentioned in the investments part, right?