<p>You have gotten good advice here. I would be leary of the “financial” finagling that is being suggested. You mention rental properties. Those properties will be a double whammy…the equity in those properties will be counted as an asset…and the rental income as income…on both the FAFSA and Profile. You don’t mention your incomes, but if your income is fairly high, the amount of your assets may not matter that much anyway. The FAFSA EFC is largely based on income.</p>
<p>I would be asking that college consultant to help you identify schools where your child might qualify for substantial merit aid (without a need component). Search here for the thread by momfromtexas who found very fine merit awards for her kiddos.</p>