Page 76

Vermont Department for Children and Families Reach Up Eligibility Rules Economic Services Division 2200 75

ii. The sponsor of the grant or loan precludes its use for maintenance purposes, including Vermont Student Assistance Corporation, Senatorial Scholarships, or Supplemental Educational Opportunity Grants (SEOG); or iii. The work/study program is administered by a college or university recognized by educational authorities in which the undergraduate student is enrolled half time or more than half time, as defined by the school, including College Work-Study Programs (CWSP); 5. Bona fide loans regardless of purpose shall not be considered income or a resource available to the household; i. A loan shall be considered bona fide if it is from an establishment or individual that is in the business of making loans and is evidenced by a written agreement to repay the money within a specified period; ii. If the loan is obtained from an establishment or individual not normally engaged in the business of making loans, evidence that the loan is bona fide would be provided by a written agreement between the parties to the loan that specifies a timetable or plan for repayment; iii. A loan is considered bona fide even if it is repaid without interest or was obtained without being secured with collateral; 6. That portion of any Veterans Administration Educational Assistance Program payment for the student that is used for the following types of payments including: A. Tuition; B. Books; C. Fees; or D. Child care services necessary for enrollment; 7. Student financial assistance provided under Title IV of the Higher Education Act or Bureau of Indian Affairs Student Assistance programs, including the following: i. Pell Grants; ii. Supplemental Educational Opportunity Grants (SEOG); iii. State Student Incentive Grants (SSIG); iv. College Work Study (CWSP); v. Perkins Loans (formerly National Direct Student Loans), which do not include the Carl D. Perkins Vocational and Applied Technology Education Act outlined below; or vi. Guaranteed Student Loans (GSLP), including PLUS loans and Supplemental Loans for students; 8. Student financial assistance provided under the Carl D. Perkins Vocational and Applied Technology Education Act is disregarded as income or resources when the assistance is made available to meet attendance costs, which include: i. Tuition and fees normally assessed a student carrying the same academic workload as the applicant/participant, as determined by the institution, including costs for rental or purchase