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Does FAFSA account for changes in situation?


CalSeeker

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Does anyone know whether the FAFSA or financial aid offices take into account moving/stopping employment?  I am afraid that anything I fill out now will be totally inaccurate once I actually start school.  My wife and I both work now, but we will need to leave our current jobs when we move to DC so I can go to school.  To make matters more... interesting, we are also expecting a baby next summer, so that will add some new expenses and prevent my wife from finding work right away.  We also have a home with a mortgage, but we hope to rent that out and cover our costs there.

I realize this sounds like the absolute worst time to move across the country to go to grad school, but it is the right time professionally for me.  Plus, it is unlikely to get much easier at some unknown time in the future.  All of this is just to ask whether there is a way to indicate this situation in the FAFSA or elsewhere to more accurately represent the financial situation that will exist when I actually enroll.  I'm also open to other suggestions on paying for grad school and supporting a family!

Ideally, I'll be able to find a job in DC between now and then and potentially go to school part time.  The job market being what it is, though, I'd like some reassurance that there may be a backup.

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Not exactly. FAFSA isn't like TurboTax and doesn't ask if you're moving or having a baby or own a house. It generally asks for line items from the tax return you just filed.

In many cases, we're all making more money and better off financially in the year immediately prior to beginning graduate studies. Which means, you may not get a "good" offer depending upon your school's calculation of how to award aid. However, in subsequent years of your program, the offer could improve. Personally, I won't see a significant difference in my offer until year 3, because year 2 was calculated based on half salary from my former career and half student/graduate assistantship.

Clear as mud?

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