<p>Should we file if our 09 income will be high due to severance salary plus new job? 2010 income will be around 50% lower due to lower salary in new job.</p>
<p>Some schools of thought would tell you not to file this year because you would establish an artificially high baseline for coming years. I would probably lean towards filing, but make sure you let FAO’s know (a letter) that the previous year is not indicative of your current financial situation.</p>
<p>Someone with more experience can tell you the REAL answer…but, just FYI…when I filed CSS (not FAFSA though), A.) you DO tell them your anticipated 2010 income. I’m not sure if that would be good or bad for a “need aware” school. (I.E. - oops, they can’t pay next year, do we want to admit?). But, also, that there is space on the last page to address/clarify any issues such as this.</p>