It is indeed a great news. Thanks for the link.

I ran the number again with college board EFC calculator. The future looks much brighter.

http://apps.collegeboard.com/fincalc/efc_welcome.jsp

The new policy will help those middle/upper middle class families with significant income and significant home equity. But if you have a lot of asset outside of home equity like stock, bond, or business equity then the new policy may not be that useful to you.

But before you sell your stock and put the money into your home (this is legal), make sure that your kids get into Harvard first. :-)