<p>I've been admitted into some of my top choice schools, but have been a bit disappointed with the aid I've gotten. I've also had a change of circumstances (parent laid off) where my parents 2009 income will be lower than 2008. I know on the financial aid websites of my colleges they have a form to fill out to appeal the decision, but is there anything else I can do other than send a letter and fill out the form? </p>
<p>Also, if I do get more aid, will it be merit aid or a larger stafford loan or something?</p>
<p>Lastly, the income for 2008 I estimated on my FAFSA/CSS was lower than what my parents actualy made. Since the appeal form requires a copy of my parents taxes and the colleges will obviously see that the income is higher than what was reported on the FAFSA/CSS (and yes I did update my FAFSA, but only a few days ago) is there any chance that the aid I have already recieved would be taken away because of this difference?</p>
<p>Any aid you received based on estimates was also an estimate. Once you finalize your FAFSA/Profile with ACCURATE figures from your 2008 tax return, yes…there is a possibility that your aid will be adjusted (DD had her award reduced by ONE school by $6000…two others didn’t touch it at all). </p>
<p>Re: your recent loss of income. The FAFSA/Profile rely largely on your INCOME from 2008 with the supposition that some of that will have been set aside for college expenses if the income supports that. </p>
<p>Certainly, you can send in a letter to the colleges asking them to review your family’s new job situation. The colleges have the option of deciding whether or not to consider a special circumstances adjustment. Many schools require that the person be unemployed for a certain period of time before they will consider this (remember…some folks get laid off…but then they find jobs). Also, if your parent had any kind of severance package, this will be considered income for this year. Also, unemployment benefits are considered as well.</p>
<p>Be prepared to have documentation of your reduced income in the form of lay off notice, etc.</p>
Yes it is very likely. Your aid is based on your financial information. If your income is higher than that initially reported then it will likely be adjusted to reflect this as your need will be lower (especially if your full need was met).</p>
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Impossible for us to say. Depends on the school. The max Stafford for a freshman is $5500. If you have already been offered this they cannot increase it.</p>
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It can’t hurt to ask. They may be willing to adjust for this now, but may may only be willing to consider it later.</p>
<p>You can talk to the financial aid office, letting them know your circumstances. One son was finding that his living expenses were greater than what the school was using. He brought in receipts and was able to get an adjustment to his aid package.</p>