FAFSA and assets owned jointly by student and parent

Paying for College
1

<p>If student has savings in his name, would moving it to a jointly owned (with parent) checking account make that $ a parent asset for FAFSA?</p>

2

<p>It depends on whose SSN is on the account. If it is joint (both SSN), the the assets are split 50/50.</p>

3

<p>In this case the both SSNs are on the account, but the 1099 can only go to one SSN, right now it is the student’s would that effect aid? If so it could be changed to both SSNs on the account but 1099 to parent.</p>