chicklett1 said:
Hi guys,
Anyone know where the really great FAFSA thread went?
Also, under section 6, where you are asked to declare total investments, does anybody know if we are required to include IRAs into that calculation?
Thanks!
From the current
FAFSA worksheet online:
Answer these questions as of the date you will submit your FAFSA.
Investments include real estate (do not include the home you live in), trust funds, money market funds, mutual funds,
certificates of deposit, stocks, stock options, bonds, other securities, Coverdell savings accounts, college savings plans,
installment and land sale contracts (including mortgages held), commodities, etc. Investment value includes the market
value of these investments as of today. Investment debt means only those debts that are related to the investments.
Investments do not include the home you live in; the value of life insurance,
retirement plans (pension funds, annuities,
noneducation IRAs, Keogh plans, etc.), and prepaid tuition plans; or cash, savings, and checking accounts.
Business and/or investment farm value includes the market value of land, buildings, machinery, equipment, inventory, etc.
Business and/or investment farm debt means only those debts for which the business or investment farm was used as
collateral.
