What assets are taken into consideration in the financial aid process?
Under IM, the following parental assets are considered: · Cash, savings, and checking accounts · Investments, including stocks, bonds, savings bonds, mutual funds, trust funds, money market funds, CDs, education IRAs, college savings plans, commodities, precious and strategic metals, installment and land sale contracts, and other investments · Assets in siblings’ names, including funds in custodial accounts, Uniform Gifts to Minors accounts, and other savings and investment accounts held in the names of the student’s siblings, who are under 19 and not enrolled in college · Assets held in state college savings plans · Real estate · Home equity · Business assets · Farm equity. Under IM, the following student assets are considered: · Cash, savings, and checking accounts · Investments · Real estate · Trust funds.
