<p>My divorced mother recieved some inherent money from overseas around March after she had filed her tax return, and had filed for college financial aid. Should she report this new income to the colleges that I am accepted to? Three out of 5 colleges have given me the award packet already, but I am still waiting for the one I really want to go.</p>
<p>this money would be income on your next FAFSA, not this one you files based on 2005.</p>
<p>Right-- if it was received this year-- 2006- it will be untaxed income on worksheet B of your 07/08 FAFSA or Profile. Let your financial aid officer know that this was a one-time event, and they may use professional judgement to eliminate it from your income for that year.</p>