Understanding Assets for Financial Aid — What Counts and What Doesn’t
00:00:00.000 | Let's talk a little bit more about assets, because your assets count against you, but they give you a pass on a lot of assets.
00:00:05.380 | So typically your retirement doesn't count.
00:00:07.760 | So anything that's a pension, profit sharing, 401ks, IRAs, all that stuff is not counted against you.
00:00:13.760 | For the federal method, the FAFSA, your primary residence doesn't count.
00:00:18.020 | So your home, your home equity, your big mortgage, all that stuff just doesn't show up.
00:00:22.180 | So what does show up?
00:00:23.440 | Well, anything that's not retirement.
00:00:25.520 | So your savings, mutual funds, exotic investments, crypto, something like that.
00:00:30.200 | That's all, those are all assets.
00:00:31.580 | You'd have to report those.
00:00:32.820 | Stock options at work that are not tied into an actual retirement plan would count.
00:00:38.540 | Real estate, that's not your primary residence.
00:00:41.300 | So if you have vacation land or property, if you have business property, farms, some of those things would count.
00:00:47.920 | And then the other big one is college savings.
00:00:50.060 | So your 529s would count and those types of things.