What Counts As An “Asset” On The FAFSA?

You'll be asked to list any assets you or your parents have, but what counts as an asset?

Flickr user RikkisRefuge Other

When you file the FAFSA application, you will have to submit details about the money and other assets that you and your parents have. This allows schools and the federal government to determine how much you and your family can afford to pay and how much you will get by way of grants, loans or work-study.

Submitting the correct details is crucial. The wrong details could potentially lower the amount of financial aid you are eligible for. Submitting wrong details also means filing corrections, which can take some time. Subsequently, your financial aid package could be delayed. In order to submit the correct details, you must first understand what counts as an asset on the FAFSA.

Assets on the FAFSA

An asset is essentially any money that you have readily available. For the purpose of filling the FAFSA, these are counted as assets:

  • Money deposited in checking accounts and savings accounts
  • Real estate. While FAFSA does not consider your parent’s primary residence as an asset, you need to declare the net worth of any additional property. That includes a vacation home, a second apartment building, or a rented-out property
  • Businesses. The net worth of any businesses your parents may own.
  • Investments. This includes all stocks, bonds, mutual funds, or certificates of deposit for which YOU are the owner, not your parents.

Use College Raptor’s new Student Loan Finder to discover personalized loan options. Compare lenders and interest rates to find the ideal student loan—for FREE!

 

Lender Rates (APR) Eligibility
Sallie Mae logo.
1.13% to 11.23%1 Variable
4.25% to 12.59%1 Fixed
Undergraduate and Graduate
VISIT SALLIE MAE
Credibe company logo.
1.04% to 13.19% Variable
3.34% to 14.50% Fixed
Undergraduate and Graduate
VISIT CREDIBLE
Lendkey company logo.
1.49% to 7.64% Variable >800 FICO
3.99% to 7.64% Fixed
Undergraduate and Graduate
VISIT LENDKEY
Ascent company logo.
2.14% to 10.36% Variable
3.61% to 12.00% Fixed
Undergraduate and Graduate
VISIT ASCENT
College Ave company logo.
1.04% to 11.98% Variable
3.34% to 12.99% Fixed
Undergraduate and Graduate
VISIT COLLEGE AVE
3.51% to 6.14% Variable
4.60% to 7.40% Fixed
Undergraduate and Graduate
VISIT ISL
Earnest company logo.
1.05% to 11.44% Variable
3.49% to 12.78% Fixed
Undergraduate and Graduate
VISIT EARNEST
1Variable interest rates start from 4.12% APR to 10.98% APR. We also offer fixed interest rates from 5.74% APR to 11.85% APR. Click here for important information. Terms, conditions, and limitations apply.
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

Related Articles

Leave a reply

Your email address will not be published. Required fields are marked *