Does purchasing a home decrease the eligibility of financial aid for college?

Hey world! I am a college student who wants to purchase a home in 2010. Reason being, I’m tired of renting a tiny apartment. Would this decrease the eligibility for financial aid?

Only your Financial Aid Department knows for sure.
Call and ask, they have all the details.

I’m pretty certain that if you’re paying with your own earnings, you won’t qualify – obviously you can afford classes if you’re able to pay for a house. Then, again, if it’s your meager earnings and loans… mmmaybe that’s workable within the guidelines
Also, if you’re using an inheritance, you may qualify for aid.

When I was in college, the Financial Aid office was more than helpful in analyzing my situation.

Best wishes!

This entry was posted on Sunday, September 13th, 2009 at 9:16 am and is filed under College Aid. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

6 Responses to “Does purchasing a home decrease the eligibility of financial aid for college?”

peacedude/ette Says:
September 13th, 2009 at 2:46 pm

dont think so
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Do You Have The Funk? Says:
September 13th, 2009 at 3:32 pm

If you own it, yes. Instead work out a deal for rent to own. then it won’t.
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mis Says:
September 13th, 2009 at 4:02 pm

You would be eligible for loans but not grants.
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r_a_i_n_m_a_n_5_9 Says:
September 13th, 2009 at 4:15 pm

First off it sounds like you are in a good position monetarily if you can purchase a home while a student in school. I don’t think purchasing a residence would have an affect on your student loan as long as your credit is solid and you show a need for the loan.

Good luck.
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yicheng Says:
September 13th, 2009 at 5:02 pm

no because barack hussein obamas socialist plans will give u everything regardless
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katydint Says:
September 13th, 2009 at 5:44 pm

Only your Financial Aid Department knows for sure.
Call and ask, they have all the details.

I’m pretty certain that if you’re paying with your own earnings, you won’t qualify – obviously you can afford classes if you’re able to pay for a house. Then, again, if it’s your meager earnings and loans… mmmaybe that’s workable within the guidelines
Also, if you’re using an inheritance, you may qualify for aid.

When I was in college, the Financial Aid office was more than helpful in analyzing my situation.

Best wishes!
References :

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