<p>Hi, I am new to this forum, and want to say it looks pretty nice (that is for the mods, lol).</p>
<p>I am going to be 50-- a non-traditional student. I lost everything in the economic down turn, (job included) so I am boke, bankrupt and pretty much on the homeless side. </p>
<p>I am going for my Master's degree, with a bid in at another school to get a teaching certificate if the masters does not pan out. So, question: Do I ask for both graduate and undergraduate money? </p>
<p>Since my income is way less than 10K per year, probably in the 5K range if that, I know I have nothing to worry about as far as "need." Now, this is important: Since I have to use last year's taxes for the financial aid forms, will they assume that I am still making that much? I made about 12K because I was fired at 1/2 of the year, and I also got some money from my retirement income to live on, and 1/2 year of unemployment insurance, a grand total of about 20K. Over poverty level. </p>
<p>Do they look at your situation now, or look at the situation last tax period. How can I inform them that I am now dirt poor and making next to nothing (and no one is supporting me, I am living in a basement and paying rent). </p>
<p>So what do they look at as an indication of need-- what went on then, or what is going on now? </p>
<p>Thanks, Zenyatta</p>
<p>As far as federal aid is concerned you can only get it at one school at a time. If you already have a bachelors degree the only federal aid you will be eligible for is probably loans and possibly work study (though it is late in the day for that as the WS funds are limited). The main fed grant, the Pell grant, is not available to students that already have a bachelors. Most other fed grants require Pell eligibility. I am not sure about the teach grant, a grant for teachers. It requires a commitment to teach in certain areas for a certain period of time, or it reverts back to being an unsubsidized loan.</p>
<p>You have to file FAFSA based on what your actual income was in the base year. So if you are filing now for the 2009-2010 school year then that would be the 2008 taxes. You can ask the school financial aid officer for a special circumstances adjustment to reflect your change in circumstances. It is at their discretion whether they do so or not. If they do then they can go in and adjust your FAFSA to reflect the change - you cannot do this.</p>
<p>So, I was told to apply for the FAFSA for the loans. Basically, they know I will not get any money, just the loans. I probably won’t know if I get admitted to either school but I can apply to both. Either way (graduate or undergraduate) I need to do it on loans only. I understand I am not eligible for grants, and only loans. I plan on going next January, not now. Loan wise-- I can still get the loan on need with 20K. And I will probably be working part time at least.</p>
<p>Use your 2008 income & don’t worry about a special circumstances request. You are going to have a low enough EFC with the actual 2008 income - all you can get is a limited amount of subsidized loan, anyway, and unsubsidized for the rest. If you are in a certificate program, the amount you can borrow may be limited. You’ll be able to borrow more as a grad student than you will as an undergrad/certificate student.</p>