<p>It might lower your EFC. The problem is, a lower EFC does not necessarily equate to more aid. And at schools that pledge to meet need, the equity in the home is considered to be an asset that can be borrowed against to pay for school.</p>
<p>As for why people would purchase a larger/more expensive home when college rolls around, there are many reasons. Any reason is legitimate. What is not right is when someone buys a great big expensive house & then expects schools to give them aid because they don’t have any money. But the truth is, the vast majority of people wouldn’t do that (it only seems like there are more who would, because this is CC!).</p>