Hey!
My parent makes very little and I was asked this on the FAFSA right after inputting my income:
Do you want to skip the remaining questions about your and your parents’ income and assets?
What should I answer?
Answer Yes, you want to skip the asset questions. You do not have to answer them if your income is below $50k
@twoinanddone Will it harm me in any way? My income is less than 50k.
Those questions often increase your EFC and decrease you aid. So if you could skip those questions, your aid may be higher.
If you correctly answered the income questions, the ‘skip logic’ allows you to skip the asset questions. I’m not sure why anyone would answer No and then have to fill out the asset questions (maybe if the income was close and they were just estimating and estimated too low?)
It is scary answering the questions and not knowing exactly what they mean. Do your best, but I think you can safely answer Yes, you want to skip the asset questions.
There are some states that apparently require the asset information even when a student is not required to provide it.