<p>Hi. I'm a very low income student (8k/year) with a high home equity. My family's house is valued at around $400K, and there is no mortgage. </p>
<p>I'm aware that the EFC doesn't include home equity, but the CSS profile does. How do the Ivy League schools use home equity in their financial aid calculations? </p>
<p>I plan to do an individual search on their websites, but I was hoping for a general idea. Which of the Ivies and other top schools disregard home equity? Assuming acceptance, is there any chance I can get a full ride (room+board) at a top school?</p>
<p>How do the universities confirm home equity price by the way? I.e. how would they know if your house is worth say $400k, when in fact it may be worth $600k?</p>
<p>Is it enough to get a local realtor to value your house at $400k and they’ll take that word (if the realtor sends a letter with the CSS profile)?</p>
<p>I think that most colleges do not include the value of the property that is your residence, but any business property, vacation property, or rental property that your family owns would be considered. Others can confirm, but that is my understanding.</p>
<p>Actually, I think most Profile colleges DO consider the value of the family’s home, although the way in which they consider it probably varies a lot. I believe Harvard is practically unique in not looking at it at all (although if other colleges match Harvard for cross-admits, effectively they may wind up doing the same thing for some students). Most colleges will view home equity as something that would support borrowing to pay for college, but of course that would depend on ability to repay the loan from future income. I doubt anyone takes the position that a family with limited income potential must sell its home to pay for Junior’s college.</p>