CSS/FFSA and personal loans.
A good friend of ours is having some financial issues. Earlier this year we offered to loan her some money, $5000. This isn't something we usually do, but she's had many hard knocks financially this year, through no fault of her own, and we don't want her to lose her house. She finally agreed to take the money.
I am in the middle of filling out the CSS. My son wants to apply ED to a school that will give us an estimate of our financial aid package before he signs the ED form. School is definitely his #1 choice.
It was NOT our intention to loan money to hide assets. We didn't even think about that when we offered to loan. Our assets are pretty small, as is our income. Will the school notice we've written this check? Or is there a place to put this on the CSS? Or should I put it on there? There is always the possibility we will never see that money again, as has happened to us when we've loaned money to family. I'm quite worried about it.