<p>If you can afford a 400k home, chances are that your income is high enough that you won’t be eligible for all that much need-based financial aid in the first place. Print out the formula and run your numbers through it to find out: <a href=“http://www.ifap.ed.gov/efcformulaguide/attachments/082511EFCFormulaGuide1213.pdf[/url]”>http://www.ifap.ed.gov/efcformulaguide/attachments/082511EFCFormulaGuide1213.pdf</a></p>
<p>Why would you want to exchange a big mortgage payment, big taxes, and very likely big maintenance costs just to have a small chance of getting better need-based aid? Doesn’t it just make more sense to come up with a figure (say 20k each year for four years), tell your kid that that is his/her limit, and spend down part of your lotto winnings on your kid’s education?</p>