My wife just lost her job bcz the employer closed the business in 2018/1. Is she the dislocated worker in FAFSA 2018-2091?
This will ONLY help you IF your income is below $50,000 for the 2016 tax year…because THAT is what is used for the 2018-2019 FAFSA form.
Dislocated worker status is ONE of the second qualifiers for the simplified needs test whereby your assets would not be considered (income below $49,999)… OR for auto $0 EFC per FAFSA (income below $25,000 a year, I believe)
If your income is above $50,000 for the year, this status won’t benefit you at all.
Also, this doesn’t matter at all for Profile schools.
@thumper1 Thank for your information. My FAFSA EFC did change. Three schools awarded me the financial aid pkgs already based my previous FAFSA EFC. What shall I do?
Do your colleges meet full need for all?
You can contact the colleges and didn’t ask them what to do in light of the loss of one income. They will tell you what to do. This would likely require a special circumstances request based on job loss. These are done on a case by case basis…and each college has a procedure for this.
Some colleges will NOT look at this lob loss until a certain number of days after the loss happens. When we looked into this…our kid’s college wouldn’t consider the job loss until 4 months post job loss. But we got all the information we needed anyway…just in case we needed it.
In addition…did your wife receive any severance? Is she collecting unemployment? Both are considered.