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Can A Student That Gets 100% Financial Aid For College Own A Home?

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Can A Student That Gets 100% Financial Aid For College Own A Home?

Postby Atu » Tue Oct 10, 2017 11:28 am

I would like to know if a student that gets 100% of financial aid for college can own a home. I also get food stamps and medicaid with insurance for my son and I .. I basically have free insurance, food stamps and go to college for free. I also have a full time job which becomes part time when I am in school ... Can a home be under my name and I still receive my financial aid? Or would they take that away as well as my medical insurance?
Atu
 
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Can A Student That Gets 100% Financial Aid For College Own A Home?

Postby Hanlon » Tue Oct 10, 2017 12:26 pm

Yes, it is possible to own a home and receive the maximum amount of federal student aid.
The value of the home you reside in is not included on the FAFSA, so it is not taken into consideration when calculating your eligibility for aid.


If you plan to attend a college which uses the CSS Profile, you will have to include the value of your home, but you would also be able to list debts against it, such as a mortgage.
Only about 600 schools in the country use this form, but most schools that cover 100% of need are on that list.
If using the Profile creates a problem for you, you may want to consider one of the thousands of excellent schools that do not use the it.
Hanlon
 
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Can A Student That Gets 100% Financial Aid For College Own A Home?

Postby Syvwkh » Wed Oct 11, 2017 1:04 am

I understand the position you're coming from yet... lots of the time the money those human beings "pocket" are truly loans. the most loose money (supplies) you'll get from economic help is 5500 from the pell furnish. and that is for an finished 365 days.... so divide that through two semesters. it is not any longer a good purchase of money. something of the money comes from loans. So yeah, those human beings do have some money left over yet they're truly getting screwed over because they're going to graduate with loads of debt.
Syvwkh
 
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Can A Student That Gets 100% Financial Aid For College Own A Home?

Postby Ichabod » Wed Oct 11, 2017 3:24 am

I agree with carnac. Just think there are people who are really struggling and cant get help. How are you getting all that help, anyhow? Something doesnt sound right!!!
Ichabod
 
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