security deposit accounts and FAFSA

[Lynnette E.]

I filled out the federal student aid for my two seventeen year olds to attend TN CAT.  They only qualified for loans.

I am guessing that it is because my bank accounts are too high.  Last year I actually paid ZERO in federal income taxes, better than Trump!

How do others account for funds in bank accounts such as the security deposits? Yes, they are in my name and I claim the interest (all13 cents) on my federal taxes, but its not like I can actually use it to pay for their education. Also with the CAPEX and maintenance funds. I keep these funds in separate accounts and do not mingle them with 'my' personal spending. But as far as the government knows looking at the accounts they are in my name.

So, it is just a sorry fact of life that my kids will not qualify for any financial aid or is there something I do not know about filling out the applications?  I definitely do NOT want to not declare the money as that would be criminal and the government is spending a lot of time investigating college fraud.