<p>I sold my second home, and my capital gain was 9000. would my son still will qualify for fafsa. I am 58 year old and iI have in the bank 19,000. we are a family of 4. between my son and I we just make 13, 800 for the year. My wife is in social security dissability which is only 825 a month. Do the fafsa just count the capital gain or go by the money i sold it which was only 62,000, But with all the repairs and all the real state expenses my capital game was really low. I live in nj and my son is planning to go to a community college. Thank you for any help I will appreciate it.</p>
<p>FAFSA is only a form to allow students to qualify for Federal Financial Aid. Any US student in college can file the FAFSA. FAFSA uses information from your federal taxes which would look at the capital gain. It looks like your son might be eligible for a Pell Grant and also a Stafford Loan.</p>
<p>In what year did you sell the home and when will your son be starting college? The capital gains will add to your fafsa income for the school year beginning in fall of the year following the year you sold it. Your savings are below the savings allowance so won’t affect aid from fafsa at all.</p>
<p>How much do you and your wife earn together (not counting son’s income)? </p>
<p>Any American can file FAFSA, so don’t worry about it. It sounds like your EFC will still be low.</p>
<p>I sold the house this year, and my son will start college next year. Thank you for your help</p>
<p>I made only 9800 and my wife only 825 a month social security dissability. Thank you for your help</p>