<p>What you have to do is play with the NPCs and find out which ones cap your primary home value if that is high. Sometimes if you call the financial aid office of a school, they might tell you what their caps are for that. If you have an annual income of say $75K and a home worth $500K net, a school that caps at income level is going to hit you up less on that asset alone than one that has no cap. Some school cap at 1.2X, some at 2.4 X, some not at all. </p>
<p>Some PROFILE schools will use different formulas for student assets , and some track those assets from day one, so it’s wise for the student to have little or no assets, for that 20% FAFSA hit and maybe more for PROFILE. As MLM notes that deductions and depreciations taken on income property are often added right back to AGI.</p>