Will it affect my financial aid too much?
I already filled out my fafsa and everything but does it matter how much money I have in my check ac
How much is in the checking account? What are total assets?
I understand that some of the applications get audited, so if you’re suggesting that you did not report some of your assets, it could be a problem.
Did you include the amount in your checking account as of the date you filed the FAFSA?
What was that amount?
If you didn’t include that amount , you can update your FAFSA and make that correction. The amount needs to be the amount as of the date of your initial FAFSA filing.
Will it affect your aid? No way to answer you. It depends on the college aid awarding policies, the amount in the account, your parents age (there is an asset protection allowance), your parent income (because really income drives the family contribution) and the cost of the college.
Do you mean you have a higher balance after submitting FAFSA?
You can’t move the $ in your checking account elsewhere as its still your money. Pay bills ahead and have as little as possible in your checking account the day you file.
I meant the day I file, I made sure to have paid all my bills then. I meant money in my checking account fluctuate obviously.
All that matters is what you actually had on the day that you filed.
It does not matter after you filed it. Note that you need to report it as asset even if it is not in your bank account on the day of filing.