<p>Hi,</p>
<p>I am a parent with first child heading off to College. Just went to "Upenn" presentation on Sunday & listened to the spiel about students "graduating" debt free.</p>
<p>When I got a chance to mingle, spoke to the Alumni present -- some of them are paying every dime they earn to pay off Student Loans ...</p>
<p>So far, I have tried filling up Collegeboard NetPrice Calculator, Individual Net price calculators for different schools and also the FAFSA4Caster.</p>
<p>In each case, they ask you to declare "assets".</p>
<p>For example on the FAFSA4Caster, you plug in the AGI for 2011 and it comes up with a "number" for the Dollar amount as "assets", with a drop down button to update it.</p>
<p>Should this "Asset" dollar amount be "updated" to show all your "previous years" ?</p>
<ol>
<li> investments like including stocks, mutual funds (these are not liquid cash assets)</li>
<li> CDs ie Fixed deposits ?</li>
<li> Bonds ?</li>
</ol>
<p>If we change the asset dollars , then the EFC changes signficantly, even though most of the monies are completely tied up ?</p>
<p>The same applies for the CSS/Profile stuff, and other "netprice calculators" from all colleges.</p>
<p>Any pointer's in this will be great.</p>
<p>Thanx for the help in advance. </p>
<p>So far the best & simplest "netprice" calculator INMHO for Middle class families was from Harvard.</p>
<p>Assets are reported as of the date the FAFSA is filed.</p>
<p>So, if you plan to file FAFSA on 1/1/2013, report all the asset valued on that day.</p>
<p>Stocks, mutual funds, bonds, & CD in your regular accounts (not retirement accounts) are included in the asset.</p>
<p>Your assets are the value of the holdings on the day you file the FAFSA or CSS Profile. For example 100 shares of XYZ at the closing price today. You will need to update these figures every year. If your numbers don’t make sense to the people who read your FAFSA and CSS Profile, they will ask for verification of the exact amounts as of the date you filed.</p>
<p>Your assets include stocks, mutual funds, CDs, bonds, checking accounts, savings accounts, valuables that you own for the purpose of investment, that stash of ready emergency get-away cash under your bed. For FAFSA purposes, the money in your IRA, 401(k), 403(b), and certain other retirement vehicles is not considered an asset. The money you put in this year is included as part of your income for this year. FAFSA also doesn’t take into account the value of your primary residence. The CSS Profile is different for every institution, and as I have been informed by parents who have filed it, can ask for not only your retirement accounts, but also the value of your home, your cars, etc.</p>
<p>It doesn’t matter if the money is tied up. As far as the financial aid system is concerned, that money is available because you can sell or borrow against all of these investments.</p>
<p>I’ve never run the FAFSA4Caster. It confused me. I recommend printing out the FAFSA formula itself. Here is the link to the one for next year: [IFAP</a> - EFC Formula Guide](<a href=“http://ifap.ed.gov/efcformulaguide/091312EFCFormulaGuide1314.html]IFAP”>http://ifap.ed.gov/efcformulaguide/091312EFCFormulaGuide1314.html)</p>
<p>But, quite frankly, all of this is moot if you haven’t sat down and figured out just exactly what you personally are ready, willing, and able to pay each year, and whether or not you are also ready, willing, and able to borrow for your child’s education. Figure out your own figures, and work from there. That way your kid will know how deep and how far he/she will have to dig to find a financially safe institution.</p>