My student got their financial aid package and it has been reduced such that we are now required to literally paying twice what we paid for first and second year. It’s unattainable, out of reach. Any parents out there with tips, suggestions, or know how to help your kid transfer schools their junior year? Yes, I’ve already reached out to appeal the financial aid decision. Any additional tips welcomed!
Was it need based aid or merit aid that was cut? Was there a major increase in your family income? Did he fail to meet the required GPA for merit aid renewal?
FAFSA only school? Did you do an IRA or TSA rollover in 2016? If so…did you correctly note this on your FAFSA, and also check the little box related? If not…that rollover would be considered income.
Or…did you have a second kiddo in college those first two years? If so…and that kiddo graduated from college, your cost would double.
It was need based aid. GPA is exceptional, I think around 3.8. No increase in family income. Only major change in circumstance was his older sister graduated college this May. I didn’t expect this to double what we’d pay moving forward. And, his dad and I have both been unemployed, myself 8 months, just started a new job last Monday, his dad has been unemployed since Feb. 2018, has not returned to work yet. We both have been able to receive unemployment insurance (not terminated), so anticipated this would be weighed in. We went from paying around $20k prior two years to now being asked to pay $46K for third year. It’s not possible…
There you go.
You had two kids in college last year. Your total family contribution was divided in half for each kid. Now that you only have ONE in college, that one kid gets the whole family contribution.
Your family contribution for that one kid…per FAFSA…likely doubled, right?
Not a surprise. This is what happens when one sibling graduates.
In terms of transferrring…some instate public universities might still be taking applicants for this fall start for transfers. Check there.
It sounds like this double in costs is very much because you don’t have a second kiddo in college.
If your current income is significantly less than 2016, you can ask the college for a special circumstances consideration…based on job loss and reduced income. Worth a try.
Your EFC was based on having two children in college. Now that you only have one child in college the school now believes that since kid number one has graduated, the money that you used to pay for her has now been freed up to pay for kid number 2
How much were you paying for both kid 1 and kid 2 to attend school Is what you must pay now a lot more than you were paying for both of your kids to attend school?
Yes, his older sister graduated from College this May, but I didn’t expect this to double our expense. No IRA or TSA rollover in 2016.
It’s not a FAFSA only school, private liberal arts college.
One other thing…unemployment compensation is considered income. It’s not excluded as you noted.
Also, if either of you received any severance pay when you lost your jobs…that is also considered.
The unemployment income wouldn’t show up yet on the FAFSA or CSS as those are based on income from 2016. When you appeal, that income will be considered but I imagine it is much much less than you were earning.
All you can do is beg at this point.
My older daughter had exceptional need based financial aid and also was an RA so room and board was covered. We had very little out of pocket expense for her education. My ex and I are divorced and I don’t know his financial details and am confident his income/assets are hugely impacting this situation. The lions share of support for my kids college expenses have come from me and I don’t expect him to step up at this time so fear switching schools will likely be our only option at this point.
I don’t know if my ex got severance pay.
My income 2017 will be approximately half what I made in 2016.
Best guess, I make approximately 30% of what their dad makes.
My oldest daughter went to Whitman College and they were willing to look at extenuating circumstances and not take her dad’s income into consideration as he was not willing to support her without a court order.
Begging looks to be my only option moving forward. Thanks for engaging.
Your ex doesn’t contribute? He had a say in how schools were picked? Do you have a cordial relationship?
What is your local 4 yr that your kid could attend?
Major? Career plans?
Begging is fine but you need to get plan b in motion now and be ready to withdraw before you are required to pay anyway. You really don’t have an extenuating circumstance, your oldest is now no longer an expense.
Does your younger kiddo go to a college that meets full need for all students…guaranteed?
Does this school use the CSS Profile, and require the non-custodial parent Profile?
Are you remarried? Is the other parent remarried? Of so…spouse incomes could very well factor into this as well.
That your first kiddo had great aid, etc…and a RA position, etc really doesn’t matter. What matters is you now have ONE kiddo in college instead of two.
Without knowing your second kid’s College, it’s hard to guess what they will do. Some schools have deeper pockets and the resources to help in extenuating circumstances, and others don’t.
OP is divorced, school is private LAC, not FAFSA only. Sounds like NCP is a higher earner with assets but not on the same page about college $$ (as is his right).
@Sybylla oh I get what you wrote.
But is the NCP remarried? Is the custodial parent remarried? Does the school guarantee to meet full need…not all Profile LAC schools meet full need.
If you read the fine print on the prior prior year business, you will see there is an opportunity to report more recent information if what you submitted doesn’t describe your circumstances. If your income really is different than what the FAFSA says, I’d call the school and get advice from their expert. If it is just “other kid is out of school now” then your daughter either has to sit it out for a while or borrow. Sorry.
Kid still in college is at Amherst College.
Yes, they use non-custodial CSS profile.
I am not remarried nor is my ex.
Relationship is somewhat cordial.
Dad did not pay for his daughter’s college expenses except what was court ordered her first two years. Her last two years daughter and I paid the balance, which has been reported to Amherst. Kid still in college was adamant did not want to pursue court to get his dad to pay. Dad contributed last two years, but no way of knowing if he will pay more towards next two years with the dramatic increase.
Local college, state college would be UMASS. Any additional suggestions for good state schools would be appreciated.
Student in college is majoring in Econ/Math.
Is there any way to transfer schools as a junior and still stay on a four year path or can you project being a 5 year grad changing schools mid way?
Any idea if internship opportunities are contingent on you staying in the same college? My student has an intern offer for next summer, but I’m afraid he’d lose the offer if he changes schools.
Part of what confuses me is that I’ve reported each year what I’ve paid towards my daughter’s college education and it was no where near $20K a year. I don’t understand the calculation and subsequent increase for my other student’s last two years. Any insight? Is it irrelevant what I’ve actually been paying, they use a separate formula to calculate what I should have been paying?
Thanks again for dialogue.
Your best bet for transfers is an in-state public university or a school where your student can live at home and commute. At these schools, you get an automatic discount for being in-state or for not having to pay for a dorm room, regardless of what the financial aid formula says.
Call the admissions offices of possible schools to see if they are still accepting transfer applications and call financial aid offices to see if they will consider an appeal based on your employment situation. A FAFSA-only school will not consider the noncustodial parent’s income, which will improve your chances of financial aid. However, many FAFSA-only schools do not meet full financial need.
A gap semester or year may be needed in order to successfully transfer since it is late in the year. You can check the NACAC openings list for schools that definitely need students for this fall – select those schools where “Transfers” is “Yes” and “Financial AId” is “Yes” and see if anything looks promising.
Good luck.
Thanks! These are all helpful tips. I will look into these suggestions.
The college was notified that income for 2017 was not the same as 2016 since both parents were unemployed. Special circumstances were addressed.
Yes, non-custodial parent is not obligated to pay anything at this point. Just hard cause my student’s aid is contingent on his dad’s earning and assets which dramatically exceed my own as the primary.
Just trying to figure out how to help my student through this. Obviously a huge crisis for a student mid way through their college education.
You said the dad is not currently working so how can his income exceed yours?