<p>I'm waiting on my financial aid packet at a private school in CA that uses both FAFSA and CSS Profile. If my family has a home equity value of around 150,000, is that a lot and will that effect my aid package? My family has an EFC of $0 on FAFSA and makes around $40,000 a year. They bought the house around 15 years ago and paid off all the mortgages over the years. How much does this impact, if at all?</p>
<p>Thanks!</p>
<p>I have read in some posts that if the school uses CCC, 20% of home equity is concidered avalable after protecting a certain amount of assets. The formula for how much of the assets varies by parent age and other factors. It is not real high. Around 50K I think.</p>
<p>Schools that use Profile vary in the way they consider home equity. They each can have their own formula.</p>
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