<p>My family income is ~30k but we live in a townhouse worth ~400k. Although we still have the burden of mortgage, would having these assets be considered too high for QB standards? In other words, would I be unqualified for QB because of my family's assets?</p>
<p>(also, what would the general assets be for QB applicants?)</p>
<p>Maryleanne, QB just specifies ‘average assets’ for the family income. How your townhouse is considered as an asset depends on how much has been paid on the house and how much is still owed. Your family doesn’t own that house until it’s paid off. You’ll be fine for the QB application. Where these numbers actually matter is when colleges are calculating your aid. Many/most QB partner schools place a cap for low income families on how much of the value of home equity they consider - it’s usually proportional to family income and rarely exceeds 2.4 x income. If your family hasn’t paid off most of the 400K, it won’t be an issue anyway. </p>
<p>thanks!</p>