<p>How can I qualify for FAFSA/Financial Aid when I have investments/savings?</p>
<p>I am applying for FAFSA and need some help. I start a grad program in fall. I made $22,000 last year, and am still on unemployment this year. I have about $15,000 in savings, and $80,000 in investments. Is there anything I can do to still get Financial Aid? </p>
<p>I am thinking giving my savings to my parents and transferring my investments to my parents? Anyone else have any bright ideas?</p>
<p>Thanks.</p>
<p>I don’t think there is much federal aid available for grad students - as far as free money. </p>
<p>What kind of aid were you expecting? Fed aid is mostly for undergrads. Loans are available for grad students.</p>
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<p>Well…you need to talk to someone with expertise in this area…there is an annual limit on the amount of monies you can “gift” to someone else without a tax penalty for them (and maybe you too). </p>
<p>Second…grad school financial aid is VERY different than undergrad aid. Graduate aid is based on MERIT and comes in the form of assistantships,fellowships, scholarships, grants, loans, and in some cases work study. Stafford loans are also available to grad students. </p>
<p>Graduate school financial aid is not need based in most cases. Your EFC per FAFSA will only affect awarding of a subsidized vs unsubsidized Stafford loan…and even that won’t cover your full grad school costs.</p>
<p>I do have to ask…what is wrong with USING some of your assets to further your education??</p>