On FAFSA, it asks if parents have assets over $21,300. But I read somewhere that there’s asset protection of $43,100.
What’s the significance of the first question if assets up to $43.1k are protected?
The asset protection allowance is much lower this year than in the past. It hasn’t been in the $40,000 range since my kid applied to college in 2003.
^The asset protection has been lowered over the years. See http://www.forbes.com/sites/troyonink/2015/08/10/dept-of-education-corrects-asset-protection-allowance-still-hurts-middle-class-college-aid/
For 2016-2017 FAFSA, its asset protection for the older parent age of 53 is $21,300
@thumper1 - thanks for your reply. I did a search and it turns out for our age (53) it’s $21,300…I don’t know how I got the higher amount.
@4kidsdad - as you were posting, I was answering thumper. And I happened to be reading that exact same article right before. It’s confusing though, because it links to this chart which seems to list different numbers than what’s quoted in the article.
https://www.gpo.gov/fdsys/pkg/FR-2015-08-03/html/2015-18991.htm
For age of 52, it is $20,700. See “The EFC Formula, 2016-2017.”
Is it the age we turn in 2016? In which case it is 53. (I must have been editing the age while you were posting. 
^Age of older parent as of 12/31/2016