<p>Hi, all -
S1 just began senior year, has ACT of 29, SAT (CR+M) of 1320 and unweighted GPA of 3.0 in mostly honors and AP classes. We plan to fill out the FAFSA in January.
My question is this: My 56-year-old husband is retiring from the Army Reserve in November after 36 years of combined active and reserve duty. I know the FAFSA is based on your AGI from the previous year, but, as we are losing my husband's Reserve income, it will not accruately reflect our income after January 1. What should we do? Is there space on the FAFSA to explain this or do we need to go to the individual schools? Despite much prodding from me, S is only interested in two: a relatively inexpensive no-name regional university (but with an award-winning program in his major) and an OOS flagship. Thanks!</p>
<p>There is no way of reflecting this on FAFSA. You will have to submit FAFSA with the 2009 tax data then ask for a special circumstances adjustment from each school’s financial aid office.</p>
<p>Thanks for the info - maybe his being interested in only two schools is a good thing in this case.</p>
<p>Realize that some schools will grant an adjustment but many won’t. Your EFC is based on the previous year’s income. Colleges don’t expect you to just pay out of current income, they expect you to have saved and to be willing to borrow. </p>
<p>Since most state schools don’t meet need, and almost no state schools meet need for OOS students, you can’t count on getting a break here. Make sure your son applies to a school you can afford based on the past year’s income.</p>
<p>When my eldest daughter was a senior in HS I filed the FAFSA as a single parent. </p>
<p>I remarried just prior to her starting her Freshman year. DH retired 6 weeks after that.</p>
<p>So when we filled out the FAFSA for her Sophomore year, it reflected DH’s salary, which no longer existed.</p>
<p>We wrote a letter to the FA office and they adjusted the financial aid award to reflect the new circumstance.</p>
<p>Good luck!</p>