My situation is similar to yours. You didn't mention, but the forms also ask what you have saved up. Now we are reasonable folks that try to have at least six months' income saved in quick-access cash. That means in the end the last three (used) cars have been paid for in cash. And no debt beyond our house.
We have one not-quite-big screen TV. But not all the latest toys. We live rather modestly. Cheaper cell phones. No cable TV. Frugal.
What do we get out of that? Nope, no financial aid. But our son's friends? The ones with new cars and multiple big screen TVs, but nothing in their savings accounts? Yup, tons of grants.
This country is so backwards, rewarding those that are fools and penalizing those that are self sufficient. Sometimes I think I am the fool.
You and me both. I don't get it -- those of us who are responsible and do what we SHOULD DO in providing for our families, don't live beyond our means (we live a very modest lifestyle, very modest home, drive older cars, don't run up debt) and we save for our future yet we're the ones DENIED the benefits of living responsibly!
Makes you say WTF?!
My charming and delightful wife keeps reminding me that we live debt free and don't have to worry about financing our "lifestyle" and that neither one of us would want that kind of debt hanging over our heads that so many of our friends have.
Part of me knows she's right, the other part of me just keeps asking "why don't I just live it up like they do and not give a damn?"
On a happier note, my oldest son just this afternoon got his acceptance letter from Western Illinois University -- one of the top universities in the country for Law Enforcement. Amidst the celebration that we'll have here tonight when he gets home and finds out he was accepted at his #1 choice will be his mother and I starting to figure out how we're going to help him pay for college.