Question about FAFSA!

<p>I was filling out a FAFSA form to attend college in Fall 2008. During the process I was asked to provide info about my 2007 tax return. I made alot of money in 2007, so my return will show a high gross income, however, since Jan of 2008, I have been out of a job and only my wife is working. I plan on taking up a part time job while attending college. If I submit my 07 returns, won't it look like I make too much money for assistance even though I am now out of a job? What do I do here and how does this work?</p>


<p>yes -- your income will be counted. What you need to do is file the FAFSA then take documentation of your work situation into the college financial aid officer and ask for a special circumstance adjustment. You need something to show that you were let go/fired/whatever. They will also ask for unemployment income, if you qualified. Have all the documentation you can find. Keep in mind that, depending on how high your income was, they will have expected you to save some of that money to pay for college this year.</p>

<p>You need to contact the school and tell them you are out of work and ask if you are eligible for a special circumstances adjustment. They will ask for documentation proving your situation. If the adjustment is approved they will make adjustments to your FAFSA. Finaid has some more information here</p>

<p>FinAid</a> | Professional Judgment | Special Circumstances</p>

<p>crossposted with hsm</p>

<p>So I have to wait until I've been officially deemed non-eligible before I call the university? Or can I talk to them while my FAFSA is pending???</p>

<p>You can talk to them whenever you want and ask how you should proceed. FAFSA itself It is the school that puts together a financial aid package.does not deem you eligible or non eligible. The way FAFSA works is it produces an EFC (Expected Family Contribution) which the school gets and uses to estimate your 'need' by deducting your EFC from their COA (Cost Of Attendance). If they approve an adjustment they go in an adjust the FAFSA figures which produces a new EFC. They cannot make adjustments to FAFSA till it is processed. But they can tell you what you need to provide in the way of documentation.</p>

<p>We had a special circumstances adjustment last year. We submitted FAFSA then contacted the school. They did not proceed in making a financial aid package until we had provided the documentation they requested, approved the changes, adjusted our FAFSA and received a new EFC from FAFSA.</p>