When to report income decrease to colleges after FAFSA submission? 2023 income dropped significantly

contact all the schools ASAP!!!!! like right now. each school has their own "Professional Judgment" process for income changes - call every single financial aid office on your list and ask about it. i waited too long last year and missed out on thousands in aid 😭

You should absolutely notify all schools immediately about this significant change in income. This situation is exactly what the Professional Judgment (PJ) process is designed for. Here's what you should do: 1. Contact each school's financial aid office directly 2. Ask specifically about their "income appeal" or "special circumstances" process 3. Be prepared to provide documentation (termination letter, unemployment benefits, recent pay stubs) 4. Don't wait for aid packages - start this process now Each institution handles these appeals differently, but all have procedures in place. The 2023 income reduction could significantly lower your SAI and potentially qualify your daughter for need-based aid she wouldn't otherwise receive.

lol doesnt matter they never give u more money anyway. my dad lost his job last year and we did all the "special circumstances" paperwork and got nothing. waste of time.

I went through this EXACT situation last year! My income dropped from 95k to 58k when I switched careers, and my son was applying to colleges. Here's what worked for us: 1) I immediately called every financial aid office and told them about our situation 2) They all had different forms and requirements (super annoying) 3) Some wanted our actual 2023 tax return when it was ready, others accepted pay stubs 4) We ended up getting significantly better aid packages from 3 out of 5 schools DON'T WAIT! The earlier you start this process, the better. Some schools have limited funds for adjustments and it can be first-come, first-served.

has anyone tried claimyr.com for getting through to the financial aid department at colleges? i was getting nowhere trying to call about my special circumstances appeal and kept getting voicemail. used claimyr and actually got a human in the financial aid office after like 15 mins. they have a video showing how it works at https://youtu.be/TbC8dZQWYNQ if you need to actually talk to someone.

Financial aid professional here - this is exactly what Professional Judgment (PJ) is designed for. A few important points: 1. Contact each school IMMEDIATELY - don't wait for aid packages 2. Be specific that this is a "substantial income change" case 3. Your 2022 data determined your official SAI score, but schools can make internal adjustments 4. Each institution has different documentation requirements and deadlines 5. Some schools have special forms; others use a general appeal process Most importantly: be persistent! If you don't hear back within 2 weeks of submitting documentation, follow up. Financial aid offices are overwhelmed this time of year, and the squeaky wheel often gets the grease.

btw ur SAI is probly like 30000 with that income level, no way ur gettin need aid

UPDATE: I've already contacted two schools! The first one had me fill out a simple one-page form and submit my spouse's termination letter. The second wants recent pay stubs, our 2023 W-2s, and a more detailed financial statement. They both said decisions typically take 3-4 weeks, but they'd try to expedite since we're in the middle of admission season. I'll be calling the remaining three schools tomorrow. Thank you all for the advice to act quickly on this!

That's fantastic progress! You're doing exactly the right thing by acting quickly. Just wanted to add a couple more tips from when I went through this process with my daughter two years ago: 1. Keep a spreadsheet tracking which schools you've contacted, what documentation they requested, and when you submitted everything - it gets confusing fast! 2. If any school asks for your 2023 tax return and you haven't filed yet, ask if they'll accept a signed letter explaining your current situation along with recent pay stubs as a temporary measure 3. Some schools may ask you to update your FAFSA once the 2023 tax data becomes available through the IRS Data Retrieval Tool - this can happen later but don't worry about it now The fact that you're getting merit scholarships already puts you in a good position. The combination of merit aid plus any need-based aid you get from these appeals could really make college affordable. Fingers crossed for good news from all the schools!