<p>So, I've been trying to fill out this profile for financial aid, but I'm running into some trouble because I get confused by some of the questions. Like when it asks ,"Enter the amount your parents have in their cash, savings, and checking accounts as of today." Does this include CD accounts and money market accounts? Because when I was filling that out in my college's financial aid calculator it said to exclude those type of accounts. Also, if my family has multiple bank accounts for different banks, do I need to add all those together or just use our main bank account? Thanks!</p>
<p>Money in CD’s and money market accounts may be captured under the category of investments (check the definition), but it won’t really matter where you put them, so long as you list them as assets somewhere. And yes, of course you have to add all bank accounts.</p>
<p>All bank accounts must be included. All CD and money market accounts must also be included someplace…either as savings or as investments. </p>
<p>If the money is there…you MUST include it!</p>
<p>A lot of times the question is more where to put down the account or asset. Yes, they all have to be listed for PROFILE, pretty much, Ask about exceptions which may be some insurance products, trusts, but it’s rare to get to exclude anything. It can be important where to list the item. Qualified plan assets (IRAs, HSAs, 401K) have their own category, and you want to make sure those accounts are listed there, because most schools, most of the time won’t include such assets. Put them in the wrong place as ordinary assets and you get dinged for sure.</p>