DVC and college financial aid

[OneMoreTry]

Another thread got me thinking of this.

For those of you with kids in college: Did you list DVC as an asset when you applied for their financial aid? How did you value it? The price you paid? $75per point?

 

[DrTomorrow]

This was just discussed a month or so ago; too lazy to find the thread. IIRC, someone called the financial aid form people and it is an asset....

 

[wtpclc]

Here's the thread in question. HIH!FAF Thread

 

[OneMoreTry]

Well I think I'll list is at the $60 per point I paid, but that's not for another 2 years. Maybe it'll be worth less than that by then.

 

[Alphatexana]

Well I think I'll list is at the $60 per point I paid, but that's not for another 2 years. Maybe it'll be worth less than that by then.

While you should probably discuss this with your CPA, it might be reasonable for you to look online at one of the timeshare reseller websites and see what numbers they are using for listing prices. Might see that the price has changed a little.

Good luck.

Chris

 

[MiaSRN62]

I was the OP of the other thread.
I did end up listing it as an assest. I put down what it's worth today, less what we still owe on it. This is what the second person at the FAFSA phone number suggested when I pressed the question. The first person I spoke with there didn't seem to know what to do.

 

[Cruelladeville]

When I filled out the FAFSA I didn't list DVC at all, since Disney does not report to any credit agencies, as long as you stay current on payments, which we did. My thinking was, who's going to tell them about DVC if I don't? No one. It never showed up on anything from 1995-2003. That was probably a good thing, since 3 of us were in college at nearly $45,000 per year, and we got no financial aid. Using their logic, I figured that if DVC showed up as an asset they would probably use that to make me pay for somebody else's kids on top of paying for my own! We lived on credit cards one year just to pay tuition, which was HARD.

 

[Towncrier]

Bump for all those people who are filling out the 2006/2007 FAFSA forms. I feel your pain.