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College and University Discussion
Reply to "Financial aid is a scam"
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[quote=Anonymous]So income factors into this highly, but what about expenses? Lets say your income is substantial, your house is worth 1 mil or more, but you have little equity in the house and a high mortgage payment. You also have car payments for expensive, newer model cars. And a lake or beach house (also mortgaged). Compare that to a family with the same income with a modest house that is paid off, so no mortgage payment, and no car payments, either, because they have older cars that are also paid off. The first family demonstrates more need on paper so likely has less EFC but lives much "larger" by choice than family #2. [/quote]
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