My dad took out an equity loan for $150,000 two years ago and still has only been paying the monthly interest. Last year the interest alone amounted to $10,000 annually. My dad makes close to $200,000 a year but has lost a lot of money in stocks, and his savings are nearly empty. I was wondering if I could receive financial aid because of the outstanding loans or will I be denied financial aid right away because of his high income.
Will outstanding loans be accounted for college financial aid?
- Thread starter Ryan
- Start date