Question about cars as assets

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
Tofer
Posts: 7
Joined: Wed Oct 26, 2011 3:00 am

Question about cars as assets

Postby Tofer » Thu Jan 19, 2012 3:14 am

-
Last edited by Tofer on Fri Feb 03, 2012 12:48 am, edited 1 time in total.

09042014
Posts: 18282
Joined: Wed Oct 14, 2009 10:47 pm

Re: Question about cars as assets

Postby 09042014 » Thu Jan 19, 2012 3:27 am

Tofer wrote:Wondering if anyone can help me with the following:

The need access form asks about vehicles for both the user and spouse (I am married). We both currently drive cars that are not under our name (we don't pay for them). In my case, my parents are paying for the car and they bought it "for me". However, realistically, I don't think I will be using the car while in law school and so, even though I am the current main driver of the vehicle, my parents will use it for the next three years while I am in law school.

Do I have to report these cars as ours (mine and my spouse's)? or should they technically be reported under their actual owners (on paper) which are our respective parents?

I appreciate any insight!


If you don't have title and can't sell it, it isn't yours.

Tofer
Posts: 7
Joined: Wed Oct 26, 2011 3:00 am

Re: Question about cars as assets

Postby Tofer » Thu Jan 19, 2012 3:52 pm

That's how I think of it! But I feel like every question on the need access form comes down to if's (projected earnings for 2012 summer?!?! wth?!?!). I hope they don't give me trouble over it. Thanks!!!




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 1 guest