Any debts considered are debts against specific assets listed on aid forms.
Regardless of the cost of the college, the amount of Expected Family Contribution does not vary under the Federal Analysis, but can by a substantial amount under Institutional Methodology used by many private institutions. Many private colleges have chosen to use a more stringent formula referred to as Institutional Methodology. This looks at other assets and can increase your E.F.C. significantly. Yes, it is possible, but not a quick-fix item. Financial strategies change dependent upon your combined income, net worth, expected family contribution, and cost of attendance.