Some of our student loan clients have asked what they can make in terms of income and still be approved for a social security disability discharge. Normally we tell them income from employment counts, income from investments do not. For those that fear that they have to do a little part-time work in order to meet their bills, the guidelines allow someone to earn up to the poverty guidelines for their family size (and a family of one can use a family of two).
What forms of income are used to determine if I am exceeding the Poverty Guidelines or not?
The only income used to determine if you are exceeding the Poverty Guideline amount is income from employment.
|Type of Income||Counts Toward Poverty Guideline Amount?|
|Earnings from wages, tips or other taxable employee pay||Yes|
|Earnings from self-employment||Yes|
|Supplemental Security Income (SSI)||No|
|Federal or state assistance||No|
|Retirement Plan Income||No|
|Your spouse’s income (from any source)||No|