We Are Farmers and We Live on Our Farm. Do We Report the Value of the Farm on the FAFSA?
If you live on your farm and you farm the land, it is considered a family farm and doesn't need to be reported on the FAFSA (you do not need to include the value of land, buildings, machinery, equipment or livestock, etc.). Farmland that you own but is farmed or rented by someone else would be considered an investment farm, and the net worth would be reported on the FAFSA. If you have a question regarding whether or not your farm is a family farm, contact the financial aid office at your college.