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How do you notify FASFA of a change in your income?

If it changes in the middle of the year, how do I tell them that the taxes two years ago no longer reflect my current state?
#FASFA #college #financial-aid

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Sherri’s Answer

Hi, that is an excellent question-if you have special circumstances that would allow for an adjustment to reflect your most current situation, you would need to meet with your financial aid office at the college you are attending. There is a process called professional judgment which you may qualify for. There are some steps depending on the reason for a decline in income.

Sherri recommends the following next steps:

Depending on the circumstances for the change in income-gather as many documents that would substantiate your request. (Laid off-notice from unemployment office to validate) divorce or separation from spouse (court documents)-these are just some examples.
Contact the financial aid office to discuss the change and what they may require.
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Kimberly’s Answer

Good question. You should always complete the FAFSA using the tax year stated on the FAFSA application . However, sometimes that doesnt reflect your current situation and your ability to contribute to the cost of your education so financial aid advisors have the ability to make a professional judgment. Contact your financial aid advisor and explain your current situation and they can decide if a professional judgment is necessary and provide you with any additional documents you might need.

Kimberly recommends the following next steps:

Speak with financial aid counselor.
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Cindy’s Answer

You can call them at1-800-433-3243. Or go back in and make a change. You will then send it to be processed. All of the colleges you listed will get the updated information.

Cindy recommends the following next steps:

Check email
Contact college you will be attending to make sure they received it. Give about five to seven days.
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Elizabeth’s Answer

Contact your financial aid office and inform them that your financial information has changed. They may ask more questions and request documents to see if you are eligible for professional judgment. Professional judgment is where financial aid determines that your current situation (decrease in income) in other words if initially when you filed your FASFA application you did not qualify for Pell grant, now you may. If financial aid officer deems to believe you qualify for professional judgment, the "officer" goes into your application and makes the adjustments to your FASFA application. Please be aware whether it's school's policy or Department of Education either or both may now request to have your application verified.

Elizabeth recommends the following next steps:

Contact financial aid office
Explain situation and get ducments ready
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