FASA help

I just turn 18 a few days ago and made a bank account and threw a large deposit after applying for FAFSA , Financial Aid. I was wondering if having a large amount of money in my savings account will affect how much $$ I will get from the government?

 

I dont think it would but if it did then it would depend on how large the deposit is. But i think that it would be from your income. You make alot of $$ then you dont need alot of aid. You dont make alot of $$ then you need more aid. On top of that its your savings account not a checking.

 

I dont think it should, but then again im 17, and my father pretty much filled everything out. Call the Fafsa hotline, or something of that nature. Remember: dont mention how much money you put in, be VERY general. The government loves to take and not give.

 

It's based off income and the money you receive from the government for various things such as medicare, FSA, and unemployment.

 

The government bases your aid off income. I know from my father being sick, but they wouldn't give him any relief because my mom made too much herself.

 

I get Aid and its a pain to fill out all the forms. Just fill them out correctly and if you do not think something will matter of high importance then just ask best of your "ability" but do not say you didn't move a million dollars into bank account and expect them to not find out.

 

Depends on what you define as 'large' and what you're doing. For college, it'll affect your grants a bit if you report a large amount of savings. That means you have money to pay for college and a less need for government aid. I don't know for other aspects of life, but it should have the same principle.

 

Awww seriously? This thread really helped, lol. I've been withdrawing cash and putting it in a box by my bed (no lie) to ward the feds away.

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