How to Change Income When Filing for FAFSA

The FAFSA is the form you fill out to request financial aid for college from the federal government. If your family experiences a substantial change in income after you have already filed your FAFSA for an academic year, it is possible that the change will effect the amount of financial aid for which you are eligible. In order to get the amount of financial aid that you qualify for with your new income status, you must make a change to your income as listed on your FAFSA.

Instructions

    • 1

      Contact the financial aid office of your college or university. Once your FAFSA is submitted to the federal government for an academic year, any changes must be done directly through your school.

    • 2

      Speak with a Financial Aid Officer. Someone in the financial aid office will be able to help you complete the proper paperwork and make sure that it is filed properly.

    • 3

      Fill out a Change of Income or Income Adjustment form. These forms are filled out in special financial circumstances, such as divorce or loss of a parent. To be eligible for a special circumstance financial aid adjustment, the change to your income must generally be greater than 10 percent.

    • 4

      Request a Medical or Dental Expense form. Though this is also a special circumstance adjustment to your aid, at many schools a drastic change in medical expenses requires a separate form.

    • 5

      Submit any required documentation. Before a change of income or special circumstance form can be filed, extra documentation, such as medical bills or divorce papers, must usually be submitted as proof of the income change.

    • 6

      Take care of the change as soon as possible. Once a form is filled out, it can take weeks to process. Since most schools have very strict policies about when class fees must be paid, if you don't get your paperwork in on time, you may not meet the fee deadline.

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