3000 in bank accounts. currently filling out FAFSA. College will be about 21000year. Empty bank accounts before submitting FAFSA?

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1063639

2026-03-13 03:35

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It’s generally not advisable to empty your bank accounts before submitting the FAFSA. Your financial situation should reflect your true resources, as providing inaccurate information can lead to penalties or loss of aid eligibility. Instead, report your actual savings; the FAFSA considers various factors, and having some savings can be beneficial for financial aid calculations. Be sure to review the specific guidelines for your situation and consult with a financial aid advisor if needed.

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