Life Insurance Benefit
How is my Life Insurance benefits affect my FAFSA?
My father died years ago several years and have received a benefit Of Life Insurance takes place in a bank somewhere until they turn 18. The amount is approximately 25,000 so how does this affect my FAFSA, as I am filling this week. Will I still be eligible for financial aid? Is there a place I could find more information about this?
You must report all their income and assets on the FAFSA. Yes, he effect. There are several questions on the assets. Read carefully to find out what this 25 000 will be reported. If only a savings account, which would put him in "How much is in cash, savings and checking accounts? or is in any investment program, it is possible that is listed under "How do you have investments?" Investments are stocks, bonds, certificates of deposit, money market funds, etc. It really depends on how the account is configured so that when you report on your FAFSA. If all the income and asset effects of fin aid, but was not permitted to receive assistance. Anyone can get help regardless of income or assets in the form of student loans.
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