Will a new house cause me to lose scholarships?

@xxluvforeverxx yes, it appears that you aren’t aware of the details. And that’s understandable. Parents don’t often share the nitty-gritty.

Frankly, it kind of sounds like your parents may take a “draw” of $2k per month (after taxes) for y’all to live on. If so, that’s not the same as having an income of less than $24. Their car or cars may be “owned” by the business…same with cell phones, computers, etc.

However, they should have provided you a bit more info, or at least said, “honey, you’re not going to qualify for as much as aid as we’d like because of our savings, assets, and the restaurant business,” so that you wouldn’t be pursuing a path that likely will not work out unless your parents are willing to pay for a good bit of your education.

So, if you want to apply to some prestigious schools, fine. But be sure to explain to your parents that for you to get aid they will have to provide EXTENSIVE information about the business and other assets. They may refuse to do that.

If your parents look over the CSS forms and decide that they won’t fill those out or if they realize that you won’t get much aid, then you need to know that now so that you can apply to schools that will be affordable thru assured merit or whatever.

CSS Profile schools require FA forms that go into a tremendous detail and require documentation.