<p>1) What are considered assets? We own a house and 4 cars; would these all be considered assets?</p>
<p>2) I am dependent and make about $9,000 a year; parents together make about $100,000 a year, as a family of 4 (younger brother makes about $9,000 a year as well and is in college). Question is how much can I expect?</p>
<p>For FAFSA your neither your house nor your cars are considered assets. Assets are things like bank accounts and investments.</p>
<p>As a dependent you have a little over $3000 income protection. Over that 50% of your income goes to the EFC. With $100,000 in parent income your EFC will be quite high. However if you and you brother are in college at the same time the parent part will be divided between the two of you (for instance if it were 25000 then it would be 12,500 for each of you.) The student part of the EFC is based on that students income/assets. Difficult for anyone here to say what it would be not knowing your assets etc. finaid.org has a fairly accurate EFC calculator - enter your financial information.</p>
<p>FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid</p>
<p>Don't your parents know your EFC from your brother who's already in college??</p>
<p>Read the FAFSA specifics very carefully, they specify what is an asset to be included in each section- they enumerate which are considered "cash" (bank accounts) and which are assets (mutual funds,etc)- you can tell right there that your primary residence and cars do not count on FAFSA</p>
<p>does cash count differently than other assets? thanks--just wondering</p>
<p>No. It is listed separately on FAFSA - don't know why as it appears to be treated the same in the formula.</p>