<p>
. That’s not the way it works. Some assets are not reportable on FAFSA, Mainly your primary home and any retirement savings (like IRAs, 401ks). Other assets must be reported but you will have a certain amount of asset protection under FAFSA, based on your age. After that only up to 5.6% of reportable assets have any affect on your EFC. So if you had say $100,000 in assets the impact on your FAFSA EFC would be 5600. </p>
<p>Remember the majority of schools include loans in their FA packages and most schools do not meet full need even with the loans (student loans are very limited). My kids have very low EFCs and do get some grant aid but also have loans. It is only because of her good merit scholarships that my daughter’s need was met without us having to take out large parent PLUS loans. With or without the assets you will probably have to find some money to pay for school. Having the assets will mean you have options other than loans.</p>