<p>Hi guys! </p>
<p>I just have a curiosity...in filling out the CSS Profile, how much does the value of your home factor in to how much financial aid you're eligible for? Or how much you currently owe on your home? </p>
<p>My family lives in an upper-middle class neighborhood, and our home is worth a considerable amount. My parents own no other real estate. We paid about half of what it is worth now, but owe about 100k more than we originally paid for it. I know real estate is an asset, but how much does the amount we owe factor in? </p>
<p>I'm just generally confused as to how they look at real estate when figuring out your financial aid. :) </p>
<p>Thanks!</p>
<p>Well, that's fun...haha. That means our house adds about 8k a year to my EFC. </p>
<p>Thank you for your help!</p>
<p>I deleted my post because it was worded wrong. The amount of equity is used in a formula, it doesn't get directly added to the EFC</p>
<p>equity is How much you can sell it for - how much you owe (I put OWN before)</p>
<p>Hollylove, the %age of home equity used in computing financial aid by the Profile schools VARIES wildly from school to school. Some schools cap the %age of home equity and those caps vary. So...it is very difficult to say just what effect home equity will have on your financial aid without knowing your college(s) specific policies on that.</p>