Will assets from family farm disqualify son from financial aid?

Question

we have tractors and general farm equipment that would add up to quite a bit in "assets" but our income isnt that much. will the assets from our family farm disqualify him from college loans and scholarships?

Answer 1

If you live on the farm (it is your primary residence) then you do not list it on the FAFSA as an asset and it will not be taken into consideration for federal financial aid.  It may affect eligibility for institutional aid, but each school is different, so you will need to check with the Financial Aid Office at the school your child is planning to attend.