Does a HSA Count on Your FAFSA?

When it comes to filling out the Free Application for Federal Student Aid (FAFSA), many students wonder if a Health Savings Account (HSA) impacts their eligibility for financial aid. The good news is that having a HSA typically does not significantly affect your FAFSA application.

Here are some key points to consider:

• HSAs are considered assets, not income, on the FAFSA form.
• Having a HSA will not impact your Expected Family Contribution (EFC).
• Money in your HSA is not counted as income for financial aid purposes.
• Contributions to your HSA are made with pre-tax dollars, so they do not show up as untaxed income on the FAFSA.

Overall, having a HSA is a smart way to save for medical expenses while still maintaining your eligibility for financial aid. It's important to accurately report your assets on the FAFSA, including your HSA balance, to ensure that you receive the appropriate amount of aid.

Are you filling out the FAFSA? You might be curious about whether your Health Savings Account (HSA) will affect your eligibility for financial aid. Fortunately, the short answer is no! A HSA generally does not hinder your chances of receiving aid.