Skip reporting parent assets for FAFSA?

Paying for College
1

<p>Hello</p>

<p>I reported my mothers assets for FAFSA. However, she is using half that savings soon on medical related expenses. Should I skip reporting the assets to have a better chance of receiving financial aid? </p>

<p>My original date of file was about 20 days ago. Would they detect the changes to re-evaluate it or simply discard the original information?</p>

<p>Thanks</p>

2

<p>You cannot change the assets now because you need to report the assets as of the date of filing.</p>

<p>When you get your financial aid offers, you can contact each school and discuss the change in your situation. Some might be able to modify the packages because your situation will have changed.</p>

3

<p>When do you ever report assets for the FAFSA or CSS or anything? I just put zero for everything assets related.</p>

4

<p>^Assets are reported on both FAFSA & the Profile.</p>

5

<p>Oh yeah, my parent’s assets are for retirement funds. Which doesn’t count as assets</p>

6

<p>If you and/or your parents own any property that is not your/their primary residence, and/or have any money in checking or savings accounts or in any investments that are not formal retirement accounts (IRA, 401k, 403b, Keough, Retirement Annuity,etc.), then yes you and/or they have assets.</p>

7

<p>Lakeawead, money in checking and savings accounts are also assets.</p>