Abnormally High Summer earnings.. Special Circumstances?

Paying for College
1

<p>My son earned $4500 last summer, which was inflated due to the fact that a co-worker at his seasonal job got mono and all the other workers opted to work her shifts, rather than hire another person. Additionally, since it is a seasonal seafood restauraunt that is open through October and we had an exceptionally warm fall, he worked a lot of hours in September and October that he won’t be able to work next summer. I would estimate he is likely to earn more along the lines of $3000.00 than $4500.00.</p>

<p>It probably will have little effect on his EFC, but do you think it’s worth an explanation letter? I don’t want to look greedy and desperate.</p>

2

<p>the income allowance for students is 3080 plus an amount they calculate for state tax, plus fed tax paid and ss tax paid.</p>

<p>then the govt will 50% of the amount over the total.</p>

<p>You should put it all down. You are looking at an amt of ~700 added to the EFC</p>

3

<p>Well the student income protection allowance this year is $3080. Plus there is an allowance made for earned income for social security taxes and State taxes (depending on your State). So, not knowing your State say the allowance is 10% (which may be optomistic) in total. Then $4500 less that 10% = 4500- 4050 = 4050. $4050 less 3080 = $970. Unprotected student income is assessed at 50% so his EFC would increase by somewhere around 435 (probably a little higher - you can get more accurate figures by running your numbers through an EFC calculator like the one at finaid.org
[FinAid</a> | Calculators | Expected Family Contribution (EFC) and Financial Aid](<a href=“http://www.finaid.org/calculators/finaidestimate.phtml]FinAid”>http://www.finaid.org/calculators/finaidestimate.phtml)</p>

<p>It is worth asking if the fact he will not be able to earn a like amount next year would be considered a special circumstance. I know if a student quits work to go back to school it can be considered. I wouldn’t worry about looking greedy or desperate. The worst they can say is no. (which I suspect they might - but it does not hurt to ask)</p>

<p>finaid has some information about special circumstances adjustments here
<a href=“http://www.finaid.org/educators/pj/specialcircumstances.phtml[/url]”>http://www.finaid.org/educators/pj/specialcircumstances.phtml&lt;/a&gt;&lt;/p&gt;

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<p>I’m sending a letter along I figure it can’t hurt.</p>

5

<p>Good luck. I agree - it can’t hurt.</p>