Profile Questions PF-100, 105 expected 2009 income

Paying for College
1

<p>PF-100, 105 ask for the amount of income each parent expects to earn from work in 2009.</p>

<p>Husband changed jobs last Fall and his base pay is lower than it was before. Most likely he will have opportunities to make additional income but since he is new at this job, plus the economy is uncertain, we are less sure how much this might be than we were for his old job where he had worked for many years.</p>

<p>Also, after being a stay-at-home mom for a few years, I’ve been looking for a job but don’t have one yet.</p>

<p>Do we complete the Profile questions for projected income with what we know now (base pay for him, no job fo me)?</p>

<p>If I find a job during 2009, is it expected that I update the colleges or is that just reflected in next year’s profile?</p>

2

<p>Because you do not know what the future will bring, the best thing to do is fill it out with what you <em>know</em> you will earn. As far as updating later … it will catch up with you next year.</p>

3

<p>Does anyone have any experience with how college financial aid offices treat multiple premature IRA distributions due to job changes and loss of income?</p>