<p>Just a quick question. On the Fafsa, it says that special situations such as significant income change should be discussed with the school's financial aid office. What would be considered a significant amount?</p>
<p>In my particular situation, my stepdad had at least $3-4K extra from overtime in 2012, bringing us up to about $59K total. Obviously not as drastic as a parent losing a job, but that isn't going to stick around, and if it'll help to discuss it... So is that enough of a difference that I should talk with Financial Aid after taxes are done, or just ignore it until next year's?</p>
<p>Why don’t you run the numbers both way and see what the differnce is, and when it comes time to address financial aid with some schools, do let them know this, and they can then make a professional judgement on it.</p>
<p>Unless you are applying to a school that guarantees to meet full need, however, it is likely not to make a difference since the chances of getting your full EFC met are usually small. But who is to say for sure? You want the matter out there just in case, right? So put together a letter and see what happens.</p>
<p>I don’t think it will fly, because the way it works except for in cases like a job loss, illness, death, is that your family is supposed to use the actual income from the prior year for the next year, and any adjustments like overtime or some cut in pay are taken into account year to year. When your family income goes down in 2013, or “if” is what I should be saying, since your stepdad might get the same amount of overtime or even more, the adjustment is made in the next year’s award. So it’s not as though you are stuck with that income number for all four years. </p>
<p>But different schools and people may look at it in different ways, so a note to financial aid should flag the issue and if a college will take note of it, then good for you.</p>