Subscribe in a reader06.18.09 | How is FAFSA impacted by a decreased family income?
With the unemployment rate nearing double digits it’s no surprise that household incomes have come spiraling downward. Many have lost their jobs and are collecting unemployment at a fraction of their former pay. The concern many students have is that their FAFSA is now overstating their family income, and that the 2008 numbers they submitted are not accurately portraying their need. But no worries, you can make an adjustment at the school level.
If your household income has decreased you may request a special circumstance adjustment from the financial aid office. The change in income must be greater than 10% in most cases to be eligible for consideration. Loss of job, costly medical bills, and divorce are all common special circumstances a financial aid officer will consider in issuing a professional overturn. For more infomration speak with your school’s FAO.
The FAFSA blog is sponsored in part by:
Five most recent FAFSA form help blog posts:
This blog is sponsored in part by:
