Applying to BUTI and and requesting need/merit aid. They are asking us what our savings are but I’m not sure what to answer? Anyone have any advice? Thank you!
I would interpret that question to mean
balances of checking and savings accounts.
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And other assets perhaps, like stocks, retirement account etc. I would just ask them.
You need to report all savings that you have. That is what is being asked.
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I would not include tax-advantaged accounts (e.g., retirement, 529) since that money cannot be readily accessed for normal expenses.