106 CMR, § 365.740 - Income
Students as a rule have extremely uneven cash flows and have sources of income not normally available to other households.
(A)
Income for Educational
Purposes. Income for educational purposes includes scholarships,
fellowships, educational grants, deferred payment loans for education,
veterans' educational benefits and the like.
(B)
Excluded Educational
Expenses.
(1) The income
described in 106 CMR 365.740(A) is excluded to the extent that it is made
available for tuition, mandatory school fees, origination fees and insurance
premiums on student loans, books, supplies, transportation, and any other
expenses necessitated by school attendance, in accordance with
106 CMR
363.230(D):
Educational Loans, Grants and Scholarships, at an institution
of post-secondary education, a vocational or technical school at any level, a
program that provides for completion of a secondary school diploma or the
equivalent, or a school at any level for the physically or mentally
disabled.
Notes
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