Does Harvard use your home for financial aid?

Colleges and Universities A-Z Harvard University
1

<p>Hello,
I live only with my mother, who owns a $300,000 home. I hear that Harvard and other schools expect parents to refinance to pay for school. What if my mother's income is too low for her to refinance? Will they not take our home into account? Your help is greatly appreciated.</p>

2

<p><a href="http://www.oakwoodgroup.com/28elite.html%5B/url%5D"&gt;http://www.oakwoodgroup.com/28elite.html&lt;/a&gt;&lt;/p>

<p><a href="http://www.fao.fas.harvard.edu/fact_sheet.htm%5B/url%5D"&gt;http://www.fao.fas.harvard.edu/fact_sheet.htm&lt;/a&gt;&lt;/p>

<p>I believe Harvard gives full aid with zero loans for those whose income is under $40,000. This probably is regardless of equity.</p>

3

<p>My family will have 3 kids in college at the same time, sister a at a state school, brother at a private school and me, hopefully at Harvard with a good grant and aid package.</p>

<p>I believe the 40, 000 in income is the determining factor, not existing assets i.e. your mom's home.</p>

4

<p>Harvard and Princeton aren't supposed to consider the value of your home. They're pioneers in finaid. My guidance counselor told me that, and I trust it. It didn't make me apply to Princeton or Harvard, though. :-( :-)</p>