FAFSA SAI still 80K despite parents' job loss - does cash savings affect SAI calculation?

Yes, the SAI calculation is likely correct based on the information you provided. The FAFSA formula considers both income AND assets in determining your aid eligibility. The $300K in savings is considered an asset and will significantly impact your SAI calculation, even with current zero income. The good news is you absolutely can appeal your financial aid package through a process called Professional Judgment (PJ) or Special Circumstances review. Contact your school's financial aid office immediately and request a form for "change in income" or "special circumstances appeal." You'll need to provide documentation of both parents' job losses (termination letters, unemployment benefit statements, etc.). Each school handles these appeals differently, so be prepared to follow their specific process carefully.

this happened to my cousin last yr. the financial aid ppl dont care if ur parents lost jobs after the tax forms. its all abuot what happened in the reporting yr. its SO stupid

The FAFSA formula includes an asset protection allowance, but at $300K in cash, you'll definitely have a high contribution expected from assets. For dependent students, parents' assets are assessed at up to 5.64% after certain protections. So roughly, they might expect your family to contribute around $17K per year just from assets alone (very approximate). Your parents should definitely appeal with your school's financial aid office based on the job losses. The standard FAFSA doesn't capture changes in circumstances that happen after the tax year being used.

You mentioned your dad was employed during the "tax year they used for calculation" - if you're applying for 2025-2026 aid, they're using 2023 tax information. There's a substantial disconnect between your data year and attendance year, which is exactly what the special circumstances appeal process is designed to address. Documentation is CRITICAL. Gather unemployment filings, termination notices, recent bank statements, and a detailed budget showing how your family will cover basic expenses during the unemployment period. The financial aid officers have discretion but need solid evidence to adjust your SAI.

have ur parents moved any money into retirement accounts?? fafsa doesnt count retirement savings!!!! might be too late now but for future could help

I spent THREE WEEKS trying to reach someone at Federal Student Aid to ask about a similar situation with my dad's job loss. Kept getting disconnected or waiting for hours!!! Finally used this service called Claimyr (claimyr.com) that got me connected to a real FSA agent in less than 15 minutes. They have a demo video showing how it works: https://youtu.be/TbC8dZQWYNQ The agent confirmed that I needed to go through my school's financial aid office for an appeal, not through FSA directly. Saved me so much wasted time and frustration.

To address your question about the appeal - each school has different policies, but most will consider: 1. Current income projections for both parents 2. Duration of unemployment 3. Job search efforts 4. Any severance packages received 5. Unemployment benefits 6. Essential living expenses Regarding assets - your parents' age factors into how much of their savings is protected for retirement. The formula acknowledges they need savings for their future. Also, some schools offer payment plans that might help manage cash flow while preserving some savings.

@OP - You asked if your SAI should be lower than $80K with zero income but $300K in assets. The answer is: it depends on several factors including your parents' age (older parents get more asset protection), whether you have siblings in college simultaneously, and how your school's financial aid office evaluates special circumstances. The base FAFSA formula would still generate a significant SAI with that level of assets, but the professional judgment process can result in a modified SAI based on your current situation. Each school has different amounts of institutional aid available and different priorities for allocating it.

I work in financial aid, and I strongly recommend requesting an appointment with a financial aid counselor rather than trying to handle this by email. Bring a clear summary document showing: - Previous annual income vs. current projected income - Monthly expenses your family must cover - Timeline of job losses with documentation - Any job search updates or retraining efforts - Special circumstances (medical expenses, other children's educational needs) In-person appeals are often more successful because you can answer questions immediately and demonstrate your understanding of the situation.

I'm a financial aid counselor and want to reassure you that your situation is definitely appealable. The combination of recent job losses and the timing disconnect between your FAFSA data year (2023) and current reality is exactly what professional judgment appeals are designed to address. A few key points to help you prepare: 1. **Asset impact**: With $300K in savings, yes, this will contribute to your SAI even with zero income. However, the professional judgment process can account for your family's need to preserve emergency funds during unemployment. 2. **Documentation timeline**: Start gathering everything NOW - don't wait. Unemployment benefit letters, COBRA election notices, job search records, and a detailed monthly budget showing how long your savings need to last. 3. **Multiple siblings factor**: Definitely mention your younger siblings' future college needs in your appeal. Financial aid offices consider the family's overall educational financial burden. 4. **School-specific policies**: Each institution has different professional judgment policies and available funding. If your first school can't provide adequate relief, consider reaching out to other schools that accepted you. The appeal process takes time, so submit everything as soon as possible. Most schools will provide a preliminary decision within 2-4 weeks if you have complete documentation.