And that might work if the school has need based financial aid to give. Many do not, so even if a parent lost a job the school might do a professional judgment override for Pell or SEOG or work study, but there still could be a big gap. My daughter’s school has some $1k and $2k alumni grants for financial aid, but really no need based financial aid. Almost all aid is tied to merit awards, department awards, talent, etc. Once you max out on federal need based grants, you are sort of on your own.