Does student financial aid exceeding amounts for tuition and fees count as annual income?

The correct answer states that student financial aid exceeding amounts for tuition and fees is included as annual income. This is because when evaluating income for purposes such as determining eligibility for housing assistance or other financial programs, any financial aid received by students beyond what is strictly necessary for tuition and fees typically counts as income.

This can include scholarships, grants, and other forms of financial aid that are intended to cover living expenses, books, or other costs associated with the education that exceed the basic tuition fees. Agencies and programs often consider these funds as income to assess the total financial resources available to students.

In contrast, many forms of financial aid that are strictly allocated for tuition and not used for other living expenses might be excluded from annual income, but the excess funds that are intended for broader educational costs are generally counted.