FAFSA questions about assets?

sk8rmom
Tue, 08 Feb 2011 07:52:15 +0000

jamjar, since you were given a choice not to enter assets it’s likely that you qualified for the Simplified EFC formula, under which all assets are excluded from the calculation. You did not qualify for the Automatic 0 EFC, which requires an AGI under $31K. Answering the optional asset questions did not increase your EFC. You may want to look at the worksheets/tables in the EFC Formula Guide for more insight into how the EFC is calculated.

You may be able to count your son as a member of your household if he meets the FAFSA criteria. Claiming a dependent for taxes is a completely separate issue and has no bearing on how you answer the FAFSA question. You can find a complete explanation for question 72 here:
[Completing the FAFSA: Financial Aid from the U.S. Department of Education](http://studentaid.ed.gov/students/publications/completing_fafsa/index.html)