Financial aide is dependent on lots of things. Owning a home and the amount of the mortgage, as well as the balance left on the mortgage are both things taken into consideration. Other things such as total family income, number of kids, number of kids also in college/private school, any investment accounts, any businesses your parents own and the school you are applying for all come in to play. Federal grants have gotten harder to get, but you still need to do your FAFSA for the garuanteed federal loans, private educational loans and scholorships..both private and through your school. No matter what you think you may or may not get, apply.
If they are repaying an interest - bearing mortgage, it will do the opposite.
It may or may not.....financial aid takes into consideration lots of things. ....like how many dependants in the household.....the income of the family.....how many attending college etc......also there is financial aid that is determined by your academics....check into to it ....you might be surprised what you find....good luck
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