mid-year change in status- transfer to community college

[sadparent]

I need to know where to start with this. Child 1 is at the end of third semester at a pricey private. Child 2 attends state flagship. Child 1 is struggling and miserable. Wants to transfer to our local community college while figuring out what to do with their life. Obviously this will change our financial aid information for both children and I don't want to run afoul of Child 2's financial aid department. How do I report the change in Child 1's status and the associated costs? Do I then report this information to Child 2's school? Is this something that will sort itself out in January?

Any advice is appreciated. I want to do the right thing but I'm having difficulty figuring out where to start. I'm a fairly regular poster but wish to remain anonymous on this topic. Thanks.

[swimcatsmom]

For FAFSA there is no change of status. Their financial aid information has not changed for this school year. You had 2 in college during the 2009-2010 school year. FAFSA does not ask or care about the costs of the respective colleges. I am assuming the state flagships is FAFSA only.