Does a cash-out mortgage refinance count as income?

Paying for College
1

I’m interested in whether refinancing a house and ‘walking away with a check’ would result in that check showing up on a CSS/PROFILE as income. Googling is not giving me anything definitive. Anyone have any experience with this?

Please no lectures about increasing a mortgage – we’re not talking about financing 50k of tuition.

Thank you!

2

Where are you putting this cash asset?

3

Could be several places but nothing that would show up as a large tangible asset in the end – possibly paying off some medical bills, buying a few computers for my daughters before they go to college, that kind of thing.

4

Not income, but asset if unspent.

5

Thank you very much!