If you have already received your financial aid package, don't worry about anything.  Just act like nothing happened.\nAnd, if you have not received your financial aid package yet, don't run to tell the financial aid office that you are about to sell a house for 50K.\nThe only way I see that this could affect your financial aid is if you are heavily depending on federal loan/grants.  If you got or are going to get institutional grant/scholarship, you shouldn't worry about anything.