Co-owned savings bonds on FAFSA: Do I have to report them?

Yesss you definitely need to report them!! The FAFSA counts ALL assets where your name appears regardless if you can access them now. My brother got flagged for verification because he didn't include co-owned property and it was a NIGHTMARE to fix.

The previous response isn't entirely accurate. For co-owned savings bonds, you only need to report the portion you effectively own. If you and your grandmother are co-owners, technically you own 50% of the value, so you'd report $6,250. However, if there's documented evidence that you cannot access these funds (like a trust agreement), you might have grounds to exclude them. The key FAFSA rule is about "ownership and access" - both matter.

when i did fafsa last yr i didnt report the bonds my uncle made me co-owner on cuz i literally cant touch them til im 25. nobody said anything about it in my aid package so 🤷‍♂️

Hi there! To give you the full picture - the FAFSA treatment of co-owned assets can be tricky. Here's what I learned when dealing with this exact situation with my daughter: 1. Yes, co-owned assets generally need to be reported 2. You report only your ownership percentage (usually 50% unless documented otherwise) 3. Some assets have specific exclusions or treatments For savings bonds specifically, if they're in both names but your grandmother purchased them entirely AND there's documentation showing you can't access them until certain conditions are met, you might have grounds to exclude them or reduce your reported percentage. I recommend calling the Federal Student Aid Information Center at 1-800-433-3243 to get an official answer for your specific situation. They can document their guidance in your account notes in case questions come up later.

I was in a similar situation last year with my grandparents' bonds. I tried calling FSA for literally THREE DAYS (kept getting disconnected) before I found out about Claimyr.com - it's this service that holds your place in the phone queue and calls you when an agent is available. Saved me hours of hold time! There's a video demo at https://youtu.be/TbC8dZQWYNQ that shows how it works. The agent I finally spoke with told me I only needed to report 50% of the bonds' value and noted it in my account in case of verification. Worth checking out if you're struggling to get through!

THIS IS WHY FAFSA IS THE WORST!!! Different agents tell people different things and then they PUNISH US when we follow the wrong advice! I swear they make it complicated on purpose to deny aid to people who need it 😡

For anyone dealing with co-owned savings bonds on the FAFSA, here's the official guidance: 1. Report your ownership percentage (usually 50% unless legally documented otherwise) 2. If access is restricted until a future date or event, you should still report your ownership portion 3. If selected for verification, provide documentation showing: - The bond's total value - Your ownership percentage - Any legal restrictions on access The key is documenting everything. Get a statement from your grandmother explaining when the bonds were purchased, who contributed the funds, and any conditions on accessing them. Have her sign it, and if possible, get it notarized. Remember that student assets affect your SAI calculation more than parent assets (20% vs. 5.64%), so proper documentation is crucial.

There's no specific form for documenting restricted assets on the initial FAFSA submission. You'll report the asset value based on your ownership percentage, and then keep all documentation ready in case you're selected for verification. After speaking with an FSA representative (finally got through!), I can confirm that for co-owned savings bonds where you are restricted from accessing the funds, you should: 1. Report 50% of the value on your FAFSA (your ownership portion) 2. Keep documentation ready showing the restriction 3. If selected for verification, submit this documentation with an explanation letter The representative also mentioned that in some cases, if the restriction is legally binding and permanent until a specific event (like the other owner's death), you might be able to appeal for a professional judgment review to have the asset excluded, but this would happen after initial FAFSA submission.

Just wanted to add my experience for anyone else dealing with this - I had a very similar situation with co-owned CDs my grandfather set up for me. After reading through all these responses and doing more research, I called the FSA line using that Claimyr service someone mentioned (seriously a lifesaver!) and got consistent advice with what others have shared here. The agent confirmed I should report 50% of the value since I'm a co-owner, even though I can't access the funds until I'm 21. She also noted in my account that I had called about restricted co-owned assets, which she said would be helpful if I get selected for verification. One thing I'll add - make sure you have the current value of the bonds when you fill out your FAFSA, not just the purchase price. Savings bonds accrue interest over time, so the reportable amount might be higher than you think. You can check current values on the Treasury Direct website. Good luck with your FAFSA submission! It's stressful but you've got great advice from everyone here.

As someone who works in financial aid at a state university, I want to emphasize how important it is to get this right from the start. The advice here about reporting 50% of co-owned savings bonds is generally correct, but I'd strongly recommend getting official documentation before submitting your FAFSA. Here's what I tell students in your situation: 1. Contact your grandmother to get a written statement about when the bonds were purchased, who funded them, and any access restrictions 2. Get the current value from Treasury Direct (not the face value or purchase price) 3. Report 50% of that current value on your FAFSA 4. Keep all documentation organized in case of verification One additional tip - if your family's income is low enough that you might qualify for the simplified needs test or automatic zero EFC, student assets won't count anyway. But it's still better to report accurately and have them potentially ignored than to omit them and risk fraud allegations. The verification process isn't as scary as people make it sound if you have proper documentation. Schools deal with asset questions all the time, and we're there to help you get it right, not to penalize honest mistakes.