Life insurance Payout and fin aid

You are right that the income from the payout if received in 2023 wouldn’t be shown until the next year, but it would still be a student asset( I thought your income was $54k?)

I will defer to @kelsmom, I’m not sure but the new fafsa coming in December might have a different formula than you cite above.

ETA: It looks like for the new FAFSA coming in December 2023 that the income threshold for “Applicants Exempt from Asset Reporting’ (formerly the simplified means test) is increasing from $50K to $60K. But, NYU uses CSS Profile, not the FAFSA SAI to put together their FA packages, so I expect that the asset has to be reported in CSS Profile.

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