Isn't fafsa just the application?

Anyway, as far the applications you should not be worried about the financial aid. Let's say you had a business but it is not profitable then you would still qualify. I currently am a small business owner, however I attend classes and still qualify for financial aid as the past year has not been the best year for my business.

I have quite a few credit cards but it is not taken into consideration for financial aid, or at least I do not think so.
Many of us have a general idea of how it would affect you, however I would speak to a financial aid counselor about it as they can provide a firm answer, or at least find the answer for you.

In my opinion though, I do not see how it can affect your financial aid status.