Is this correct? Financial aid questions.

goaliedad
Fri, 25 Apr 2008 20:33:15 +0000

ohio_mom,

Do you know if the HELOC exclusion from Profile consideration applies during the whole term (both the accumulation AND the payoff period) or just during the accumulation period?

I’m glad you mentioned that (I wasn’t aware that there was a difference in treatment as like a conventional mortgage it is secured by your home - I guess they consider it like revolving credit because it is not a fixed amount to be depreciated) exception.

I guess if you take on a HELOC late in college process (after you file for the Senior Collegiate year aid 1/2 way through the Junior Collegiate year) it won’t impact any future award, so I would say that is the preferrable time to consider going HELOC.

Thanks again.