Excluding Real Estate Equity for EFC Calculation

brantly
Tue, 20 Dec 2022 06:11:21 +0000

The financial aid system looks at the totality of what you have. What you plan to do with your assets (with the exception of qualified retirement accounts) is not factored into the equation except in special circumstances (excessive medical bills, home disaster). Maybe another family wants FA so they can keep their income-producing $550k that they intend to use for retirement – but it’s in a non-retirement-qualified mutual fund. You have a non-qualified retirement asset. The other family has a non-qualified retirement asset.

Instead of demanding that certain colleges change their ways for you, you’d have better success finding the colleges that already fit your financial situation. I’m sure there are hundreds.

Besides, how much FA do you think you can get? What colleges is your son considering? Have you done the net price calculators? There may not be as much aid available as you think there is, even if you did not own an income-producing second home