Grandparent lives in 2nd home

kelsmom
Fri, 13 Nov 2020 18:25:54 +0000

The second house will be reported on the FAFSA as a parent asset. The reportable value is market value less any mortgage/home equity loans on the home.

For federal aid purposes, the costs associated with caring for an elderly parent will not be a factor. If you provide at least 51% of her support (be sure to attribute her SS payment as being part of her share), you can include her in the household size.