I am a 2nd year undergrad who has been recently getting into stocks. I fortunately was able to learn how to trade relatively quickly from people who I consider mentors. Now that I realize that trading can be an actual source of income, I would like to know if / how much my capital gains will affect the amount of FAFSA / Pellgrant I will receive in the future.
Some information that may help answer this question:
My mom is divorced has two dependents ( my brother and I)
She does not have any assets
I qualified for a Pell Grant last year
I make around 450 a week from trading
This year will be my first year I have ever filed for taxes
I currently go to a community college that costs ~$7000-8000 a year excluding grants/scholarships.
I currently have a 3.982 GPA
Another question if it is possible to answer:
I am wishing for a transfer to UofM. If my hopes of this were to happen, would I still be able to qualify for The U-M Go Blue Guarantee?
Information about The U-M Go Blue Guarantee for those who are not informed about it:
" U-M will pay full undergraduate tuition and mandatory university fees for up to four years for students:
who are eligible for in-state tuition
who are eligible to apply for financial aid
that have family incomes of $65,000 or less and assets below $50,000 (as well as tuition support for some families earning more)
who are pursuing their first bachelor’s degree "https://finaid.umich.edu/go-blue-guarantee-eligibility/
If any other questions are needed I will try my best to answer them.
Thank you for taking the time and reading this long post.