<p>I was selected by FAFSA for verification. On the verification form, I am required to report my assets, although I did not need to on my FAFSA, since my family's income level qualifies for the simplified needs test. My parents' assets exceed the Cal Grant asset ceiling, but income is significantly below the income ceiling.</p>
<p>I am told my package is conditional for the next year and can change based on this verification. I am afraid I will not get any of the Cal Grants because I will be disqualified for exceeding the asset ceiling. The financial aid officer did not give me a straight answer and said it would depend on all the different factors, so I really don't know what to expect.</p>
<p>One of my parents cannot work anymore, and the other works a low-wage job. Although the savings seems like a lot, it is our life savings, as well as the money from which grad school was supposed to come from. If I lose my Cal Grant, I will have to commute from home, and it will still be a strain on our finances in the long run. </p>
<p>Has anyone been in a similar situation or knows whether I will lose all of my Cal Grant money? Also - if I tried to appeal or explain my situation with the form, do you think it will make a difference?</p>
<p>What is there to explain? Your family is low income, but has savings. Seems pretty straightforward to me. Submit the form and see what happens.</p>
<p>If you end up losing your Cal Grant, you can appeal to your college for additional aid - they might be able to give you money even if Cal Grant doesn’t.</p>
<p>Hi, thank you for responding and thank you for the luck! </p>
<p>I realize I can’t really change the results and am in the process of finishing the form, but I was wondering if anyone have gone through a similar situation. Cal Grants makes up the majority of my aid, so I’m quite sure I will not be able to make up for the lost amount through school or private scholarships if the worst happens.</p>
<p>“Anyone” may not have the exact situation that you do so don’t hold your breath. </p>
<p>They don’t consider home equity, retirement funds, prepaid tuition or life insurance. But they don’t look at any funds as ‘reserved for grad school.’ </p>