<p>My parents have put me on the Texas Tomorrow Fund and I was just wondering where do I put this on my fafsa? And what amount do I put?</p>
<p>The FAFSA form shows “prepaid tuition” as an example of an asset/investment for your parents (even though you are the beneficiary, the plan itself is listed on your parents as the fund owners)</p>
<p>The amount (as explained in the FAFSA description) should be the REFUND value - not what was originally paid. The Texas Tomorrow Fund website has a “Refund” tab listed at the left towards the bottom of the list. When we calculated ours, we used the information shown there, which was the number of prepaid hours X the current rate minus the $25 fee.</p>
<p>Hope that helps.</p>
<p>onesonmom,</p>
<p>Thank you for your answer.
On the FAFSA however it asks “On the day you submitted your FAFSA, did the total amount of your parents’ current assets exceed $39,900.00?”. The answer to that for me is no, and when I put that, it grays out the questions on the bottom that have to do with the amount of my “cash, savings, and checking accounts”, which I assume is where I put the amount of my Texas Tomorrow Fund. So do I just completely skip this part and leave it as no? Cause I don’t see where else I could put the amount of my Texas Tomorrow Fund.</p>
<p>There is an asset allowance on fafsa. Yours for your parents is $39,900. It’s based on the age of the older parent. If the amount of all your parents’ assets is less than the allowance then parent assets aren’t counted for EFC and fafsa doesn’t care about the details of those assets.</p>
<p>Thanks for clarifying, annoyingdad. First time FAFSA-er here. Didn’t realize that the asset allowance would be different for a different filer - although of course it makes sense. Ours was low enough that the $33K prepaid tuition was just above the threshold.</p>
<p>My mother purchased Texas Tomorrow for each of my children. So it is not a parental asset. Do I need to mention that somewhere on the FAFSA? I can’t remember what I did last year, but maybe it did it wrong.</p>
<p>Thanks.</p>
<p>onesonmom, you can see all the inner workings of the fafsa formula at this link. Table A5 is the asset protection allowance table.</p>
<p><a href=“http://ifap.ed.gov/efcformulaguide/attachments/091312EFCFormulaGuide1314.pdf[/url]”>http://ifap.ed.gov/efcformulaguide/attachments/091312EFCFormulaGuide1314.pdf</a></p>
<p>There is a part on the FAFSA when it says “On the day you submitted your FAFSA, what was your total current balance of cash, savings, and checking accounts?” for the student financial information. I don’t put the Texas Tomorrow Fund here right? Cause its my parents’ savings?</p>
<p>Yes, it’s a parent asset so you don’t put it in the student section. You did include that value plus all other parent savings/investments in answering that parent assets were less than $39,900, right?</p>
<p>Yes… Well that’s what they tell me. Is that unusual?</p>
<p>Not necessarily unusual, just double checking.</p>
<p>Okay I see. I’ve submitted it and got it processed, but now that I think of the Texas Tomorrow Fund, I was going to make some changes. But I guess I don’t have to do that.</p>
<p>What kind of changes? If there is an error it should be corrected.</p>
<p>Just wanted to confirm with you, annoyingdad, that after processing you can make changes/corrections such as adding a school to the school list. Also, We’re unable to open the PDF file, which I assume is where the SAR displays, and I’m guessing it might be because all we have are Macs and Safari.</p>
<p>Thanks for your knowledgeable help. Wish I’d had it before I filled out the dang thing.</p>
<p>Couldn’t tell if the first sentence was a statement or question but yes, after processing you can add schools.</p>
<p>I don’t know anything about Macs but you can download Adobe reader for Macs here:</p>
<p>[Adobe</a> - Adobe Reader : For Macintosh](<a href=“http://www.adobe.com/support/downloads/product.jsp?platform=macintosh&product=10]Adobe”>http://www.adobe.com/support/downloads/product.jsp?platform=macintosh&product=10)</p>
<p>I don’t know if Macs have something builtin that reads PDF files.</p>
<p>Sorry I worded that weird. I thought by not including the Texas Tomorrow Fund into my FAFSA, I made a mistake. But since my assets don’t exceed 39,900, then I don’t have anything to fix.</p>