<p>I believe that some Us also look at your equity in your home as an asset, so that might also “count against you” in FAid. Your acccountant or tax advisor might be able to help advise you about this issue, especially tax aspects (while mortgage interest remains deductible).</p>
<p>We did not apply for FAid because we had done it once when our kids were applying to private school years ago & we had a lower income & the form that was processed said our family contribution would be most of our take home pay!</p>
<p>Since your mom has had financial setbacks, it probably would be more protective of her if she does not have assets in her name, but check your situation out with your accountant, tax advisor and/or attorney.</p>