<p>I just learned two days ago that my mother is being let go from her job effective in August. Obviously, this will take a large toll on our family's financial situation. My father is currently unemployed, and my mother's job, while not very high-paying, is the source of our family's health insurance.</p>
<p>My question is, should I update the schools to which I applied for transfer about the situation? I have applied to Pomona College, Occidental College, Case Western Reserve University, and Carnegie Mellon University for Fall 2009 transfer admission. Will this sort of information hurt my chances of admission? My family's FAFSA information cannot be updated now, so I guess this would be a special appeal of sorts. </p>
<p>Some of the schools have a special circumstances form for you to fill out, others you just send a letter requesting reconsideration of their financial aid award due to special or changed circumstances. Explain everything, particularly why the income submitted in the FAFSA (for '08) won’t reflect income for ‘09. Do it soon-- start by calling each schools’ financial aid office.</p>
<p>The expect these sorts of appeals, and are prepared to adjust awards where necessary.</p>
<p>Why should a college reconsider based on a future event?</p>
<p>First, it hasn’t even happened yet.
Second, it may not happen.
Third, the mother has time to seek other employment.
Fourth, its for the tail end of the year and any reduction in income will be reflected on the 2010 FAFSA.</p>
<p>Not that I don’t sympathize, but just be aware that not everyone will be willing to help you out.</p>
<p>You should, however don’t expect it to impact this year’s aid. It will very much impact next year’s, however they don’t generally increase aid based on something that hasn’t happened. It is really just very unfortunate timing :(.</p>
<p>Tell them. They won’t adjust aid now (she could find another job, or they could decide to keep her longer). But, in August, they should be willing to adjust your aid. Then the issue is whether any aid is left for them to give.</p>
<p>I would not tell them now, but wait until after admission.</p>
<p>After you get your fin aid package, you would respectfully submit your appeal based on the special circumstances.
The US Dept of Ed just put out a memo to all colleges about adjusting fin aid for circumstances such as yours…so you may find with proof, some readjustment.</p>
<p>Also, I would have a financial safety lined up–is there one on your list?</p>