Imagine you don’t apply for financial aid freshman year because your parents have a high enough salary to pay for your education. But then one of your parents loses a job before you graduate from college. Can you still apply for aid in future years if your circumstances change dramatically?
This happened to us. DH lost his job first semester of DS’s freshman year. We contacted the school to get information about a review of our financial aid. In the case of our kid’s college…they didn’t even consider this until 3 months after the layoff occurred. We needed to provide them with the layoff notice from the company, all information about severance and unemployment. After 90 days they would review this.
The school’s assumption was that folks would look for, and get jobs. Luckily that ismwhat happened here.
Oh…and the school wanted to be able to compare our financial need prior to the job layoff to after. Luckily we had completed the financial aid forms…so they had those.
Thanks. Glad your spouse found a job.
You can ALWAYS file a FAFSA form, but now that they use the prior prior income, it’s likely you’d have to file an appeal. A very few schools do not allow you to apply for their aid in later years if you do not apply as a freshman, but I’d imagine even those schools would allow it if there is a big change of circumstances.