Should I be worried?

Paying for College
1

<p>Hello all.</p>

<p>I am going to be an incoming freshman at a private university in CA this coming fall. When I filled out FAFSA in January, my EFC was 9k. My mother then filled out her taxes and we realized her income was above the ceiling for cal grant by about 2k. She diverted about 5k into an IRA to lower her income.</p>

<p>I submitted my tax returns to the financial aid office at my college and they altered my fafsa. Now I'm expected to contribute 15,000. I'm a little shocked and worried. Do I have a strong chance of losing my cal grant?</p>

2

<p>Print your new SAR and check it against your old one to see what changed and why. The $5K IRA contribution was likely added back but that doesn’t seem enough to explain that level of increase. I know that won’t answer your grant question, hopefully someone with Calgrant experience will weigh in on that, but you do need to make sure the changes made were correct first.</p>