<p>hi i plan on attending ucd or uci next fall and am getting prepared to file fafsa. For this year the income tax filed was less than 10000 a year (sadly) and last years was (30000). My father lost his job and didn't work for about 10 months and is still unemployed. Im confused whether i can afford college at the moment because of the current financial situation and the economic crisis. Also for fafsa will the reviewers see that we lost all the little assets we had and allow me to get grants and loans?</p>
<p>My condolences on your situation. FAFSA will show what assets are available. Your financial situation will show you have great need (probably a 0 EFC), but as to how schools can fill that with grants vs. loans it will depend on the school (and right now California is having problems making ends meet). As an alternative I would consider starting in CC which should be reasonably priced and allow you to transfer to a UC later.</p>
<p>If your parents filed a 1040A or 1040EZ last year (or were eligible to, even if they actually filed a 1040) AND if their income was below $30K, you will get an automatic 0 from FAFSA - no assets or student income will be considered. So you’d be eligible for a full Pell ($5350 for this year, going to $5500 next year I think), ACG of $750 if you meet the criteria, $5500 Stafford loans, and likely FSEOG, work study, and Perkins loans. Make sure you also file for state grants on time and get the school whatever else they may need by the priority deadline.</p>
<p>You will probably end p with a lot of loans, but with a zero EFC a UC should be doable.</p>