<p>I have a new HS senior daughter and a freshman sibling with special needs. Where do I start to find out how this will affect financial aid application and all the other items that may be affected.</p>
<p>I have a small percentage ownership in a private company worth in the very low 6 figures. The ownership is not liquid (I can't sell and maintain my position in the company) and it looks like the finaid calc doesn't take this into account. Is there any general guideline about this?</p>
<p>If having a special needs daughter causes you to incur extra costs such as medical costs you may be able to ask for a special circumstances adjustment to reflect those costs.</p>
<p>FinAid</a> | Professional Judgment | Special Circumstances</p>
<p>FinAid</a> | Professional Judgment | Principles of Professional Judgment</p>
<p>Our experience of a special circumstances adjustment was that we had high medical expenses one year due to my husband's illness and also loss of income because my daughter had been receiving SS payments because her dad was retired and which stopped once she turned 18.. We had to fill out FAFSA as normal. Then the financial aid office requested us to provide documentation of all our medical costs and documented proof of the loss of income (it was a stack about 1 - 1 1/2 inches thick). Once they verified the expenses and the loss of income they went in and adjusted our income on FAFSA by the loss of income and by the medical expenses (adjusted by an amount that is already allowed for medical expenses in the income protection in the EFC formula). The new numbers were then run through the EFC formula producing a new EFC.</p>
<p>Not to hijack your thread, str, but you have a similar situation to ours SCM and I'd appreciate your knowledge. My D has been receiving SS Disability benefits because her non-custodial parent is disabled. This will end next August, just as she's starting college. Is that considered her income because it's paid to me for her benefit or hers? Is there a place on FAFSA and Profile to reflect/explain upcoming events like that or should it be apparent to fin aid officers that over 18's do not receive benefits?</p>
<p>I don't know about profile but for FAFSA you have to initially enter it as income. There is no place on FAFSA that allows you to indicate that the benefits will cease so you have to then contact the financial aid people and tell them that there are benefits that will cease and ask for a special circumstances adjustment adjustment to reflect loss of benefits. (financial officers won't generally have any way of telling from FAFSA what benefits will or will not cease as it is just a $ number you enter and i think they just look at the EFC produced by the formula unless you are verified - which happens to @ 1/3 of FAFSA's so don't freak out if you are selected).</p>
<p>If the benefits are paid to you rather than to your daughter I think you put it on the WS as your income. My daughter's was paid to her after she turned 16 - I put it down as ours thinking that is what the FAFSA instructions said but when we were verified the FA officer changed it and put it as hers. Then after the special circumstances adjustment was approved it was removed completely.</p>
<p>By the way if you receive child support that will cease you can also ask for an adjustment to reflect that.</p>