Changes to Your Awards
Special Circumstances
Sometimes, a student's current financial situation no longer reflects what was reported on the FAFSA or TASFA for a specific academic year.
If you or your family experience an extreme change to personal life or financial situation, Student Financial Aid may be able to adjust your financial information to reflect your current situation more accurately. Please note that all applications will be evaluated on a case-by-case basis. It is not guaranteed that the application will lead to a change in your financial aid, however we encourage students to inquire and apply.
-
Types Considered
Circumstances we typically consider:
- Loss of employment
- Loss of benefits
- Increased medical expenses
- Separation/divorce
- Death of a member of household
- Birth or adoption of a child
- Parent attending college at least half-time
-
Types Not Considered
Circumstances we generally do not consider for an adjustment:
- Student already has an Expected Family Contribution (EFC) of $0
- Miscellaneous personal living expenses (e.g., credit card payments)
- Significant underestimation of previous year's income
- Withdrawal of 401K or retirement that is not rollover
- One year bonus income (e.g., lottery or gambling winnings)
- Reductions in overtime pay
- Bankruptcy
-
Requesting a Review
- Contact the Student Financial Aid Office.
- Submit all requested documents via ACES.
- A Financial Aid Advisor will determine if an adjustment is needed/possible.
- A Financial Aid Advisor will communicate their decision to a student.
Overawards
An overaward exists when the total amount of your financial aid awarded exceeds your Cost of Attendance (COA) and/or exceeds your total allowable amount of "need based" awards.
Need based awards are awarded based on a student's EFC and includes grants, scholarships, subsidized loans, and certain benefits.
Federal regulations require that overawards be corrected at the time they occur. If an overaward needs to be resolved, it could result in your awards being decreased and money being owed back to the Alamo Colleges District.
