I know that Princeton ignores the equity of your primary home when considering financial aid, but in my family we rent our primary home, and my stepmother owns a small apartment (it’s being rented and I think it’s worth about $300,000). Does anyone know whether Princeton would ignore the equity of the apartment given that we don’t own any other real estate?
What property do you actually live in?
A rented house - my father is an expat, from Britain, but my stepmother is American and she owns the apartment in America.
If you live in a rented house, it’s a good bet that any equity you or your parents have in property that you own will be considered for financial aid. The rental house that you live in will be considered your “primary home.” And rental income that is received will need to be reported for financial aid purposes.
Ok thanks for the help
Yes, we are in the same positions (expats not living in our main property.) Unfortunately, our main property will be considered as an “investment asset” and will be considered for financial aid purposes.
That’s a shame - does the fact that you don’t own your main home help at all? Thanks for the help.
No, it does not