Excludable Income [Education] Law and Legal Definition

Pursuant to 20 USCS § 1087vv (e) [Title 20. Education; Chapter 28. Higher Education Resources and Student Assistance; Student Assistance; Need Analysis], the term excludable income means--

“(1) any student financial assistance awarded based on need as determined in accordance with the provisions of this part, including any income earned from work under part C of this title [42 USCS §§ 2751 et seq.];

(2) any living allowance received by a participant in a program established under the National and Community Service Act of 1990 [42 USCS §§ 12501 et seq.];

(3) child support payments made by the student or parent;

(4) payments made and services provided under part E of title IV of the Social Security Act [42 USCS §§ 670 et seq.]; and

(5) special combat pay.”