Must I include an inheritance that I will be receiving on my financial aid forms for college?

I am currently 17 years old, and am in high school. I will be 18 this summer, and will receive about 30,000 from an inheritance that my dad left me when he passed. I plan to go to college. Do I have to include this inheritance on my financial aid forms ? What are ways to avoid putting it on there ?

Asked on February 11, 2015 under Business Law, Missouri

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Whether you must include it depends on what exactly the forms say. If they say you must disclose all assets that you own *now*, then if you don't yet have the inheritance, you would not need to disclose it. If the forms say that you must disclose all assets or income you anticipate having during your freshman year, then you would have to disclose it. You have to be honest, but you don't have to go beyond what it asks and volunteer additional information.


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