Assets are the items of value that a family owns. Assets are used when calculating the expected family contribution that a family will make towards a student's education. The assets are added to the income that the family has when determining how much money the family will be able to contribute to the education of a child.

Things that might be considered assets with figuring the expected family contribution include stocks, securities, real estate, savings accounts, and much more. A person's home, however, cannot be considered an asset when figuring the expected family contribution.

It is important to be entirely truthful when reporting assets on the FAFSA. If you are found to have been untruthful on the FAFSA, it can cause you to be refused the aid that you want, even if you might have qualified. Be detailed and careful when filing the FAFSA documentation, as your approval for financial aid rests on this document.

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