4-1 SUBMISSION ANNUAL ADMIN PLAN_EXHIBIT 3

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6-I.L. STUDENT FINANCIAL ASSISTANCE \[24 CFR 5.609(b) (9) and FR 12/14/12 In 2005, Congress passed a law (for section 8 programs only) requiring that certain student financial assistance be included in annual income. Prior to that, the full amount of student financial assistance was excluded. For some students, the full exclusion still applies. Student Financial Assistance Included in Annual Income \[24 CFR 5.609(b)(9) and FR 4/10/06\] The regulation requiring the inclusion of certain student financial assistance applies only to students who satisfy all of the following conditions: They are enrolled in an institution of higher education, as defined under the Higher Education Act (HEA) of 1965. They are seeking or receiving Section 8 assistance on their own-that is, apart from their parents-through the HCV program, the project-based certificate program, the project-based voucher program, or the moderate rehabilitation program. or They are under 24 years of age they have no dependent children. For students who satisfy these three conditions, any financial assistance in excess of tuition and any other required fees and charges received: (1) under the 1965 HEA, (2) from a private source, or (3) from an institution of higher education, as defined under the 1965 HEA, must be included in annual income. To determine annual income in accordance with the above requirements, the PHA will use the definitions of dependent child, institution of higher education, and parents in Section 3-II.E, along with the following definitions \[FR 4/10/06, pp. 18148-18150\]: Assistance under the Higher Education Act of 1965 includes Pell Grants, Federal Supplement Education Opportunity Grants, Academic Achievement Incentive Scholarships, State Assistance under the Leveraging Educational Assistance Partnership Program, the Robert G. Byrd Honors Scholarship Program, and Federal Work Study programs. Assistance from private sources means assistance from nongovernmental sources, including parents, guardians, and other persons not residing with the student in an HCV assisted unit. Tuition will have the meaning given this term by the institution of higher education in which the student is enrolled and will include any other fees and charges required by the institution for enrollment \[FR 12/14/12, p. 74497\]. Student Financial Assistance Excluded from Annual Income \[24 CFR 5.609(c)(6)\] Any student financial assistance not subject to inclusion under 24 CFR 5.609(b)(9) is fully excluded from annual income under 24 CFR 5.609 (c)(6), whether it is paid directly to the student or to the educational institution the student is attending. This includes any financial assistance received by: Students residing with parents who are seeking or receiving Section 8 assistance not Students who are enrolled in an educational institution that does meet the 1965 HEA definition of institution of higher education Page 6-22 04/01/14