College Confidential - View Single Post - Is financial aid based primarily on income or savings?

swimcatsmom · 11-09-2008, 07:09 PM

FAFSA does not count the value of the primary home at all so will take into account the earnings and the savings (though there is a protected asset allowance based on number of parents and age of the older one so as low as they are they will not have an effect). However an income of $160k is high enough that you will not qualify for federal grant income though may qualify for loans depending on the cost of your school.

Some schools also use CSS profile or their own financial aid forms to award institutional aid. They do ask for the value of your primary home though each school will have their own formula for how that value will be treated.

11-09-2008, 07:09 PM	#3
swimcatsmom Senior Member Join Date: Apr 2006 Posts: 5,749	FAFSA does not count the value of the primary home at all so will take into account the earnings and the savings (though there is a protected asset allowance based on number of parents and age of the older one so as low as they are they will not have an effect). However an income of $160k is high enough that you will not qualify for federal grant income though may qualify for loans depending on the cost of your school. Some schools also use CSS profile or their own financial aid forms to award institutional aid. They do ask for the value of your primary home though each school will have their own formula for how that value will be treated. Last edited by swimcatsmom; 11-09-2008 at 07:11 PM. Reason: xposted with vball
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