Hiding Liquid assets

three4three
Sun, 25 Mar 2012 21:17:23 +0000

I would think that an employment bonus would be considered “income”. If it is included on your W-2, you won’t be able to hide it. If this money will still be sitting around in your bank account in Jan of 2013, then it will be considered an asset for FAFSA purposes. The FAFSA does treat assets differently, depending on a lot of circumstances. Is this money the student’s money, or are you a parent? What is your overall income level? Do you have other assets?

It sound like you don’t really want to “hide” the money, so much as you want advice on the best lawful strategy to use to minimize the effect the money will have on your financial aid in 2013. Thinking ahead is a good thing, so don’t be afraid to ask specific, detailed questions!