I am a single mom with an EFC of 0. Would part ownership in a home with my boyfriend affect my son’s FAFSA in a negative way? Currently BF owns the home, but I would sell mine and then have the correct legal documents drawn up to reinvest my equity into his home for part ownership. Are there other issues surrounding this that I should consider? (Like, having some of the bills in my name or could I just be contributing toward them?)
Thank you so much for any advice!
It shouldn’t affect the FAFSA-based awards if it is your primary residence.
Do I think it’s a good idea? No.