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Is having a house under my name going to affect my financial aid?

My parents got a divorce and my dad gave my mom a house but she does not have a social so she put it under my name. Technically it is under my name but my mom uses the rent money so we can live off from. Will if affect me from receiving the financial aid I get?
#fafsa #financial-aid

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Liane’s Answer

It depends. It will affect you most if you choose to attend a CSS Profile School. You can also send in a request for professional judgement after choosing a college and explain the situation.

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Misty’s Answer

yes due to the fact that there is an income coming from the home. if that is found out and you do not report it, that is considered fraud and you could get in alot of trouble not counting having to pay the financial aide money. reporting it will not necessarily affect your fafsa approval, however it may have an effect on how much you receive.