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.

I went through a very similar situation last year when my mom lost her job right after we submitted our FAFSA. The key thing that helped was being really organized with our appeal documentation. Here's what worked for us: I created a simple spreadsheet showing our "before and after" financial picture - 2023 income vs. projected 2024/2025 income, monthly expenses, and how long our savings would realistically last with zero income. The financial aid office really appreciated having everything laid out clearly. Also, don't be discouraged if the first response isn't what you hoped for. We had to provide additional documentation twice before getting a meaningful adjustment to our SAI. The process took about 6 weeks total, but we ended up getting enough additional aid to make staying in school feasible. One last tip: if your school has limited institutional aid for appeals, ask about work-study opportunities or emergency loans while you're going through the process. Many schools have short-term financial assistance programs specifically for situations like yours.

I'm so sorry you're going through this stress - the timing of job losses after FAFSA submission is unfortunately common and really frustrating. The advice here is spot-on about appealing through professional judgment. One thing I wanted to add: when you meet with financial aid, bring a realistic timeline of how long you expect the job search to take. If your parents are in specialized fields or the local job market is tough, that context can help the counselor understand why you need to preserve more of your savings for basic living expenses during what might be an extended unemployment period. Also, some schools have emergency grant programs separate from the regular financial aid appeals process. These are usually smaller amounts ($1000-5000) but can help bridge the gap while your main appeal is being processed. Ask specifically about emergency or crisis funding when you call to schedule your appointment. You're being proactive by addressing this now rather than waiting - that's going to work in your favor. The financial aid office wants to help students stay enrolled when they hit genuine financial hardships like this.

I understand how overwhelming this situation must feel, but there's definitely hope for getting your aid adjusted. As someone who's helped students through similar appeals, I want to emphasize a few key points that haven't been fully covered yet: First, the $300K in savings actually works in your favor for the appeal process - it shows your family had genuine financial stability that was disrupted by unexpected circumstances, rather than chronic financial issues. Financial aid officers view sudden job loss differently than ongoing financial struggles. Second, time is critical but don't rush the documentation. A complete, well-organized appeal package submitted two weeks from now will be more effective than a hastily prepared one submitted tomorrow. Create a timeline showing when each parent was laid off, when benefits end, and your family's monthly expenses. Third, consider asking about professional judgment appeals for future academic years too. Some schools can provide multi-year adjustments if the employment situation extends beyond this academic year. Finally, if your current school can't provide adequate relief, remember that you can potentially transfer to a school with better aid packages. Don't feel locked into staying somewhere that becomes financially impossible. You have options, and this situation is definitely manageable with the right approach and documentation.

I'm really glad to see all the detailed advice you're getting here - your situation is definitely not hopeless! As someone who went through a similar appeal process, I wanted to add one practical tip that helped me immensely: when you're preparing your documentation, include a simple one-page "executive summary" at the front of your packet. This summary should clearly state: 1) What your family's financial situation was during the FAFSA tax year, 2) What happened to change it (specific dates of job losses), 3) Your current financial reality, and 4) What you're requesting from the school. Financial aid counselors review dozens of appeals, and having that clear overview right up front makes it easier for them to quickly understand your situation before diving into all the supporting documentation. It also shows you're organized and taking the process seriously. Also, don't forget to ask about payment plan options when you meet with them. Even if your SAI gets reduced through the appeal, spreading the remaining costs over monthly payments instead of lump sum payments can help preserve more of your family's emergency fund during this uncertain time. You're handling this really well by getting ahead of it now. The spring semester financial aid deadlines are still manageable if you get your appeal submitted in the next couple of weeks.

I'm so sorry you're dealing with this stressful situation, but I want to echo what others have said - you absolutely have grounds for a successful appeal! Your circumstances are exactly what the professional judgment process was designed to address. One thing I haven't seen mentioned yet is that you should also ask your financial aid office about their "cost of attendance" calculations. Sometimes schools can adjust not just your SAI based on changed circumstances, but also increase the official cost of attendance to account for additional expenses your family might face during unemployment (like COBRA health insurance premiums, job search costs, etc.). This can create more "financial need" even if your SAI doesn't decrease as much as hoped. Also, document everything in writing - after your in-person meeting, send a follow-up email summarizing what was discussed and any next steps. This creates a paper trail and shows you're serious about the process. You mentioned having siblings who will need college funding soon - that's actually a really strong point in your favor. Financial aid offices understand that families need to preserve assets for multiple children's education, especially during periods of income uncertainty. Don't give up hope! I've seen students in very similar situations get meaningful adjustments that made staying in school possible. You're being smart by addressing this proactively rather than waiting until you're in crisis mode.