Does Life Insurance Affect FAFSA?

  1. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Actually cash value life insurance does not effect FASFA. One of the few things that isn't asked for when determining a family's ability to pay towards a child's college tuition costs. Speaking as a father of two college students, I can't tell you how pleasant it was not to have to disclose cash values when completng the FASFA online. Another hidden benefit of cash values.
    Answered on April 13, 2013
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  2. 4470 POINTS
    Brandon Roberts
    Owner, The Insurance Pro Blog,
    No life insurance does not presently affect FAFSA, neither death benefits in place nor cash values held in either whole or universal life insurance. 

    These values are not included in the FAFSA calculation for expected family contribution. 
    Answered on August 30, 2013
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