<p>How about assets?</p>
<p>We made well below the $60,000 the two last years and even less this year. But that is because we are self-employed and our business is all but dead. </p>
<p>We do own a home (paying mortgage with home equity line, which is almost all used up). There is equity left in the home. </p>
<p>Also, we have retirement funds (which we will start having to use to survive shortly). Do they count these? </p>
<p>Son will apply next year and we will have three years of tax returns where we are well below the limit. Do they count this, or do you have to have a lifelong low level of income and no assets?</p>