<p>So i have been reading many posts about fafsa. And my friends have told me about movement of money due to their accounts accumulating money. Basically I have 2,000 dollars of money that i have been saving since the beginning of the summer working part-time. Will this money affect my chances on Fafsa? And what should i do?
I was thinking I should spend some quickly such as paying some upcoming large bills early, like car insurance. Also how much money is to much for me to have during this processes.
Info:
High School Senior
thanks</p>
<p>Student assets get assesed at 20% towards your EFC so this will add $400 to your EFC. </p>
<p>Depending on what your EFC is this may not matter much, but if you are on the cutoff for pell it may make a difference.</p>
<p>Definitely pay any large bills before you file. You can also “pay” your parents the rest for your expenses with the agreement that they’ll pay that amount later towards something later for you…maybe dorm stuff or whatever you planned to do with that money.</p>