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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP - call the financial aid office of the school (s) you are interested in to find out how they calculate financial aid for your specific situation. And if you don't like the answer, move on.

Nothing in life is fair. I'd rather be in your position (of having significant equity in my home) than that of a family who has rented their entire lives in a squalid apartment because they can't afford a home of their own. Do you think you deserve more financial aid than they do?[/quote]

Of course I don’t think I deserve that.  I would assume that family has lower income than mine, since my income would stretch to renting a decent apartment.  I would like to think that my kid deserves the same opportunity as a family of a similar size with a similar income and similar savings who is doesn’t face an emergency situation that requires them to live outside their home.  [/quote]
Most schools will also take into consideration other expenses as well as assets. So for example if a family is facing a medical situation where they have to move to be near a treatment center, they can report all those medical expenses. If you’re not sure how to handle your situation, call the school and explain it. If you are facing a true emergency situation, schools can help you navigate how to explain that and take it into consideration. No guarantee, of course, because the house is still an asset that could be sold but you are choosing not to. But talk to the school, not DCUM. We don’t know the specifics of your “emergency” or how a given school might adjust for it. [/quote]

Every family that has equity in their home could sell it to pay for college.[/quote]

They should have a limit to around $400-500K.  If you choose a more expensive home, you should not get financial aid over some who chooses to live more modestly.[/quote]
$400-500k at what point? Our home in ffx co has gone up 40% in value since we bought it more than 15 years ago. We could not afford to buy it now. So do we get dinged for the housing market when we actually made a frugal choice? [/quote]

400-500K 15 years ago was a lot of money.[/quote]

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