<p>No - not for FAFSA. Certain assets do not have to be reported - Primary home, retirement accounts (IRAs, 401ks etc).</p>
<p>Unfortunately having money saved and earmarked for certain things does not protect them - for instance if the $74K was already invested in a house (primary home only) it would not have to be reported. As it is in CDs it does have to be reported even if the plan is for it to be used to purchase a home. </p>
<p>You sound as if you are maybe a little confused on some of the FAFSA questions. This site gives detailed explanations question by question of what has to be reported.</p>
<p>[Completing</a> the FAFSA 08-09/The Application Questions(1-31)](<a href=“http://www.studentaid.ed.gov/students/publications/completing_fafsa/2008_2009/ques.html]Completing”>http://www.studentaid.ed.gov/students/publications/completing_fafsa/2008_2009/ques.html)</p>