benefits	(awards,	living	allowances,	and	interest	accrual	payments)	except	those	for	health	care	or	childcare.
Employers	may	help	with	education	costs	by	paying	stipends	or	reimbursing	employees	for	classes	taken.	These
benefits	count	as	other	financial	assistance	(or	reduce	the	cost	of	attendance)	even	if	they	aren9t	received	until	the
end	of	the	class(es)	and	are	contingent	on	earning	a	minimum	grade.	Any	taxable	portion	should	be	included	in	this
field.
Foreign	earned	income	exclusion.	From	IRS	Form	1040	Schedule	1:	line	8d.	This	amount	is	typically	a	negative
value	on	the	tax	return.	The	SAI	formula	will	consider	the	absolute	value	of	any	negative	value	reported.
Annual	Child	Support	Received	(21)
Annual	child	support	received	is	included	as	an	asset	of	the	recipient	in	the	SAI	formula.	If	an	independent	student	(and
their	spouse,	if	married)	received	child	support	in	the	last	complete	calendar	year,	they	should	enter	the	total	amount
received	for	all	children	in	the	family	size	in	this	question.
Student	Assets	(22)
An	asset	is	property	that	the	family	owns	and	has	an	exchange	value.	The	FAFSA	form	collects	current	data	(as	of	the	day
the	FAFSA	form	is	signed)	about	cash,	savings	and	checking	accounts;	investments	and	real	estate;	and	businesses	and
investment	farms.
Most	assets	are	investments	such	as	qualified	education	benefits	or	savings	accounts,	Coverdell	education	savings
accounts,	real	estate,	installment	and	land	sale	contracts	(including	mortgages	held),	trust	funds,	mutual	funds,	money
market	funds,	Uniform	Gifts	and	Uniform	Transfers	to	Minors	(UGMA	and	UTMA)	accounts,	certificates	of	deposit,	stocks,
stock	options,	bonds,	commodities,	and	precious	metals.	If	the	asset	isn9t	a	business	or	farm,	it	is	reported	as	an
investment.
The	FAFSA	form	asks	for	the	net	worth	of	investments,	which	is	their	total	current	market	value	minus	their	associated
debts.	If	their	net	worth	is	negative,	zero	should	be	reported.
Applicants	will	be	asked	to	report	the	net	worth	of	all	businesses	and	farms,	regardless	of	the	size	of	the	enterprise,
location	of	the	family9s	residence	on	the	property,	or	number	of	employees.	The	current	net	worth	(the	current	market
value	minus	the	debt	owed	on	it)	is	reported	for	land,	buildings,	machinery,	equipment,	livestock,	unharvested	crops,	and
inventories.	However,	the	value	of	a	family9s	primary	residence	is	still	excluded,	even	if	the	residence	is	on	the	farm
property	or	used	to	run	the	business.	Applicants	should	determine	the	total	net	value	of	all	farm	assets	and	subtract	the
net	value	of	their	principal	residence	to	determine	the	final	value	of	their	farm	assets.	The	principal	residence	may	include
the	family9s	home,	as	well	as	structures	and	land	adjacent	to	the	home	that	are	not	being	used,	stored,	or	sold	for	farming
or	other	commercial	activities.	Property	values	are	generally	assessed	at	a	rate	that	considers	the	use	of	the	property	and
the	value	of	the	land.	Applicants	and	their	families	may	refer	to	their	property	tax	assessments	from	municipal,	county,	or
state	governments	to	help	determine	and	separate	the	value	of	their	principal	residence	from	other	property.
Qualified	education	benefits	or	education	savings	accounts	include	Coverdell	savings	accounts,	529	college
savings	plans,	and	the	refund	value	of	529	prepaid	tuition	plans.	For	an	independent	student,	the	accounts	owned	by	the
student	(and/or	the	student9s	spouse)	are	reported	as	student	investments.	For	a	dependent	student,	an	account	is
reported	as	a	parental	investment	if	the	account	is	designated	for	the	dependent	student	(accounts	designated	for	other
children	in	the	family	are	not	included).	If	the	student	is	the	beneficiary	(but	not	the	owner)	of	the	account,	the	value	is
not	reported	as	a	student	asset.
States,	their	agencies,	and	some	colleges	sponsor	qualified	tuition	programs	(QTPs).	The	IRS	mentions	two	types	of
QTPs	that	are	commonly	called	prepaid	tuition	plans	and	college	savings	plans.	States	may	offer	both	types,	but	colleges
may	only	sponsor	prepaid	tuition	plans.
Prepaid	tuition	plans	allow	a	person	to	buy	tuition	credits	or	certificates,	which	count	as	units	of	attendance.	The	number
of	units	doesn9t	change	even	though	tuition	will	likely	increase	before	the	beneficiary	uses	the	tuition	credits.	They	are	an
asset	of	the	plan	owner,	and	their	worth	is	the	refund	value	of	the	credits	or	certificates.
College	savings	plans	allow	a	benefactor	to	deposit	money	into	an	account	that	will	be	used	for	the	beneficiary9s	college
expenses.	The	buyer	does	not	pre-purchase	tuition	credits	as	with	a	prepaid	tuition	plan.	Rather,	this	type	of	plan	is
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