Any advantage of having a mortgage when kids go to college/university?

madcow2006

We are hoping to get shot of our mortgage in the next year or so if all goes well. But our eldest is coming up to leave school & has the ability to go to college & onto university if he puts his mind to it! We were wondering is there any advantage in having a mortgage when putting your kids to college or university from the point of being means tested/asssessed for any assistance with course fees, etc. That is of course if there is any financial assitance out there for tuition these days. We've heard that if you have a mortgage that it counts in your favour for the assessment. But we would of course love to get shot of the mortgage.

Cheers Madcow

waterbaby

As far as I am aware (the last time my parents had anything to do with this was 2004) they only look at your income. I would find it very odd looking to see if someone had a mortgage and awarding them more money because of it. If you don't have a mortgage to pay, you have rent to pay instead.

But I am no expert.

madcow2006

Thanks Waterbaby

Madcow