How COVID-19 May Affect Financial Assistance Applications
If you are applying for financial assistance this fall, the process may be different. Here’s why: Your family’s 2019 income will be included in your Forms of Financial Assistance for the 2021-2022 school year. If your income was impacted by the 2020 coronavirus pandemic, you may need to adjust the amount of the award.
As reported by The Wall Street Journal , you always have the option to request an adjustment to your remuneration based on your family’s circumstances. Here’s how to get started:
Prepare to complete your FAFSA and CSS profile.
Effective October 1, you will have access to two forms: the Free Federal Student Aid Application (FAFSA) and the College Council CSS Profile . Both forms are an important part of the financial aid process each year, and some schools may require both forms.
If the pandemic has affected your household income, you can elaborate on these changes in the Special Circumstances section of your CSS profile. You can learn more about CSS Profile in this How-To Video , or you can contact the College Board with specific questions.
Understand the school’s “professional judgment” process
If COVID-19 has affected your income in 2020, you should schedule an appeal to your current school – or all schools you are considering – asking for an adjustment to your financial aid amount.
Start by visiting each school’s website to learn about the financial aid adjustment process. You may need to search the school name + “professional judgment” + “loss of income appeal” to find the information you are looking for.
The learning process in each school will be different, so it is very important to write down the exact instructions that you need to know. Write down the deadline for filing appeals at each school, and consider setting up a reminder. (Here is an example of Lowell’s process from the University of Massachusetts.)
You must submit what the school is asking for – no more, no less, according to the experts – in order to get the best chance of approval. For example, the school may ask for documentation of changes to your income, such as a letterhead statement, pay stubs, or other proof of income.
Contact Financial Aid Offices
As more families are applying for a professional assessment this year, the process may take longer than usual. Be sure to plan a few follow-up activities to ensure each school receives the required documentation. Once you know that everything has been received, do not hesitate to call and check the status of your appeal.