MBA Finances
Haas Loan Repayment Assistance Program -- Income Eligibility & Calculation
Participation in the Haas LRAP is limited to those graduates with an adjusted annualized full-time taxed and untaxed income of up to, and including, $80,000. Annualized full-time income is the gross income reported on federal tax returns (Form 1040, line 36; form 1040A, line 21; or form 1040EZ, line 4; or Telefile, line 1), adjusted for the calendar period employed and the number of hours worked per week. If housing is provided, a participant’s income will be increased by $1,000 per month unless she/he can show that the value is less. A married participant's eligible income will not be adjusted unless her or his spouse has a higher income, in which case the participant's eligible income will be calculated based on half of the joint income of the couple. For purposes of entrance into and participation in the LRAP, persons with dependents, as determined under federal income tax guidelines, shall have their income adjusted downward by $6,000 for one dependent, and by $4,000 for each additional dependent.
