Workman's Comp Settlement for Father of Student, how is this reported on FAFSA and how will this affect Financial Aid?

Paying for College
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Husband almost lost his leg 2 yrs ago in a Steel Mill accident, was on Workmans comp for over 2 yrs, we chose to keep Medical care open and he will get a Settlement from this (losing his weekly compensation)- he will also be getting Disability Payments now, I was hoping to delay the Settlement check till AFTER we do the FAFSA , will it be ready to complete October 1 with the bugs fixed?

I also wanted it to be structured not Lump sum, but not sure we have a choice. So HOW is this supposed to be reported on the NEW FORM , where is this on the NEW form and how will it impact financial aid, this money only averages Husband getting approx $600 a week for 3 yrs total in a structured write up.

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@kelsmom

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This is an excellent article on the subject of settlements & FAFSA, written by a financial aid expert: https://thecollegeinvestor.com/38352/how-structured-settlements-impact-financial-aid/.

Oh, and as for timing of FAFSA … it will be phased in starting October 1, with selected students being invited on a rolling basis. So I would say that it will probably be more like December 1 for the masses (optimistically).

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