When I was very young, my grandfather put my name on one of his bank accounts as a joint owner. I think his intention is for me to have the money after his passing, so he does not allow me to draw money from it presently. Must I report this account on the FAFSA anyway, as part of my investments/checkings and savings?
Anonymous
Favorite Answer
Yes. Anything in your name, whether joint or separate, you need to report. They are trying to figure out if you will be able to repay them and when.
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Fafsa will see the account as money/asset that is yours as well and you will be expected to report it.
Long story short, if your name is on it (even if a joint account) it is yours.
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Here comes the thumbs down, but no. I didn't put what my parents have in the bank, because if I do financial aid won't accept me. :/ If your grandfather left you with more than a grand there's a chance that financial aid people are gonna be like, "she don't need financial help." Believe me, I know! lol I don't know, but in my opinion I wouldn't. They won't find out about that account anyways. But if you want to then go ahead. Good luck!
Russell
Hi
Have you asked the fafsa yet under contact us? They are the best one's to answer this for you, just wait for their answer.
If you are interested in a free college guide to help with money for college their is a free site just for this. The guide is a huge time saver for answers to college admissions process and scholarship as well. 70 pages of free information to answer all kinds of questions.
PETA
Yes you do or it would be fraud and since banks are federal also, they will be able to tell.
Read this http://www.finaid.org/fafsa/maximize.phtml