Hiding Liquid assets

cptofthehouse
Sun, 25 Mar 2012 21:37:51 +0000

Yes. You make sense. But the fact of the matter is that if you get a one time slug of cash, you are going to be hit up for it. What drives the FAFSA numbers the most is the income. Unless the bonus is being illegally slipped “under the table” to you, it will be reported for tax purposes, and that is where it will most impact your EFC. Your assets are hit at 5.6% after a certain protection amount. If your family is on the brink of qualifying for PELL, all of this might make a big difference, but for most purposes it is not.

I suggest you read a guide to financial aid and colleges and work through some sample FAFSAs so you see how it works… Please don’t expect to get advice to do anything illegal here.