<p>Consumer debt is not considered in the financial,aid formula. This includes credit cards, car payments, department store credit cards, actually, any consumer debt. It’s just not considered in the financial aid formulas.</p>
<p>Like I said upstream, the amount owed on the mortgage is used to compute the equity you have in your home, or any other real estate. But that’s it. The amount you are actually paying for your mortgage isn’t considered at all.</p>