What effect can recently bought house can have?

Paying for College
1

<p>Hello :)</p>

<p>My family situation is following: father neglected us 14 years ago. Mother has been working since that time, but 4 years ago she became ill and worked only part-time(so earning very little money-1000 $ in a year). Beside my mother's income our grandmother helped us with her pension(around 500 $ in a year). I also worked for 4 years, but this year i was not able to do it.
We saved money for a long time and this year brought a house( which cost 30 k $ ).</p>

<p>I am interested,how the purchase of the house will affect my financial aid ?</p>

2

<p>Are you a US resident? For FAFSA it won’t affect your FA at all. For CSS Profile schools I believe most exempt the home in which you live.</p>

3

<p>I am international student.</p>

<p>So, should i clarify that it was bought from savings,etc?</p>

4

<p>No need to clarify that at all. You state your assets as of the day you file that info.</p>

5

<p>But they ask when we bought the house</p>

6

<p>Just answer the questions. Give them the date you bought the house. </p>

<p>Since you are an international student, no FAFSA can be done…just the Profile and whatever else you colleges require. </p>

<p>All you can do is answer the questions honestly.</p>