Student Assets and Joint Accounts

Paying for College FAFSA & CSS Profile
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Hey all, just posting here because of conflicting answers that I’ve seen before.

When I was a child, my grandma made a joint account with me as the primary owner. I read something about how only the amount contributed by you needs to be counted under the student assets section of the FAFSA. Is this true? If not, would removing myself as an owner of the account allow me to not report it as an asset? By the way, I don’t think the account is any sort of custodial account, just a regular joint account.

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@kelsmom

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If it’s a true joint account, you would report one-half of the account as your own asset (the other half is your grandma’s).

If you remove your name from the account before completing FAFSA, you would not report it as an asset. Of course, that’s because it would no longer be yours.

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