@BelknapPoint Yes. But the way I read your post it sounded like all money in the student’s possession should be reported on the day FAFSA is filed, regardless of source.
@BelknapPoint I also interpreted the post like @mommdc. To clarify, I report my assets on that day minus the financial aid then?
Which brings me back to my original question of whether financial aid gets reported this time around. If I do not list financial aid in the assets box, there is nowhere else to list it, if I remember correctly. The only other related box that I can recall asks for financial aid from 2015, in which I received none.
I will definitely report excess financial aid when I file taxes next year, but that means this would all end up on next year’s FAFSA.
Student financial aid money is NOT reported as an asset for financial aid purposes.
@thumper1 So any financial aid I received in excess this year will not be reported until I file taxes next year and report them on the 2017 FAFSA?
You’re going around in circles. Take a look at the FAFSA: https://fafsa.ed.gov/fotw1617/pdf/PdfFafsa16-17.pdf
If you aren’t clear about specific FAFSA questions, what or how to report, then please refer to the FAFSA question and it will be easier to assist you.
Agree with @BelknapPoint
Just read the directions when you do,your FAFSA. I always felt it was very clear what to put…and where to get the info from.
When you file your 2017/18 FAFSA if you had no income in 2015 and filed no tax return, your income would be $0.
Then in question 41 where it asks for your balance in savings or checking accounts, investments, etc, you would put what money you own, but not include your $1000 financial aid refund.
At least that is my understanding.