<p>Hm. That can be tricky depending on how your family has set the basis for its capital assets – if they’re selling things at a profit then yes, the IRS (and FAFSA) are probably going to count those as assets. If they’re selling them at a loss or at break-even because they need the liquidity, then the IRS isn’t going to consider it income, and I believe FAFSA will follow that.</p>
<p>Anyway, the folks above chatting about King’s seem to be NY locals who know more about it than I do.</p>
<p>If I were in your shoes I’d take a year off and work at some kind of character building job.</p>
<p>I wrote the following a little while ago to a pre-law student:
</p>
<p><a href=“http://talk.collegeconfidential.com/law-school/1099929-what-do-summer-after-junior-year.html[/url]”>http://talk.collegeconfidential.com/law-school/1099929-what-do-summer-after-junior-year.html</a></p>