Does the Student Report a Personal Loan As Untaxed Income On the FAFSA?

Award Year: 2024-25 KA-36684 Helpfulness Rating 12 page views

This guidance is specific to the 2024-25 award year and later. For 2023-24* award year guidance see AskRegs Q&A, Does the Student Report a Personal Loan As Untaxed Income On the FAFSA?

No. Starting with the 2024-25 award year under the FAFSA Simplification Act, a personal loan that is not an educational loan is not reported on the FAFSA, is not included in need analysis, and is not treated as other financial assistance (OFA) when packaging the student.

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