<p>When I first filed my FAFSA last spring, I was only vaguely aware that I had a trust fund. When I was asked for assets and filled them all out, I listed $0, I believe. I only received the trust on my 18th birthday. I am now transferring schools and had my FAFSA sent to my new school, but I did not realize that trust funds are supposed to be counted on the FAFSA until recently. I will have 0 EFC regardless of whether the trust fund is included or not, but I need to know what steps I am supposed to take from here. Should I call my financial aid office and ask them to fix the error for me? I'm unsure. Thanks for your help!</p>
<p>I have same/similar question. Although my dd is aware of hers, it is in a restricted custodial account. Still no clue how that is to be entered on FAFSA.
Anyone???</p>
<p>Trustfundhelp, call the college’s FA office and ask them to make the adjustment. They’ll tell you if they need any additional documentation for that.</p>
<p>Alwaysbelieve, this is from the FAFSA instructions:
</p>
<p>[Completing</a> the FAFSA 2010-2011/The Application Questions(41-43)](<a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/2010_2011/ques3-2.html]Completing”>http://studentaid.ed.gov/students/publications/completing_fafsa/2010_2011/ques3-2.html)</p>
<p>My understanding is you can amend the FAFSA for fields where you made a MISTAKE. You did, so just amend it and resend.</p>
<p>Re: trusts to all of you…if your child and/or you are beneficiaries of a trust REGARDLESS OF WHETHER YOU HAVE ACCESS TO THE MONEY, you MUST list your value of the trust on the FAFSA. If the child is a beneficiary AND you also are, you must list BOTH values. </p>
<p>Trusts are reportable assets and are not exempt from reporting regardless of the conditions of the trust. They MUST be reported…doesn’t matter if you have no access to the funds or never will have access to the funds (e.g. jointly owned trust properties that you can’s access unless the trust is liquidated)…you must report your share of these trusts.</p>
<p>I can tell you…we researched this first hand a couple of years ago. I don’t believe there is anyway to NOT report a trust.</p>