<p>My father has been unemployed for two years. My mother's full time job was terminated yesterday, but she might be able to find another job. She is a nurse and she has a part time nursing job, but she only works a few days per month in the part time job.</p>
<p>Should I fax a letter to my university's financial aid office stating that my mother is out of full time work and is looking for a new full time job? Also, would it be required to notify my university's financial aid office if she gets a new full time job? </p>
<p>If my financial aid package includes loans, would it be impossible for my mother to get a parent loan or federal loan if she only has a part time job or has a full time job that pays less (somewhere around $30,000-$40,000 per year)?</p>
<p>Schools may not adjust your FA package since your mom was just laid off. They often will wait a few months to see if she finds another job. </p>
<p>I don’t know what the policy is if they do adjust your aid, and then she finds a job. </p>
<p>If your mom’s credit is good she can still qualify for a Parent loan…however, since the family finances are precarious, it’s not a good idea for her to take one on. Think about it…if your mom is only making $40k per year WHY would you even be asking that question???</p>
<p>It sounds like this school may be too expensive.</p>
<p>Are you an incoming frosh? How much is your family supposed to pay?</p>
<p>How likely is it that your dad will get some kind of work? It sounds like at this point, he may have to take something…even if it’s not in his field.</p>
<p>This coming school year is my senior year, so delaying graduation or transferring are out of the question. My father is still looking for a job (mostly in fields not related to his past career). My mother has a lot of job prospects/possibilities, which hopefully, one will hire her.</p>
<p>My university is about $52,000 per year (if I live at home, it’s around $45,000), but I have a $5500 scholarship through my university and a $1000 scholarship from an outside foundation. Usually, I also get federal student loans (about $7500 per year). I might be living at home this coming school year to save money on food and living expenses.</p>
<p>It is quite a bit, but I don’t want to wait for graduation. I will be applying for PhD programs (which have funding through TAships), so grad school should be covered.</p>
<p>Are you saying that you only get 5500 from this university? Is this USC? Is this because your mom’s income was high enough that you didn’t qualify for any more aid (besides loans??)</p>
<p>How far is your home from school?</p>
<p>I don’t know if the Parent Plus loans can be delayed til after grad school. If not, how are those going to get paid back?</p>
<p>This past school year, I also got a $15,000 grant. At this time last year, my mother’s income was around $50,000-$60,000. Hopefully, she gets a job offer that’s at least around the same range or higher.</p>
<p>My home is about 20-30 minutes without traffic and about 30-40 minutes with traffic. If I live at home, my mother might not have to take as much for loans.</p>
<p>How come you won’t get the $15k grant this year? </p>
<p>It sounds like your mom has been paying about $25k per year for college? Is that right? how has she been doing that on that salary? Has she been taking out loans all along?</p>
<p>Does this school “meet need”? </p>
<p>Yes…you need to commute.</p>
<p>My financial aid package has not been released, yet. On my freshman year, I was at another university, withdrew, and took community college classes during the Spring. Most of the loan amounts have been from Sophomore year (when I started at this university) to this coming school year.</p>
<p>This school does “meet need”. My mother has paid $17,000-23,000 per year. Hopefully, my mother can find a job similar to her former career that pays the same amount or more. My father is applying to various places, so hopefully, he will get a job offer from one of them.</p>
<p>By all means, let them know and send any supporting documentation. I believe that there is the leeway to categorize a parent as a displace worker which may result in some federal money. However, in that case, it comes down to the PELL grant and subsidization of loans most of the time. How the university would treat the situation is entirely up to them when it comes to their own funds. The way it is supposed to work is that the aid is determined by family income in the calender year prior to an academic year. The displaced worker situation is an exception to that rule, but not all colleges treat it as such.</p>