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DIVISION OF WELFARE AND SUPPORTIVE SERVICES Child Care Policy Manual for an agreed upon wage or salary. Self-employment income, full-time employment with benefits (such as school employees), or income received on an hourly or piecework basis are not included in contractual earnings. To budget contractual earnings monthly, divide the total gross amount of the contracted earnings by the number of months the contract covers. 306.8 Crime Victim's Compensation Payments Unearned - Exempt Payments from funds authorized by state legislation to assist a person who: • Has been a victim of a violent crime; • Was the spouse, parent, sibling, or adult child of a victim who died as a result of a violent crime; or • Is the guardian of a victim of a violent crime. 306.9 Disability Insurance Benefits Unearned - Count An insurance policy that pays benefits, for a specified period of time, in the event the policyholder becomes incapable of working; or Employer-funded compensation paid to an individual who is disabled less than 12 months. The individual usually remains employed during recuperation from the temporary illness or injury pending their return to work. 306.10 Dividends Unearned - Count A share of a company's profits that is divided among shareholders. People who own stocks, bonds, or mutual funds, may receive dividends from those investments. 306.11 Earned Income Tax Credits/Income Tax Refund Unearned - Exempt A benefit for working people with children who have low to moderate income; it reduces the amount of tax owed and may also give a refund. Earned Income Tax Credit (EITC) may be included: • In an employee's paycheck (advance EITC payments) before their income tax return is filed; or • In the household’s income tax refund. 306.12 Educational Assistance Unearned - Exempt Educational assistance is any financial aid for vocational or educational courses from: • An organization (such as fraternal, alumni, etc.); or • A government program or agency (such as U.S. Department of Education, Veteran's Administration (VA), etc.). Most educational assistance programs are administered through the U.S. Department of Education under Title IV of the Higher Education Act. Some of the most common programs are: • Pell Grants • Stafford Loan Program • Parent Loans for Students (PLUS Loans) • Supplemental Educational Opportunity Grants (SEOG) • College Work Study (CWS) • Carl D. Perkins Loans (Title IV, Part E) (formerly National Direct Student Loans) 300- Income and Assets [12] MTL 01/24 July 1, 2024