<p>My dad is our only source of income, but he makes over 100k a year, so i received no financial aid from the UC's, FAFSA, or the Cal Grant, but he and the rest of his branch are getting laid off in June, so our income is going to drop to 0k a year without welfare, would i still be able to apply for financial aid then?</p>
<p>Why are you assuming that your dad won’t find another job or that maybe both your mom and dad might find jobs? Sometimes when a single-earner gets laid-off, both parents find “lesser jobs” to try to keep the mortgage paid and food on the table.</p>
<p>Schools don’t just adjust aid without giving some time to determine whether the parent(s) find employment.</p>
<p>And, your dad will have worked half a year by then, so he’ll have earned at least $50k (maybe more with severance pay and vacation pay). Your dad may also have to do some kind of 401k withdrawal which will also be an issue. </p>
<p>I think you need to have a talk with your parents because you may not get the aid that you will need.</p>
<p>Did you apply to any CSUs or UCs that you can commute to? Did you receive any merit scholarships anywhere?</p>
<p>Kelsmom and some other financial aid people here can more precisely explain what happens in this situation. My understanding is that once your father is actually unemployed, you can notify the schools financial aid office and they are permitted to use a “dislocated worker” professional judgment to adjust your FAFSA. Doing so will take into account the decrease in your family income rather than using 2010 figures which is what all aid calculators use in coming up with aid packages for the 2011-12 school year. How much difference that is going to make depends on the school. A change in the FAFSA may not net you anything as your income has to be below the $5K mark to be PELL grant eligible. Maybe you can get some Stafford loan subsidies, but I don’t see much more that the government is going to give. As for the school itself, it is entirely up to them, their policies and what they have left in their coffers. You can ask them what a likely scenario would be should this happen with your parent, but I doubt they will make any hard commitment.</p>
<p>If this is a real possibility, it might be a good idea to take a gap year if you can. See if things stabilize next year. if your father is still unemployed by the end of this year, your financial aid might look quite different for the next year. Also if things are so unsteady, it might be a good idea to find a local college where you can commute and not have the expenses that room and board bring.</p>