<p>My boyfriend and I share a checking/savings account. His parents unofficially loaned us around $6000 when we were traveling Europe last summer and we finally have acquired the money to pay them back. So we wrote them a check which was cashed today. The issue is I was planning on submitting my FAFSA tomorrow...is that going to look really suspicious?</p>
<p>No the smaller savings should help your FAFSA</p>
<p>You report your assets as of the day you file FAFSA. Take a screen shot of your bank balance just before you file FAFSA to show the actual amount. If it’s $6000 less tomorrow than it was today, it doesn’t matter for FAFSA; that money isn’t in your account so it’s not reported.</p>
<p>agreed, if you owed a $6000 debt, the perfect time to file your FAFSA is just after paying it off. That is not fraudulent or in any way suspect.</p>
<p>So they’re not going to wonder why the 6000 magically disappeared the day before I filed my FAFSA?</p>
<p>First, they don’t look at your monthly statement - they ask for your balance on the day you file. Second, even if they look at your statement, it is ot a withdrawal, but a check cashed by someone else. I’m sure families who pay a significant share of tuition don’t file the FAFSA on January 1st if they pay the tuition bill on January 2nd - they wait until the tuition payment clears. There is nothing particularly unusual about the balance shifting significantly from one day to the next.</p>
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FAFSA asks for the balance of your asset on the day you file FAFSA, not the history of your asset.</p>
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Right, but I mean if they look deeply into my history for any reason. I know I sound paranoid. I just really want to do it right!</p>
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<p>Oops, just saw this. That makes complete sense. Thank you very much! :)</p>