Hello,
I am a current undergraduate student. My parents have been in the process of a legal separation over the past 9 months, and our recent professional judgement appeal for expected family contribution for 2017-2018 was approved. Our AGI was changed to reflect my mom’s income (custodial parent); however, my dad owns a rental property which we declared when we originally filed the 2017-2018 FAFSA. After the appeal, this rental property is still listed as parent’s assets, which has a pretty hefty effect on my EFC. Is this allowed, and how do I go about appealing this???
We have court documentation as proof that my mom owns no rights to the rental property, and this is even listed on the legal separation documentation which we already submitted to the office of financial aid.
[For anyone with more knowledge on this issue, as per the “Federal Student Aid Handbook with Active Index 2017-2018,” can this asset be considered under contested or part ownership of the asset?(page AVG-19 or page 79)]
Thanks for the help!
@kelsmom is probably the person you want to communicate with.
So…contact the financial aid office and ask.
@happymomof1 thanks!
@thumper1 I want to go in with a plan and ask them
When you make your appointment, you want to speak to someone a little higher up on the food chain than the finaid person assigned to you…especially if that person is unable to answer your questions.
You go on with the documentation that your mom’s name has been REMOVED from this property…the legal documentation.
Because your parents are not yet actually divorced, this could still be considered an asset…because sometimes separated families do reconcile.
BUT…your plan should be to present legal documentation that your mom’s name has been removed from the deed, and any other ownership related things to this property.
I don’t understand, why are you doing this now?
The 2017/18 aid year is almost over. I don’t know if they will be able to adjust your aid at this late time.
If your parents were married at the time you filed the FAFSA for 2017/18, then both parents’ income and asset had to be reported.
The college does not have to change this if the parents get separated during the 2017/18 year.
It looks like your parents separated in July of 2017. At that time did you provide the FA office with proof of separation, your mom’s income and the proof that the rental property is your dad’s only?
It seems that your EFC and aid could have been adjusted at the beginning of the 2017/18 school year, if the school was willing to do that.
Did you file your 2018/19 FAFSA? That one will have your parents as separated and only your mom’s income and assets reported.
Make sure you provide the school with proof of your mom’s income from 2016 and the paperwork that shows rental property ownership of your dad.
Professional judgment is completely up to the school. There are guidelines within which they need to operate, but they do not have to do any of the things they can do. Schools have their own policies. The only way to know is to ask the financial aid office at your school.