<p>“A friend’s husband is a retired full bird colonel who collects over $70K a year in retirement, plus he earns about $130k at his new job. But they didn’t have to declare any of the $70+k on their kids’ FAFSA forms. He is 51 years old.”</p>
<p>The $70K annual income gets reported on FAFSA, along with the $130K. So the family wouldn’t be eligible for any need-based financial aid, unless they had multiple kids in college at the same time.</p>