FAFSA LLC & Trust Guidance

kelsmom
Tue, 30 Nov 2021 00:45:22 +0000

You need to report everything. Trying to hide assets is rarely possible. As for paying mortgage vs. having cash in the bank, it very well may make no difference in your aid. Go to the school’s NPC and enter all of your information with and without the cash you could possibly use to pay down the mortgage. You will see a difference in your EFC, but you may very well NOT see a difference in aid. Oh, and the assets in your trust are just like any other assets. Report cash & investments. The value of cars & primary residence, for example, are not reported (regardless of whether or not they are in a trust).