Financial Aid Question?
As a student, I need financial need specifically from the aid that the government provides in terms of education. If I had a real estate property that was left under my name, but does not receive any form of income and mortgages are fully paid for, will it the hinder the amount of Cal grant money I will receive? Worst case, will I not be able to receive any form of financial need if they I have a real estate property under my name?
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Verified answer
Every situation is different. Your best friend at this time is the financial aid counselor at the college you intend on going to. He/she is required to know all the rules for financial aid for your state.
I always recommend the following article to my friends who ask about scholarships. A high school counselor advises on careers, colleges, and financial aid.
http://www.examiner.com/public-schools-in-fort-wor...
The property is considered an asset and thus is part of your income.
If you own a $50,000 property, why should you get the same breaks that someone who doesn't have that property would?