<p>I'm kind of confused on the farm/business portion. I know it says something about if there's a 100 workers or less you don't have to give any info, but is that only for a business or does that include a farm? my dad and my uncle have a small ranch that they use for profit, but have less than 100 workers so I'm wondering if I have to include that in my FAFSA. So.. basically.. does the 100 workers or less only mean for a business or is it also for a farm?!</p>
<p>does anyone know?</p>
<p>Sorry, I don't know the answer to your question, but I suggest you search for posts by curmudgeon about his ranch and its treatment for financial aid purposes. His comments might apply only to CSS Profile, but they'll perhaps help you with your question if nobody else answers.</p>
<p>^^^ditto, send a PM to curmudgen.</p>
<p>On the small business thing, there was a link earlier saying that your family has to OWN & Control at least 51%- 50-50 means reporting the value. It also said that a farm ON WHICH YOU LIVE is not counted.</p>
<p>You might search for that link in earlier postings</p>
<p>ok thanx. we don't live on our farm, but my dad and uncle are mainly in charge of it. however, my mom, aunt, and grandpa are on the actually ownership papers as owners too. they just don't really do anything.</p>
<p>Your Dad needs to OWN 51% to exclude the value, otherwise you have to show his percentage of the net sales value of the farm</p>
<p>wait.. so he needs to HAVE 51% to not have to report it?! that's kinda wierd.. well.. since it's split in 5.. he has 20%, but him and my mom file together so that's 40% and my grandpa lives with us and they classify him as one of their dependents so i guess we could classify his part as ours if we have to.. so that would be 60%, but it seems kinda wierd that we need that much in order to exclude it. i don't know.. i don't wanna get screwed up so i think i might just write it in.. it's not that much money.. i guess..</p>
<p>We have a working farm, though it's not our legal residence. It does seem unfair to report this as an asset when people with businesses with 99 employees don't have to report those assets! Also, the farm is our substitute for a "retirement account." We've pumped money into it all these years, hoping to see a long-term return. If we'd been investing in a retirement fund, it would be excluded from assets. Farmland is most certainly not a liquid asset, but you can borrow against it.</p>
<p>But I say, go ahead and report the amount your parents' would net if they sold their share. For us, the farm is our most important investment. It's the choice we made and I'll stand by it. </p>
<p>In our case, our income and our child's own assets seem to have had the most effect on the EFC.</p>