FAFSA Parent assests-

Paying for College
1

<p>It just asks if parents have over $41,300 in assets, so if we only have our home and hubby's 401K and under $41,300 in the bank, we check no? We have none of the other "assets". We do have about $60,000 in our home assets- Value- home mortgage balance.</p>

<p>Asset net worth means current value of the assets minus what is owed on those assets.</p>

<p>Assets include:</p>

<pre><code>Money in cash, savings, and checking accounts
Businesses
Investment farms
Other investments, such as real estate (other than the home your parents live in), UGMA and UTMA accounts for which your parents are the owner, stocks, bonds, certificates of deposit, etc.
</code></pre>

<p>Assets do not include:</p>

<pre><code>The home your parents live in
UGMA and UTMA accounts for which your parents are the custodian, but not the owner
The value of life insurance
Retirement plans (401[k] plans, pension funds, annuities, non-education IRAs, Keogh plans, etc.)
</code></pre>

2

<p>Right — just check “no.” The amount listed is your protected asset amount. Anything under that amount is ignored, so last year the FAFSA moved to a skip logic that asks yes or no on the asset threshold amount. If you don’t have more, you just say no … if you say yes, you would be prompted to enter an amount.</p>