<p>I've invested quite a bit in the market over time. Does fafsa look into what you have invested in the market?</p>
<p>Yes, and realized gains can be a double whammy as the gains are hit as earnings and the assets sitting at the end of the year are hit as assets.</p>
<p>If the investments are in a qualified retirement plan you don't include them on the FAFSA.</p>
<p>Should I take my money out before applying for fasfa?</p>
<p>Just to clarify on the FAFSA when they ask for father's salary and mother's salary does that include 401K and Keough plans in the amount?</p>
<p>You should use your income as reported on your W2 and entered on your IRS1040. If you have tax deferred income your income will already be reduced. I would recommend buying TaxCut or TurboTax and plugging in the numbers from your last paystub if you don't have a W2. I found it to be very helpful.</p>
<p>too late to withdraw $. Besides if you did where would you put the money-where ever you put it, you would have to report the new asset.
Again, if those people who need to complete FAFSA (practically everyone), they should begin the FAFSA project two years before the formal application-no one listens.</p>
<p>BTW-Congradualations on having $$. Better to have the $$ than to go out and beg for it. Even if you have enough $$ to go the school of choice, You can still qualify for unsubsidized staffords and PLUS loans at very attactive conditions that can't be beat and which most people will be unable to get.</p>
<p>"...which most people will be unable to get." </p>
<p>I mean, not get, at the most attractive terms. Becareful, loans can be detrimental to your future. Be absolutely sure about your current situation, future expectations, and changes in the various programs. Current government guaranteed loans are variable unless consolidated.</p>