Did I just majorly screw up?

[hopefulbk]

Not that I could avoid it...
Does anyone know if financial aid (federal aid/grants) for school counts as "income"? I declared my school bank account that got deposits when I filed and now they want the month after statements before my 341 (which I knew but I am up front about it ALL). Well, I just logged in and I got an "extra" state scholarship grant for my good grades and a decent amount was deposited into this school account for my "aid". I have a zero balance at school- this is just extra for books, housing ect... I'm SURE this will be the end of me at the 341- agreed?

I already filed a few weeks ago

[backtoschool]

Not that I could avoid it...
Does anyone know if financial aid (federal aid/grants) for school counts as "income"? I declared my school bank account that got deposits when I filed and now they want the month after statements before my 341 (which I knew but I am up front about it ALL). Well, I just logged in and I got an "extra" state scholarship grant for my good grades and a decent amount was deposited into this school account for my "aid". I have a zero balance at school- this is just extra for books, housing ect... I'm SURE this will be the end of me at the 341- agreed?

I already filed a few weeks ago

Grants and scholarships for living expenses are considered income. Loans are not.

Were you close to the median income when you filed?

How much was the scholarship? If it is not a significant amount of money I don't think it will be a huge issue at the 341 since your financial situation on the day you filed is what matters. Just be honest about it when and if the trustee asks you if you have any new income. The trustee is not going to take your financial aid if you need it for legitimate living expenses while in school. Most likely if you are a student, you are way under the median income anyway.

[music12]

even if it's income, it's income for time after you filed, like the upcoming semester. it's not supposed to be considered at all.

exactly what statements do they want? do they want the statement that includes the filing date? if so, all they are looking for is verification that the amount you reported for your filing date was indeed the amount that was in the account. you could potentially just ask the bank for a letter verifying the amount on that date. or go online to your bank's website and see if you can print out a page there that includes just the filing date. what does your lawyer say about this?

[hopefulbk]

Lawyer is off on Fridays and the weekend so I have to wait until Mon to call. When I went to print a statement, even though it says my available balance was a few cents on the day I filed, in the corner, it says current balance as of today and shows the new amount! AHHH

It wasn't a small amount but it wasn't enough to live on for more than 2-3 months.

Regardless, my income is waaaaaaaaaaaay below the median (hence the grants) but my lawyer did say he wanted 1 statement per account after filing and before the 341.

[indy]

who is they? the trustee or laywer. are you just even with the income? are you filing a 7 or 13?

a little more detail would help.

[hopefulbk]

who is they? the trustee or laywer. are you just even with the income? are you filing a 7 or 13?

a little more detail would help.

Well, the lawyer wants these statements because he said the trustee asks for them. I am way below the median in general but an extra few grand this month kind of throws off my "income" for Sept. I had it so I broke even every month with expenses. I DO have to get a lot of things with this money as far as living expenses but I'm worried to spend it.