Home  | Locations  | Investor Relations  | Employment  | Contact Us
Landing Financial Aid


Ways to Minimize Income during "Base Year"

For an initial grant of financial aid, your family income is calculated during the "base year," defined as the full calendar year beginning two years before high school graduation—that is, the last half of sophomore year and first half of junior year. It is in your interest to do what you can to minimize your family income during the base year.

  1. Ask to have your bonus at work paid before the base year.
  2. Don't recognize taxable capital gains by investments and real estate, etc.
  3. Plan not to receive a state tax refund (do not over-withhold your state tax liability).
  4. Invest in securities that offer tax-advantaged income (municipal bonds) or tax-deferred income (Series EE or Series I bonds).

Be sure to roll over any retirement plan or IRA distributions you receive, to minimize your income. Retirement plan monies do not count as assets when applying for federal financial aid.


1 Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of, nor guaranteed or insured by, any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.