Quitting job and FAFSA

If I quit my job now, when should I apply for Fed Fin Aid for Spring 06'?? I want my income to look like it has gone down significantly for this year..which it will have come December with no job. But...if I apply now, or even October for that matter...don't they use last years tax info?? How do I get them to consider my reduced income? When do I apply?

TIA!!

[Guitar_Heroine]

Most schools have a priority deadline for financial aid so you want to apply as soon as you can (when you get your W2's and taxes done for the year). Spring '06 will be based on last year's tax info, so you'll want to apply ASAP, but I believe you can submit in writing any special circumstances for them to consider. Good luck!

[Momto3andNurse2B]

I would apply right away and then talk to your financial aid office. I was in the same situation last year. I provided pay stubs, letter of resignation, etc., and the financial aid office was able to adjust my income.

[RosesrReder, BSN, MSN, RN]

If I quit my job now, when should I apply for Fed Fin Aid for Spring 06'?? I want my income to look like it has gone down significantly for this year..which it will have come December with no job. But...if I apply now, or even October for that matter...don't they use last years tax info?? How do I get them to consider my reduced income? When do I apply?

TIA!!

Contact your financial aid office and get the application because you might have to apply soon. Best wishes to you.

[nursemommyof3]

Yes, I was let go from my job, and was able to fill out a "extenuating circumstances" form from the FA office. With this, they were able to estimate my household's "new" income, and process my FA, otherwise I wouldn't have gotten anything.

HTH

Janet

[Curious1alwys, BSN, RN]

Ok, got it! Thanks for the info. I will apply for FAFSA now and fill out a "special circumstances" form if things change. :wink2: