But if you have substantial balances on cards, you could consolidate your debt by taking out a home-equity loan. Remember, certain schools consider the equity in your home part of our assets. Because a home-equity loan reduces your equity, a loan might help you qualify for more aid. You'll have to report what your investments and assets are worth as of the date you complete the financial aid forms. Hold off cashing in your U.S. savings bonds.
Many parents save for college with U.S. savings bonds.
But most of the money you receive when cashing in a bond is interest income. If you cash in the bond during the base-income year, colleges will get a distorted picture of how much interest income you earn each year. You're not required to redeem U.S. savings bonds in the year they mature. You can simply hold on to them and redeem them later. With Series E and EE bonds, you may even be able to roll the money over into Series H or HH bonds.