931 RESOURCES/ASSETS  (FAM)

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The applicant must attest that the family resources do not exceed $1,000,000.  No member of the assistance group shall have assets, nor shall the combined assets of the assistance group exceed $1,000,000.

Resources, including both personal and real property, will not be counted when determining financial eligibility and family cost share for NH Child Care Scholarship unless the total countable resources exceed $1,000,000. A resource is only countable as an asset to the extent an assistance group member has equity in the resource. For example if a parent owns a home valued at $1,000,000 but owes $750,000 in home loan, the parent would have $250,000 in home equity and would only be disqualified for over the resource limit if the parent or other assistance group members have $750,000 in other resources.

References: He-W 601.07(f), He-C 6910.06(f), RSA 161:2,XII, RSA 167:80,IV(b) and (i), RSA 167:82,VI, RSA 167:83,II(o), 45 CFR 98.20