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<p>Well…sort of. The funds you place IN your retirement accounts for the tax year used for the FAFSA/Profile ARE added back in as income on both forms. So…for those applying for financial aid in the 2009-2010 school year, the tax year used would be the 2008 year. Any retirement money contributed in 2008 WOULD be counted as income. The value of retirement accounts prior to 2008 is NOT considered an asset (some colleges using the Profile to ask for the value of retirement accounts as a supplemental question…but no one seems to know what, if anything, they do with thisinformations).</p>