<p>Financial Aid Change in Circumstance advice?
I posted the following on the parent's discussion board and they suggested I post here. . .</p>
<p>Hi. If possible, would someone read this and offer me any possible advice? . . . My daughter will be a freshman this year at UC Davis. This past year her father and I have separated after 23 years of marriage. It was nothing I ever expected. I was a stay-at-home mom the entire marriage and now, in this ecomony and my lack of experience, it is difficult finding a job. We sold our marital home and I was able to purchase a place of my own. I did not qualify for a mortage because of my unemployment, but was able to find a home and paid cash. When my daughter and I filed this year's FAFSA, the income tax info we provided was based solely on my husband's income. He earned too much for my daughter to qualify. However, I am the one who is helping her through school; as he is no longer reliable in his mid-life-crisis. Without a job, I do not qualify for any loans. We appealed to her financial aid office, however they believe I can be responsible for 20,000 towards her schooling because I have a bank account of 50,000. I am 50 years old, can't find a job, will lose my health insurance when the divorce is finale. I need that money to live, however, they seem to look at is as if I am not in a bind. My apologies in advance if this is not making sense. My question basically is what kind of loans should my daughter or myself look into?</p>
<p>I don’t know much about what kinds of loans you can qualify for now, but has your daughter considered contacting UC Davis to delay her entrance? If she has financial reasons the college (to my knowledge) will most likely let her take a year off to work and save up money.</p>
<p>If you were separated (even if not divorced) when you filed your FAFSA you should have filed as separated/divorced and ONLY included your income, and half of your joint assets (bank accounts) but ONLY IF YOU WERE THE CUSTODIAL PARENT OF THIS DAUGHTER.</p>
<p>If YOU (the mom) were the custodial parent meaning the daughter lived with you only greater than 1/2 of the time, AND you were already separated from the husband and he was living elsewhere…you would use your information only.</p>
<p>HOWEVER…if you had joint custody of the daughter and she lived equally with you and husband…then FAFSA guidelines say the parent who contributed MOST of the support would file the FAFSA. AND if the daughter lived with her dad most of the time…his financial info would go on the forms.</p>
<p>Also…unanswered question…and a finaid officer WILL be curious about this…if you had NO income…how were your bills paid? Was someone paying bills on yours or your daughter’s behalf (that would be your costs for living expenses…they certainly are not free), those would also be factored into the financial aid equation. </p>
<p>I believe that whenever anyone says they have no income, the financial aid folks will be interested in knowing just how the cost of living bills are paid. Someone surely had to be paying the bills. </p>
<p>In any event…contact the school. You will be asked to verify in WRITING any information that you feel contributes to your financial change in circumstances. I agree, this is worth your effort.</p>
<p>You will be unable to find an answer here. Your situation requires a professional judgment determination that only a financial aid professional at your D’s school can provide. Contact the aid office & explain your situation. Ask how to file a special circumstances appeal. You will have an opportunity to explain your situation. They do not have to make any changes to your data, but they may decide to do so. Do this as soon as possible.</p>
<p>Thank you for taking the time to answer my post. My daughter and I have met with the aid office. My error was in the FAFSA; which we have since emended. I appreciate each of your responses. :)</p>