FAFSA questions about assets?

jamjar21
Tue, 08 Feb 2011 00:15:38 +0000

Well I could have opted out on answering these questions about reporting assets and I stupidly reported them anyway. I put that my daughter had $3,000 in her bank account. Now my EIC is $2,200 more than last year…could this be the reason why? I didnt think it would make much difference. Also I have one less dependent, can this make that much difference? Can I claim my son as a dependent even if he files his own tax return as an 'independent". He did live at home part of the year last year (I know should be at least 5 months)? Thanks for any help. Yikes, I thought since we made less money this year that my daughters financial aid would be more not way less.