Getting ready to buy a house
If you're in the market and wondering you to manage the timing of your home purchase and FAFSA filing, you'll be pleased to know that buying now will likely help you when it comes to getting money for college. In determining your need-based aid, any money you currently have set aside for your down payment and closing costs would be used to reduce the amount of aid awarded. Putting it into a home improves your financial picture, at least in terms of the amount of help you can get for college.
The FAFSA has questions that "ask about how much cash students and parents have in savings and checking accounts at the moment you are filling out the FAFSA," said TIME Money. "But notice that there are no questions on the FAFSA about your debts or bills." That means that sheltering your money in real estate, so long as that real estate is the only property you own and you intend to live in it, is a smart move.
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