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What is the difference between very-low, low-income, and moderate income?

April 26, 2017income low-income very-low

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What is the difference between very-low, low-income, and moderate income?

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The meaning of these terms can vary amongst institutions and programs, but generally very-low income persons refers to persons at or below 30% of the Area Median Income (AMI), low-income persons refers to persons at or below 50% of the AMI, and moderate income persons refers to persons at or below 80% of the AMI.