Sudden drop in income

<p>I'm a rising senior for the class of 2013. I just have a quick financial aid question. Since my father died when I was 3, my family receives Social Security Survivors benefits which make up a large part of our income. The problem is my sister turns 16 about a month after I'm going to fill out my financial aid application after which I'm pretty sure our income will be significantly reduced. Will colleges take this into account when awarding financial aid?</p>

<p>SSI or survivors benefits are not reported in FAFSA.</p>

<p>I’m not sure about CSS.</p>

<p>Well, that’s interesting.</p>

<p>I’m pretty sure without survivors benefits my family’s income will be very, very low.</p>

<p>Or does it just count as part of some big income number but isn’t reported specifically?</p>

<p>Here is the link to the FAFSA formula for 2012-2013. Run your family’s numbers through it and see what things look like. <a href=“http://studentaid.ed.gov/sites/default/files/2012-13-efc-forumula.pdf[/url]”>http://studentaid.ed.gov/sites/default/files/2012-13-efc-forumula.pdf&lt;/a&gt; As others have said, the CSS Profile formula is different. For an idea of how that one works for each of the places on your list that require it, run the Net Price Calculators at their websites.</p>