<p>Assets are taxed at one percentage. Income another. There are many exclusions, adjustments, and allowances that go into figuring what assets and what income are included. </p>
<p>Home equity is considered an asset just like cash in a shoebox. Even though home equity is much less accessible than cash. And even though on the coasts modest family homes are much more expensive than in between.</p>
<p>So whether home equity ups your EFC or something else does depends on what you have to start with. All assets are taxed the same.</p>
<p>I don’t know what you mean by military benefits. If you mean military retirement checks, then yes that is income. Discounts at the Base Exchange, not.</p>
<p>I will say this: It is a recurring, frequent and constant theme on CC that people are shocked to find out how much the FA formulae think they should pay for their kids’ educations. If you haven’t done your homework and know the formulae, get ready to be shocked.</p>