by Shannon Vasconcelos, former financial aid officer at Tufts University
How Home Equity and Other Assets Affect Financial Aid
With college costs at an all-time high, it is no wonder that parents are looking for ways to increase their financial aid eligibility. There is a lot of advice flying around the rumor mill about ways to get more financial aid—some of it true, a lot of it false, and much based in kernels of truth. Among these questionable pieces of advice is the common refrain that you ought to pay off your house in order to get more financial aid.