Pay off mortgage?

oregonianmom
Fri, 23 Jan 2009 23:47:14 +0000

My D is a sophomore in HS. Does it make any sense, from a financial aid standpoint, to pay down (or completely pay off) the mortgage on our home with funds from our savings? She is interested in private LACs, and I’m thinking all or most will use the CSS/PROFILE or their own forms.

A couple of years ago I was sure that we wouldn’t qualify for financial aid, but now with older son in college, plus our investments having taken a big hit, we just might.