I, (fill in parent/guardian name below) on behalf of (fill in student name below) verify that the taxable income as stated on our most recent tax documents falls within the income guidelines stated below.
Your TAXABLE income can be found on line 15 of 2020 form 1040 or line 15 of the 2021 form 1040. TAXABLE income is typically less than Adjusted Gross Income, which is reported on a FAFSA, because of deductions that are taken from the Adjusted Gross Income to figure how much income will be taxed. .
Effective January 12, 2022 until further notice
Size of Family Unit |
48 Contiguous States, D.C., and Outlying Jurisdictions |
Alaska |
Hawaii |
1 |
$0 - $20,385 |
$25,485 |
$23,445 |
2 |
$0 - $27,465 |
$34,335 |
$31,590 |
3 |
$0 - $34,545 |
$43,185 |
$37,735 |
4 |
$0 - $41,625 |
$52,035 |
$47,880 |
5 |
$0 - $48,705 |
$60,885 |
$56,025 |
6 |
$0 - $55,785 |
$69,735 |
$64,170 |
7 |
$0 - $62,865 |
$78,585 |
$72,315 |
8 |
$0 - $69,945 |
$87,435 |
$80,460 |
For family units with more than eight members, add the following amount for each additional family member: $7,080 for the 48 contiguous states, the District of Columbia and outlying jurisdictions; $8,850 for Alaska; and $8,145 for Hawaii.
The term “low-income individual" means an individual whose family's taxable income for the preceding year did not exceed 150 percent of the poverty level amount.