I am a rising junior. I received my financial aid package recently and it decreased by $4k, while tuition increased. Is it worth it to appeal? I submitted the same taxes that I submitted last year. The only thing I can think of is how I had to include 2017 estimates, but even then there was no significant increase in my parents’ income. I want to appeal if I can get the $4k back, but I don’t want to risk a reduction in financial aid.
You won’t get a reduction if you appeal. What do you mean when you say this?
Last year, you would have submitted 2015 tax returns. For this year’s aid, you have to submit the 2016 tax returns. Did your parents file 2016 taxes?
Another question: Do you have an older sibling who was in college but is no longer?
@brantly I’m sorry, that was said without context. I submitted 2015 and 2016 taxes last year because my school asked for 2016 taxes.
No, I do not have an older sibling. Thank you!
For the 2017-2018 academic year, your college used the 2015 tax information. That you were asked to provide 2016 is just not relevant to how they calculated your aid for the 2017-2018 academic year.
For 2018-2019, the 2016 tax information was used.
So…was there a difference in income between 2015 info and 2016 info??
What was the $4k lost? A one time merit award? An alum ‘named’ scholarship? An award to a freshman specifically for housing or getting 'set up for college?
It might not have anything to do with your need. If it was SEOG, the school might just have run out of money this year.
@thumper1 My parents’ 2016 earnings were a significant decrease from 2015.
@twoinanddone It was a need-based scholarship from alumni funds. I think they might’ve run out of money; it makes sense.
Thanks!