FAFSA federal grants recalculated after college financial aid uses professional judgment?

Paying for College
1

Hi,
My son is putting together an application package for UT Austin for 2019 Fall. Planning on completing FAFSA early October.

Income in 2017 (which will not qualify me for any Federal aid) was reduced to almost half in 2018 due to being laid off in Feb. Actual income minus employment benefits and severance package in 2018 is ~34K$. Zero projected employment income in 2019 - other sources income will be about 25k$.

I understand that UT Austin Fin Aid Office will review Special Circumstances using their form. Am told that the form for 2019-2020 will only be available sometime in Spring 2019. Which may be ok for aid from college (which I understand is pretty small in general)

My question is whether after the true status is reflected by the Fin Aid office, we get to be reconsidered for Federal Pell and other types of assistance - or we are locked into only school aid at this point?

Thanks!

2

No, if they use professional judgment to make adjustments to your EFC, you will be awarded any Pell grant you are entitled to. If loans were unsubsidized, they might be adjusted to subsidized. You may be considered for an SEOG, but unfortunately, those funds might be exhausted by then (although sometimes available again in the fall if students who were awarded SEOG don’t attend).

3

Checking for clarity.

Your 2018 income will be about $34,000 plus $25,000 in other income?

Or is that “other income” for 2019?

Why are you certain you will have $0 in projected income for 2019? Are you unable to work? Are there no jobs at all on your area? None?

Are you married? If so…what about your spouse? Is he or she also not working?

4

Add the severance back in - if it was paid in 2018 then it is still considered 2018 income.

5

And just to be clear, you ARE in Texas, and your kid IS auto admit?