<p>i recently recieved an "inheritance" of about 20k. my problem is that it is all unreported, my father made his money in cash and so all the money i recieved has been in cash and so it basically looks like a drug deal. if i take the money out of my account and put it in a lock box at the bank would i have to report it on the fafsa even though it doesn't appear to be in any checkings or savings accounts at the time that i fill it out?</p>
<p>It doesn't matter where you have the money. If you have it, you are supposed to report it on the FAFSA.</p>
<p>Your monetary assets will be assessed at 20% per year towards your student contribution, so you will have a bases of $2,500 (in addition to the schools standard student contribution) from your inheritance which will go to pay for college annually, unless you spend down some of the funds before completed the fafsa. It may be a good idea to buy some of the things you would be spending the money on anyway, such as a computer and dorm stuff.</p>
<p>Use the calculator at <a href="http://www.finaid.org%5B/url%5D">www.finaid.org</a></p>