Does the total amount of your parents’ asset net worth exceed the amount listed?
Select “Yes” if your parents’ current asset net worth exceeded this amount on the day you submitted your Free Application for Federal Student Aid (FAFSA®) form.
Select “No” if your parents’ current asset net worth didn’t exceed this amount on the day you submitted your FAFSA form.
Asset net worth means the current value of the assets minus what is owed on those assets.
- money in cash, savings, and checking accounts;
- investment farms; and
- other investments, such as real estate (other than the home in which your parents live), Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act (UTMA) accounts for which your parents are the owner, stocks, bonds, certificates of deposit, etc.
Assets don’t include
- the home in which your parents live;
- UGMA and UTMA accounts for which your parents are the custodian, but not the owner;
- the value of life insurance;
- ABLE accounts; and
- retirement plans (401[k] plans, pension funds, annuities, noneducation IRAs, Keogh plans, etc.).