- Bona fide loans and grants, except that part of a grant designated for living expenses or child care, is an income exclusion.
- Any grant or loan to a student for educational purposes made or insured under any program administered by the Commissioner of Education under the Higher Education Act is excluded. These programs of student assistance include:
- Basic Educational Opportunity Grants;
- Supplemental Educational Opportunity Grants;
- The College Work Study Program;
- National Direct Student Loans; and
- Guaranteed Student Loans.