Student financial assistance

Financial assistance includes any assistance in excess of tuition that a student
receives: (1) Under the Higher Education Act of 1965. This includes Pell Grants,
Federal Supplement Educational Opportunity Grants, Academic Achievement
Incentive Scholarships, State Assistance under the Leveraging Educational
Assistance Partnership Program, the Robert G. Byrd Honors Scholarship
Program, and Federal Work Study programs. (2) Assistance from private
sources. Non-governmental sources of assistance, including assistance that
may be provided to a student from a parent(s), guardian, or other family
member and other persons not residing in the unit. (3) From an institution of
higher education requires reference to a particular institution and the
institution’s listing of financial assistance. HUD has interpreted the term
“financial assistance” to not include loan proceeds for the purpose of
determining income. Therefore, Perkins loans, Stafford loans, and Plus loans
under the Higher Education Act of 1965 are not considered as student
financial assistance.