I have been doing some homework on FA since my Son wants to play for a D3 private school. I own my own business and thought I would have to include that value= NO not unless I have over 100 employees. Also, if you live on a farm you don't include that either. Below is quoted from here what you do include:
http://www.getreadyforcollege....b4f361d124427003dc7c
Family-owned business with more than 100 employees
A farm that the family does not live on
I met with the school FA person. I used an example. Let's say I live in a 10M home paid for and my business was owned by an ESOP retirment plan. I sold my business for 20M in 2010. I took enough income in 2010 to live for 4 years so I don't have any income in 2011. I am worth 30M and my kid would get free college! She said "that is just their criteria to not count retirement or home....
After the FA process the coach said he would get admissions to "sharpen their pencil" The $42K is down to 30K so far with academics and I am hoping they do some sharpening!!
BTW, I don't qualify for any money as my income is too high. Hopefully I will qualify for some loans!!