Asset Verification

Financial Aid and Scholarship Services will request this form only if it is needed to complete your financial aid file. This item holds the awarding and disbursement of financial aid if it is listed on your your task list on My ASU.

The Asset Verification form is requested in order to verify information submitted when a student completed the Free Application for Federal Student Aid (FAFSA).

You can view your document status on your My ASU Finances page. Please allow 2-3 business days to show receipt in your My ASU Financing Tasks.

Information:

The Asset Verification form requests the following information reported as of the date that the FAFSA was completed and signed:

  • Total Balance of Cash, savings and checking accounts (do not include student financial aid).
  • Net worth (current value minus debt) of your investments.
  • Net worth (current value minus debt) of your current business and/or investment farms.

Net worth means current value minus debt. If net worth is negative, enter 0.

Investments include real estate (do not include the home you live in), trust funds, UGMA and UTMA accounts, money market funds, mutual funds, certificates of deposit, stocks, stock options, bonds, other securities, installment and land sale contracts (including mortgages held), commodities, etc. Investments also include qualified educational benefits or education savings accounts (e.g. Coverdell savings accounts, 529 college savings plans and the refund value of 529 prepaid tuition plans). For a student who does not report parental information, the accounts owned by the student (and the student’s spouse) are reported as student investments. For a student who must report parental information, the accounts are reported as parental investments, including all accounts owned by the student and all accounts owned by the parents for any member of the household.

Investments do not include the home you live in, the value of life insurance, retirement plans (401[k] plans, pension funds, annuities, non-education IRAs, Keogh plans, etc.) or cash, savings and checking accounts already reported in question 1 above. Investments also do not include UGMA and UTMA accounts for which you are the custodian, but not the owner.

Investment value means the current balance or market value of these investments at the time you filed the FAFSA. Investment debt means only those debts that are related to the investments.

Business and/or investment farm value includes the market value of land, buildings, machinery, equipment, inventory, etc. Business and/or investment farm debt means only those debts for which the business or investment farm was used as collateral.

Business value does not include the value of a small business if your family owns and controls more than 50 percent of the business and the business has 100 or fewer full-time or full-time equivalent employees. For small business value, your family includes (1) persons directly related to you, such as a parent, sister or cousin, or (2) persons who are or were related to you by marriage, such as a spouse, stepparent or sister-in-law.

Investment farm value does not include the value of a family farm that your (or your spouse and/or your parents) live on and operate.

Instructions

  1. Please select the appropriate aid year's form below and follow the instructions provided on the form.
  2. Submit the form to Financial Aid and Scholarship Services.
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