<p>For those of you who have purchased a home for the first time and received the tax incentive which could be $8,000 do not allow colleges to convince you that this has to be reported in your fafsa. I had to call FAFSA many of times until I was told that I can reach out to my fafsa regional office. The fafsa regional office in Illinois confirmed to me that this tax credit is not to be noted in your Fafsa which if you allow the college to convince you otherwise the outcome could affect the EFC. My son almost lost his Pell and map grant because they went into my son’s Fafsa and made changes by including the $8,000 which I disputed and then corrected the application.</p>
<p>This is not earned income. The home buyers first time buyers program was setup to assist in your first home purchase and of course to stimulate the economy.</p>
<p>If your your childs financial advisor can’t help you then go to the director of financial assistance at your school. If this does not work go to the Dean of admissions. If the school still refuses do not hesitate to contact your state regional office. Hope this helps for all those that may have been guided the wrong way.</p>