FAFSA, CCS, you loans and your savings

momsearcheng
Sun, 15 Sep 2019 05:06:08 +0000

Can someone who has experience with aid make suggestion what to do.
We do not expect much Financial Aid from public schools, but I am not sure how private college aid work.
We are definitely not eligible for federal help and do not expect one.
I am not very much familiar with CCS.
If family is making within 200K with 3 kids (at some point all 3 will be in college) what should we do in the following scenario?
Have about 55K not paid for a house loan( very low interest rate)
Have about 15k unpaid for car (0% rate)
Do not have any college plans.
Have some savings.
Have significant 401K.
Should consider to pay off house and car before filling FAFSA and CCS to reduce “savings”?
If child applies to private schools, will the child have a chance for any aid?
No matter how “rich” we are on papers, we cannot afford full pay private…
Will stick with in-state school if will not get merit aid.