What is Question 23 on the FAFSA?
You left question 23 blank on your Free Application for Federal Student Aid (FAFSA). This question asks, “Have you been convicted for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid (such as grants, loans or work-study)?”
Should I answer asset questions on FAFSA?
You can only skip FAFSA questions about assets if you meet the qualifications to do so based on your answers to other questions on the application. However, that’s only because your asset information at that point doesn’t affect your eligibility for federal student aid.
Should you skip the remaining questions on FAFSA?
If you’re given the option to skip questions, keep in mind that doing so won’t affect your eligibility for federal student aid. However, answering these questions won’t affect your eligibility for federal student aid, such as a Federal Pell Grant.
How do you answer assets questions on FAFSA?
As a general rule, you should only report assets that are cash-based (i.e. not your car) and liquid (meaning you can easily turn them into cash). Things like trust funds and 529 savings plans (if they’re owned by you or your parent) do need to be reported, as well as more obvious things like your bank balances.
What is drug conviction affecting eligibility?
Drug convictions no longer affect your federal student aid eligibility. When you complete the FAFSA form, you will be asked whether you had a drug conviction for an offense that occurred while you were receiving federal student aid.
What assets are reported on FAFSA?
Which Assets Are Reportable on the FAFSA?
- Bank and brokerage accounts.
- Certificates of deposit (CDs)
- Money market accounts.
- Mutual funds.
- Stock options.