Hi! I am currently a junior at UCI paying in-state tuition.
A little background info:
My parents recently divorced and my siblings and I are claimed as dependents of my dad, who is American citizen.
My mom wants to buy a house for my siblings and I, since we are living in the states by ourselves, and I was wondering if putting it under my name will affect my chances of financial aid. My mom is not a US citizen.
My sister is still in high school and still has many years to go until she graduates from college, but my dad is already semi-retired, so very low-income. We were thinking it would make more sense for us to buy a house than to pay 7 more years of monthly rent. It would also make more sense than having my mom pay for my siblings’ tuition because at least a house we can get the money back in the end.
But yeah, in general, will buying a house affect my chance of financial aid?