If house sold after filing this years FAFSA . .

Paying for College
1

If a house is sold after filing this years FAFSA, is there a requirement to advise (Financial Aid, FAFSA, anyone else)
about the change of assets, since the proceeds will inflate our current bank balance, or do we have a “grace” period until the next FAFSA must be filed?

2

or a “grace” period after we receive the Financial Aid Award Letter or Financial Aid Report?

3

Well…just make sure the profits from this house are OUT of your bank account before you complete the 2019-2020 FAFSA.

If you sold after completing the 2018-2019 FAFSA, you are not required to inform the school. Your aid was based on the info as of filing.

But if that money is in your accounts when you file the 2019-2020 forms, it WILL count as an asset for that academic year financial aid.

ETA…if you are talking about the 2019-2020 FAFSA…if you file in October, and sell your house in November, you do NOT inform the college about the sale. Assets in the bank are reported and used in the computation as of the date of filing the FAFSA.