Financial Aid Difference in Sophomore Year

<p>I will be a sophomore at the University of Rochester this fall semester. I was just notified of the amount of financial aid that will be awarded to me next semester and it is significantly less than the past two semesters. I would have to somehow acquire an extra $5,000 per semester compared to last year. I don't understand how this could be when I have a 3.84 GPA and my parents are making less money now than they were last year. I have talked to others at U of R and they say that their financial aid has not changed much at all. I have already emailed my financial aid counselor about what the cause of the difference in financial aid could be due to. Is there anything else that can be done? I am seriously considering transferring because I cannot afford to attend U of R at this price.</p>

<p>Did you go over your F/A paperwork to see if you made a mistake? (Compare last year's paperwork with this year's)</p>

<p>Did your FAFSA EFC change? </p>

<p>What was reduced in your FA package? Was a grant reduced?</p>

<p>Did you have any one-time outside scholarships last year?</p>

<p>Yes, my FAFSA EFC changed, but I'm not sure why since my mom lost her job and my parents are now making less money.
Grant money was reduced, as was some needs-based scholarship money. My merit scholarship remained the same.</p>

<p>When your mom lost her job did she receive a severance check? From my understanding severance checks are typically quite large and that may have impacted your aid.</p>

<p>Compare the FAFSA that you submitted in 2009 with the one you recently submitted in 2010. </p>

<p>What is different? Did the income rise?</p>

<p>Did savings rise?</p>

<p>When did your mom lose her job?</p>

<p>Did she receive a severence in 2009? </p>

<p>Or, did she receive a severence in 2010?</p>

<p>Was the severence in savings at the time of FAFSA submittal?</p>

<p>How much did the EFC change?</p>

<p>My mom received a severance check in 2009. The EFC went from 3900 to 7900. The income did not change. Could I have made a mistake in filling out the FAFSA?</p>

<p>It depends on the size of the severance check, but in general I think the best advice is to compare your recent FAFSA with last year's. It will be a good way to either see exactly what is making the EFC come out so differently -- it may be income or assets, or it may be a mistake.</p>

<p>When you say that the "income" didn't change from 2008 to 2009, are you counting the severance check as "income"? </p>

<p>For instance, if your family earned $50k in 2008, but then your family earned $30k in 2009 from wages, but also received $20k in severance? </p>

<p>Also, was there any change in the number of children going to college in your family?</p>

<p>Also, when you filed your FAFSA, was there a large amount in savings (perhaps from the severence)?</p>