Rethinking Student Aid Report Released

<p>Next year’s FAFSA does away with the schedules. The questions requesting untaxed income are right in the body of the income section, which will help people to better understand what they are being asked to report. Some untaxed income that used to be reported no longer will be, but that does not include pensions - it’s low-income benefits (TANF, WIC, food stamps, untaxed SSI - plus earned income credit). The instructions for reporting untaxed portions of pensions & IRA distributions are really clear. That should help keep people from not realizing what must be included in income.</p>