Our AGI is down about $3,500 this year. Our EFC last year was in the 5600 range. A quick check online says the drop might put us in the range for a Pell Grant, but it’s hard to say for sure. Since we can’t use our 2016 tax info for the 2017 FAFSA, would you think it was worth the effort to talk to our daughter’s financial aid office to see if she might qualify, or do you think the income drop is not significant enough to bother?
It’s not going to drop your EFC by much. You might just ask your FA office what you should do and they can tell you if they are considering profession judgment for drops in 2016 income.
You can ask…but I doubt it. Your 2016 income will be used for the 2018-2019 fafsa. So…that’s when you will qualify for the portion of the Pell.