Note that you would not be expected to use the entire amount toward college. You’d be expected to use about 5% of your parents’ assets per year. If I were in your position, I’d also ask for professional judgment. Your parent would have to write a letter explaining that the $360k is from the recent sale of a home, that you’ve always had difficult circumstances as a low-income family, and that you expect to purchase another home (if that’s true). It may or may not work.