<p>I filed for financial aid and still haven’t recieved it because I need to fill out a
“low-income verification form.” Last year I didn’t make any money, but my Dad was paying me back money that he had borrowed from me when my younger sister was in school. </p>
<p>I have since returned to school to finish my bachelor’s degree. Since he had the money to pay me back and I could get financial aid by myself, I haven’t worked over the past year. </p>
<p>How should I account for the money that he is paying me back? It is money I already paid tax on and isn’t considered income, because it doesn’t increase my net worth. Does that make sense? </p>
<p>Anyways, I don’t know how I should account for a private loan repayment on the LIVF. Should I just tell them I am borrowing the money from someone or what? </p>
<p>Thanks for the help!</p>