<p>^^^^ Exactly. FAFSA and CSS try to differentiate between necessary and discretionary expenses/debt. Owning a home (emphasis one or the first home) is considered as necessary and acceptable and hence mortgage or rent payments are considered OK and the mortgage payments show up on FAFSA. FAFSA does not even consider the equity in the first home if owner occupied. On the other hand if you had a credit card debt of $15000 paying of that vacation in Tahiti, that expense was considered discretionary and will not qualify you for consideration even though you may be paying 2% per month or $300 in credit card payments. There could be exceptions like medical expenses and for that you would have to ask for special consideration with proper documentation.</p>
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<p>I’m confused by this…where on the FAFSA does the mortgage payment “show up” for your primary residence? It’s not there. The FAFSA asks for NO information about your primary residence…no mortgage, no value…nada.</p>
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Mortgage payments do not show up on FAFSA.</p>
<p>My mistake.</p>
<p>What I meant was that FAFSA does not consider the asset value of the first home, i.e. the equity in the primary residence. </p>
<p>I stand corrected, the mortgage payment is not required for FAFSA</p>