FAFSA Asset?

[4kidsdad]

<p>

@Ask Kantro

Insurance proceeds count as income on the FAFSA in the year received. They also count as assets. After you submit the FAFSA you should ask the college for a professional judgment review. Most colleges will adjust the FAFSA to stop the insurance proceeds from being counted as untaxed income, but will retain it as an asset. After all, life insurance proceeds are a one-time event that is not reflective of income during the award year.

You should not lose your merit based scholarship.</p>