How To Answer Parent Asset Questions For CSS Profile®

Parent Asset Information

Similar to the FAFSA, the CSS Profile asks about parent assets.

It's important that you only report Parent Assets in this section, not student assets. Also, you should be providing the value of the asset today.

How To Answer These Questions

Fill in the dollar amount of the asset as of the day you submit the CSS Profile.

Current amount in cash, savings, checking, and deposit accounts.

Enter the dollar amount in you have in physical cash, checking, or savings.

Do you have investments?

Answer "Yes" if you, as the parent, own: stocks, stock options, bonds, savings bonds, mutual funds, money market funds, certifications of deposit, non-retirement annuities, trust funds, commodities, precious metals, land sale contracts, collectibles and valuables, 529 college savings plans.

Do you own a farm or part of a farm?

Answer "Yes" if you own a farm.

Do you own assets that are held in the same of their children?

Answer "Yes" if there are parent assets that, although held in a dependent child's name, are owned by the parent - such as UGMA accounts or other investments.

Enter the current market value of your investments.

This should be a dollar amount of the current market value of stocks, stock options, bonds, savings bonds, mutual funds, money market funds, certifications of deposit, non-retirement annuities, trust funds, commodities, precious metals, land sale contracts, collectibles and valuables, 529 college savings plans.

Enter the current market value of assets held in the names of their children.

This should be the market value of accounts owned for dependents, such as UGMA accounts.

Enter the number of real estate properties.

Enter the number of real estate properties that are NOT your primary residence.

If you have real estate properties:

You'll be asked to provide the address and current market value of the property, along with the amount owned on the property. You also will be asked the number of months the property was rented to others, the year the property was purchased, and the purchase price.

You can provide a fair market value that adjusts for the current condition for the property.

Enter the number of businesses owned or operated.

Enter the number of businesses you own or operate.

If you have a business

You'll be asked to provide the name and address of the business, along with the type of business, and primary product or service. You'll also need the date the business was started.

You'll then be asked to value the business and provide percentages of ownership. For the market value of the business, provide the current market value. If there are partners, enter the parents' portion of the value only. 

You'll also be required to pull information from your tax return, including the Gross Profit or Loss, Total Expenses, and Wages. This should all be pro-rated for just the parents' portion of the business if there are partners.

There is a final box to explain special circumstances, and allows for you to explain changes to the business.

Can I Skip These Questions?

No, they are required.