<p>My S will be starting college in 4 years. My wife would like to retire in two years at which time she will be 58. She will be drawing a pension of $1900 per month. Does the fact that she is retired and collecting her pension have to be included in as part of our income in determining aid?</p>
<p>???</p>
<p>Yes, you have to include your wife’s pension on the FA application. </p>
<p>Not sure what the concern is. When she’s working, you’d include her income. When she’s retired, you include the retirement income. </p>
<p>Why would you not?</p>
<p>Another site said it did not have to be included (must have misread it). I also was not sure if it was earned income or unearned because she would not be working. I was going to ask the FA people at my school tomorrow but I couldn’t wait 
Thanks for answering.</p>
<p>I think it is considered unearned income.</p>
<p>I think unearned income is “hit” with a harsher calculation because there aren’t work-associated deductions.</p>
<p>Untaxed social security pensions are not used by FAFSA. THere may be other types of pensions that fall in that category, so you do have to check very carefully as to what kind of pension your wife is drawing. Also for PROFILE, they will want all of the information.</p>