Incredible Home Equity Financial Aid References. Does a home equity loan affect your eligibility for college financial aid? Thus, if you had $400,000 in home equity, the school’s calculation would only.

So if a family has $500,000 in home equity, the css profile formula would reduce financial aid. The free application for federal student aid or fafsa, which state schools use for financial aid purposes, doesn’t even ask families if they own houses. Compare & get the lowest rates!