<p>I already filed and turned in my FAFSA.</p>
<p>However, my parents are looking at 100k in debt right now and they are considering refinancing the house to pay back the debt and put a little more in savings.</p>
<p>How will this change affect my FAFSA? I desperatly need aid and Im worried I wont get enough with this change.</p>
<p>I’m not sure it will change your financial situation per FAFSA at all. The FAFSA does not consider debt of any kind…not your primary residence and not consumer debt. If your parents had done this BEFORE you submitted your FAFSA and had put the money in a regular bank account, it would have counted as an asset and would NOT have worked in your favor.</p>
<p>We’ve refinanced during our kids college educations and it hasn’t made any difference whatsoever.</p>