Hello,
I tried asking my financial aid office, but they were not very helpful. When filing my FAFSA in October the question ‘As of today how much money do you have in cash, your checking account, and your savings account?’ does this include leftover refund money from loans that I am living off of or just my own money?
Do not include loan money
I thought she means loan money in-hand, in her accounts. ?
^^ I’m not sure what you mean? Do I include my loans or not? It is in my checking account, but is used for living expenses, so it will not be there after this semester.
If it is money directly from prior financial aid, including loans, you do not include it. If it is all co-mingled, you have to be able to show that the money was from FA and not from a job.
My daughter will get her money in Sept, about $6000 that she’ll use for rent, books, utilities for the semester. If she was filing FAFSA (she’s DONE!) she would not include any of that money but would report the money she made this summer if any of it is left (total balance less $6000=reportable money in accounts on FAFSA).
So should I not use any financial aid money until after October 1st to verify that it is from financial aid if necessary? For example, I have financial aid money and I have money in there from my job before I transferred to university. So I just include whatever is left from my job for FAFSA, as long as I don’t touch the financial aid money, correct?
If you have $4000 from FA, don’t include it. If you have money from work, include it.
Thank you everyone!