Publication Date: January 8, 2007
Author: G. Kay Jacks, General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: Updated FAFSA on the Web Instructions Explaining How to Report Qualified Education Benefit Plans and Education Savings Accounts
Posted on 01-08-2007
We have discovered a discrepancy between the instructions for Question 44 (student asset net worth) and Question 88 (parent asset net worth) provided on the paper Free Application for Federal Student Aid (FAFSA) and FAFSA on the Web . These instructions explain how to report qualified education benefit plans (529 plans, other prepaid tuition plans offered by a State, and Coverdell education savings accounts). We are revising the instructions on FAFSA on the Web to correspond with the paper FAFSA and are adding additional clarification about how qualified education benefit plans owned by a dependent student should be reported on the FAFSA.
We regret any inconvenience this discrepancy may have caused students, parents, and schools. If you have any questions about this announcement, contact the Federal Student Aid Information Center at 800/4-FED-AID or 800/433-3243 (TDD/TTY 800/730-8913).