Hey everyone, i was hoping someone would be kind enough to help me with this. So, I just completed my Fafsa appliction for next year and at the end the EFC was much higher than last year . I believe it is because my parent’s AGI came in at around $52,000 this year while last year it was $23,000. The problem is that the reason why my parent’s AGI is so high is because for some reason (i really dont know how it works) my father received about $30,000 Dollars at the beginning of last year because he is retired. He says that this year he will not be receiving so much money so our AGI for this year would probably be back at around $23,000. My father is retired and my mother does not work. The rest of the income came from my mother who was getting paid to care for my grandmother who is now deceased which means that income would be gone as well. My parents do not think they would be able to pay for it next year. Do you think there is anyway i can get my situation explained and maybe fixed? If so, who would i need to speak to? Thank you.
Well, income is income. The EFC is based on the income of previous year and assets. You may talk to the financial office to see if they can offer any help.
Meet with the financial aid office, and ask about filing special circumstance paperwork. They may be able to adjust your aid in a way that accounts for the unusual circumstance. If not, find out what is likely to happen if you take a year off and then return to school after your family’s income is back at the original level.