How do you answer question 88 on FAFSA?
How do you answer question 88 on FAFSA?
This is question 88 on the paper Free Application for Federal Student Aid (FAFSA®) form. Add the account balances of your parents’ cash, savings, and checking accounts as of the day you submit your FAFSA form. Enter the total of all accounts as the total current balance.
What is line 89 on FAFSA?
This is question 89 on the FAFSA. The response indicates the student’s parents’ total net worth (current value minus debt) of current investments as of the day the FAFSA was completed.
Should I answer the student assets on FAFSA?
You can only skip FAFSA questions about assets if you meet the qualifications to do so based on your answers to other questions on the application. However, that’s only because your asset information at that point doesn’t affect your eligibility for federal student aid.
How much assets is too much for FAFSA?
The FAFSA gives a parental asset protection allowance between about $30k and $50k. So, if your parents don’t have more than that in assets, these resources won’t be counted anyway. And above that threshold, it’s only about 5-6% of the net value of the parental assets that count toward your EFC.
How do I answer 91c on FAFSA?
This is question 91c on the Free Application for Federal Student Aid (FAFSA®) PDF. Enter the total amount of taxable earnings your parents received in 2019 from Federal Work-Study or other need-based work programs, such as fellowships and assistantships. Federal Work-Study is income earned from work.
What is Question 92a on FAFSA?
This is question 92a on the Free Application for Federal Student Aid (FAFSA®) PDF. Enter the total amount your parents paid to their tax-deferred pension and retirement savings plans (paid directly or withheld from their earnings) in 2019.
Should I skip student asset questions on FAFSA?
Based on your answers to certain questions on the Free Application for Federal Student Aid (FAFSA®) form, you may be given the option to skip additional questions about your income and assets. If you’re given the option to skip questions, keep in mind that doing so won’t affect your eligibility for federal student aid.
Will FAFSA check my bank account?
FAFSA doesn’t check anything, because it’s a form. However, the form does require you to complete some information about your assets, including checking and savings accounts. Whether or not you have a lot of assets can reflect on your ability to pay for college without financial aid.