I am applying for scholarship and one of the questions is:
What is your parents’ (or guardians’) total cash savings? (Not limited to the amount listed as saved for college.)
What specifically are they asking? All the money in our checking/savings accounts or the money saved up for college? Do I need to add up all the money in my parent’s bank accounts?
Add up all the money that your parents have in savings accounts, checking accounts, certificates of deposit (CDs), money market accounts, piggy banks, stuffed under the mattress, plus loose change in the car (kidding about the last one, unless the car is full of loose change).
@BelknapPoint but does it sound weird if your parents make a certain sum of money but since most is used to pay off loans an stuff the cash savings is relatively lower
Not necessarily. It depends on the income and how much cash savings there is.