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Author Topic: Need Access/Bank account balances  (Read 558 times)

Rooster

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Need Access/Bank account balances
« on: February 21, 2007, 12:00:05 PM »
How bad would having roughly 7k in the bank mess up getting need based aid?  I plan on buying a car so the money would be gone soon after reporting it to Need Access, so I would hate to get screwed on Fin aid.

Anyone else in a similar position?
In ^_^= UConn, UCLA, Temple, Quinnipiac
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Boss

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Re: Need Access/Bank account balances
« Reply #1 on: February 21, 2007, 12:37:23 PM »
I would think it would hurt you.  They'll probably view that $7K as something that you can use for college.  I'm in a similiar position.  I've got money that I'm going to use for paying down some loans, and I plan to get them all paid off before finalizing my FINAID paperwork.  That way, I'm honestly saying that I have $0 in my bank accounts.
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617

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Re: Need Access/Bank account balances
« Reply #2 on: February 21, 2007, 12:41:06 PM »
How bad would having roughly 7k in the bank mess up getting need based aid?  I plan on buying a car so the money would be gone soon after reporting it to Need Access, so I would hate to get screwed on Fin aid.

Anyone else in a similar position?


This would likely be $7k that would immediately be cut off the top of any financial aid you might receive.  It would be in your benefit to buy the car before submitting NeedAccess, or to otherwise lower that number.

Rooster

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Re: Need Access/Bank account balances
« Reply #3 on: February 21, 2007, 12:46:48 PM »
How bad would having roughly 7k in the bank mess up getting need based aid?  I plan on buying a car so the money would be gone soon after reporting it to Need Access, so I would hate to get screwed on Fin aid.

Anyone else in a similar position?


This would likely be $7k that would immediately be cut off the top of any financial aid you might receive.  It would be in your benefit to buy the car before submitting NeedAccess, or to otherwise lower that number.

Will do.
In ^_^= UConn, UCLA, Temple, Quinnipiac
Out, el oh el= BC, Georgetown, Michigan