<p>My son wants to list his savings account as "his" asset on the FAFSA. I was going to list it under mine because it is in joint ownership. My understanding is that then it would be counted as a parental asset at a lower rate. However, the value of this account is only $1,000. Is it even worth fighting about?</p>
<p>List it as yours. Parents know best!</p>
<p>Tell your son if he lists it as his, you expect him to give you $150 to cover the increased EFC that this will trigger. I’ve been told that student assets are assessed at 20% with no asset protection allowance. If you list it as yours, it will be assessed at a lower rate and you’ll have your own asset protection allowance as a potential offset. </p>
<p>Then it becomes his decision… is it worth $150 for the privilege of calling it his?</p>