I have a question about the FAFSA.?

Question

Do I have to indicate every single money I have??

My parents made a Certificate Deposit($15,000) under my name and it's not matured yet. But that money is not for me, but for buying a future house.

My question is.. Do I have to indicate that C.D. money?

If so, then would it be the reason I can't get the financial aid from the Fed? or Wouldn't it decrease the amount of Financial aid I could get from the Fed?

Thanks in advance.

Answer 1

The CD will have to be listed on question 44 under "Your Finances" as an investments.

Yes, having investments does lower your chances depending upon parents income.  Regardless of whose name is on the CD, it has to be listed because it's an asset.

The thing is, you have to remember it's the value of the CD 'TODAY'.  So, that said, if the CD was cashed out today, what would it be worth?  You said it hasn't matured so it's not worth 15k.

Good Luck to you.