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FASFA only tells the school the most they (Fed. Gov.) have determined the student is eligible for. The school has the right the accept that amount, or not, based on how they handle their funds. Basically, the school already has the money and when they dole out the financial aid they are giving their own money from their own budget. Then, later on, they are reimbursed by whichever financial institution is issuing the loans and grants. Until then, the school is taking a risk.
Federal and State financial aid dollars need to be spread out, so if any one particular university is too giving, or even if too stingy, they risk being penalized in the future by receiving less Federal and/or State aid dollars. Because of this, and perhaps for other reasons, it is ultimately up to the school to decide if the student will receive any aid at all based on their own examinations of the applications and based on their own criteria. For example, if FASFA says the student is eligible for $5,000 in Stafford and $2,500 in Pell, the school could very well determine that the student is only in need of $5, 000 in Stafford and $1,000 in Pell. This is based on what-ever algorithm they used. Students are pretty much guaranteed the full amount of any Fed loan. Go figure.
With that, go out and petition the school. If it's not to difficult to prove that your income did indeed go down your daughter (and you) will most likely "win". If not, take the issue up with the Bursar, a Dean, or my personal opinion: go straight to the president of the university. The school has the money, they really do, and they can very easily get that $1,200 for your daughter; but only if you bring it to their attention.
FASFA only tells the school the most they (Fed. Gov.) have determined the student is eligible for. The school has the right the accept that amount, or not, based on how they handle their funds. Basically, the school already has the money and when they dole out the financial aid they are giving their own money from their own budget. Then, later on, they are reimbursed by whichever financial institution is issuing the loans and grants. Until then, the school is taking a risk.
Federal and State financial aid dollars need to be spread out, so if any one particular university is too giving, or even if too stingy, they risk being penalized in the future by receiving less Federal and/or State aid dollars. Because of this, and perhaps for other reasons, it is ultimately up to the school to decide if the student will receive any aid at all based on their own examinations of the applications and based on their own criteria. For example, if FASFA says the student is eligible for $5,000 in Stafford and $2,500 in Pell, the school could very well determine that the student is only in need of $5, 000 in Stafford and $1,000 in Pell. This is based on what-ever algorithm they used. Students are pretty much guaranteed the full amount of any Fed loan. Go figure.
With that, go out and petition the school. If it's not to difficult to prove that your income did indeed go down your daughter (and you) will most likely "win". If not, take the issue up with the Bursar, a Dean, or my personal opinion: go straight to the president of the university. The school has the money, they really do, and they can very easily get that $1,200 for your daughter; but only if you bring it to their attention.
I get that about the FAFSA. I just hate the timing . It felt like they pulled the rug right from under her feet. I think our main concern now is with 2017-18 since they are still using 2015 numbers. We will work out the 2016-17 bill. I assume that expected contribution would be similar in 17-18 as it was in 16-17. We may need to do what you suggest for the next year and just forget about 16-17, once we pay it off, of course.
If you have had a change in income I believe there is paperwork you can fill out to verify the change so that FAFSA will go off of that versus what you made two years ago. I would get in contact with someone in her schools financial aid office.
They now use PPY (prior prior year) which is why they are looking at your 2015 taxes. But I know there are forums because I was informed by my financial aid office about them in May.
This link, if you scroll down goes to FAQ. It states: Can I choose to report 2016 information if my family’s income has dropped significantly since we filed 2015 taxes?
No. You must report 2015 tax and income information, as the FAFSA requires. If your family’s financial situation has changed dramatically since then, you should complete the FAFSA questions as required, submit the FAFSA, then contact the school you plan to attend and discuss your situation with the financial aid office.
1. Financial aide are for people who are insanely broke. One room apartment, old car, neighborhood with old people and minorities ( not to be offensive ), Not for people who live in the suburbs or need a little help. You want help and have money it is called a scolarship. They have hundreds of them and many require essay writing, to illustration, or even projects. There is other forms of funding. Nothing is legitimate.
2. Only way to get full coverage is to take back to back classes. For me that is 12 credits with almost no break forcing you to stay locked and study. Again are you broke as a joke.
3. My advice is that whatever major she is into. Is to actual make sure the environment is decent. Not I want to go to this school. Is it a prime theater or computer, or art, etc etc. Is everybody on par. What do people say about the professors from this or that school.
You want full coverage or you want a federal loan. Also if she is going for a BA ( or whatever ). Make sure she is in a BA college or even a Masters/PHD college. Keep up to date with her major and on goings even if she is partying/enjoying the atmosphere. You as a parent have to stay up to date and not look for cutting corners. I am talking about you not your daughter OP
Also start saving your own money. Because the government hand outs are nothing in comparison.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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$2000 need...
get creative. (Not worth fighting US GOV, tho petitioning college should work, as they are DYING to get the tuition dollars)
Plan B> Sell stuff (including the car) I drive a $35 car cuz I sold my first car to buy a house PT jobs; / weekend stints. pretty ez to make $100/ day on a task = 20 days (1+ months of working weekends ONLY) Night shift; I worked a factory night shift job during school. Nobody wants night jobs, but they often pay more and are very EZ. (My night shift premium alone was over $5,000/yr) eBay- summer garage sale stuff, my SIL makes $20k / yr in her free time by selling garage sale finds on ebay. (She shops at high end neighborhoods in a college town) Summer high risk employment; both my kids did wildland fire fighting and Alaska fishing during college summers. ~ $20,000 - $35,000 for 6 weeks Scrap Iron / recycle aluminum; homeless can make $20 - $50 / day collecting cans. Get a skill... always a great asset to have employment alternatives. get a CDL and drive an airport bus = $20 / hr (weekend nightshift = no free time to spend money)
I'd love to do some of that, but I am disabled (multiple). For most people, those are great ideas. She IS working two jobs to pay this off.
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