<p>I have $100,000 credit of my house and unemployed for one year. I’m planning to use this credit to buy a small business, will it effect the kid application for FA this fall?
I have few saving and low-middle family income though.
Many thanks.</p>
<p>A small business with less than 100 employees is not counted as an asset on FAFSA, but it will be one for CSS Profile.</p>
<p>However, your line of credit will also reduce your home equity on Profile</p>
<p>A small business with less than 100 employees is not counted as an asset on FAFSA, but it will be one for CSS Profile.</p>
<p>However, your line of credit will also reduce your home equity on Profile </p>
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<p>Thank you Somemom.</p>
<p>The business is selling. I do need start a business as a job. I 'm not sure that can I use line of credit to buy a business would rather than pay the kid education?
My family owns one house only. Kid can not go to private school without FA.</p>