Money market treated the same as savings

Paying for College
1

<p>Are money market funds treated the same as savings on the FAFSA, in terms of affecting EFC?</p>

2

<p>Yes, money market funds are included as an asset along with all other cash accounts.</p>

3

<p>All reportable assets are treated the same way. I often wonder why they ask for separate figures.</p>

4

<p>Are money market funds listed under investments rather than the cash, savings, checking line?<br>
Also, is the UTMA/UTGA for the student reported under parent or student?
And one more, does a UTMA for an older child (21+) have to be included? Doesn’t the child actually own it at that point?</p>

5

<p>UTMAs are reported as student assets unless they are 529 accounts, then they are reported as parent assets. The older child’s UTMA would not be reported. </p>

<p>Money market funds are reported as investments (though it makes no difference to how they are treated).</p>

<p>You may find the pdf link here helpful - it has detailed question by question instructions and will answer a lot of your questions</p>

<p><a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/index.html[/url]”>http://studentaid.ed.gov/students/publications/completing_fafsa/index.html&lt;/a&gt;&lt;/p&gt;

6

<p>Thanks, swimcatsmom. I’ve been reading your posts all over CC. You’re a great help!</p>

7

<p>You’re welcome. CC was a lot of help to me when I first started this process.</p>

<p><a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/index.html[/url]”>http://studentaid.ed.gov/students/publications/completing_fafsa/index.html&lt;/a&gt;&lt;/p&gt;