| AwardYear: 1996-1997 ChapterNumber: 4 ChapterTitle: Discretionary Verification Section: Verifying Total Income PageNumber: If the applicant's reported AGI (or income earned from work) is so low that you doubt the family could have lived on that amount, you may wish to verify total income, although required verification does include some of the components of total income. Total income is the sum of AGI (or income earned from work), Social Security Benefits, AFDC, and other untaxed income. (See Worksheet #2 in the FAFSA instructions for a list of other income that must be reported.) A Tip for Verifying Total Income--Often, when a student is asked to explain how bills are paid, unreported sources of income are discovered. Ask how much monthly housing and utility bills are and from what income source they are paid. Also ask about food costs, medical bills, and car payments. |