Our income dropped last year, and it appears we’d be Pell Grant eligible if we use 2016 taxes. However, I filed the FAFSA in November with the 2015 tax info. Is it possible to update FAFSA with last year’s taxes? What have people done if there’s a change in income?
You can file a special circumstances consideration with the college.
But don’t hold your breath…because they will use the 2016 income next year
But you can try…
Ok, thanks. I emailed the college, so we’ll see what they say.
The thing is…the 2017-2018 FAFSA uses 2015 income. That can’t be changed.
See what the school says… but don’t be surprised if they do not make an adjustment. That was your income in 2015…and you were not Pell eligible because of it.
Got it. So we will be Pell Grant eligible next year.
When you complete the 2018-2019 fafsa, you will be using that income tax return information from 2016.
I can’t tell you if you will be Pell eligible …or not…because other things are also considered in the formula…parent assets, student income (unless work study), student assets.
No one knows your family assets next year.
I know they’re going down. 
The school said they have a “special circumstances” form to fill out.