New financial circumstances might mean new needs

sidebar menu toggle button New financial circumstances might mean new needs

The last 18 months have been tough for most of us. For some of your families, maintaining their job or income was impossible. The Financial Aid Office can review financial aid applications for students and families with these circumstances. 

The Free Application for Federal Student Aid — we call it FAFSA — is the application for federal grants, federal low-interest student loans, state grants and scholarships and university funding. We encourage all students to complete the FAFSA every year to see what aid you may be eligible to receive. 

The application for 2021-2022 required families to report their income earned on their 2019 taxes, but this might not reflect your family’s situation anymore. With businesses permanently or temporarily closed during the pandemic, you or your family may have had reduced income in 2020 or 2021. If this is the case, you can request a financial aid officer review your eligibility for aid based on your new circumstances. We can adjust the application to more accurately reflect your family’s ability to contribute finances for college. 

To request a review, you need to:

  1.       Complete and submit the Request to Review Special Circumstances form
  2.       Attach a personal statement explaining the change in circumstances
  3.       Provide documentation as to the situation. Acceptable documentation can include:
  4.       2020 signed 1040 tax form
  5.       2020 W2s for all employment
  6.       2021 latest pay stub with year-to-date income information for all employment
  7.       Unemployment compensation statements
  8.       Notice of termination, layoff or reduction in pay or hours
  9.       Divorce decree or death certificate in the instance of the loss of income due to divorce or death

The processing time for completed packets is usually around five business days. We must adjust the FAFSA and then wait for federal processing. You will still need to make payment arrangements for your fall bill by Sept. 3, which is the deadline to pay. If additional aid becomes available, you will receive a refund or payment plan adjustment.

It is not too late for you to complete the FAFSA or request a review of special circumstances. Financial aid advisors can meet with you in person or virtually. Please visit us in 107 Eielson Building or contact us at uaf-financialaid@alaska.edu or 474-7256 to talk with an advisor or request an appointment.

The last 18 months have been tough for most of us. For some of your families, maintaining their job or income was impossible. The Financial Aid Office has authority to review financial aid applications for students and families with these circumstances.

The Free Application for Federal Student Aid — we call it FAFSA — is the application for federal grants, federal low-interest student loans, state grants and scholarships and university funding. We encourage all students to complete the FAFSA every year to see what aid you may be eligible to receive.

The application for 2021-2022 required families to report their income earned on their 2019 taxes, but this might not reflect your family’s situation anymore. With businesses permanently or temporarily closed during the pandemic, you or your family may have had reduced income in 2020 or 2021. If this is the case, you can request a financial aid officer review your eligibility for aid based on your new circumstances. We can adjust the application to more accurately reflect your family’s ability to contribute finances for college.

To request a review, you need to:
1. Complete and submit the Request to Review Special Circumstances form
2. Attach a personal statement explaining the change in circumstances
3. Provide documentation as to the situation. Acceptable documentation can include:

a. 2020 signed 1040 tax form
b. 2020 W2s for all employment
c. 2021 latest pay stub with year-to-date income information for all employment
d. Unemployment compensation statements
e. Notice of termination, layoff or reduction in pay or hours
f. Divorce decree or death certificate in the instance of the loss of income due to divorce or death

The processing time for completed packets is usually around five business days. We must adjust the FAFSA and then wait for federal processing. You will still need to make payment arrangements for your fall bill by Sept. 3, which is the deadline to pay. If additional aid becomes available, you will receive a refund or payment plan adjustment.

It is not too late for you to complete the FAFSA or request a review of special circumstances. Financial aid advisors can meet with you in person or virtually. Please visit us in 107 Eielson Building or contact us at uaf-financialaid@alaska.edu or 474-7256 to talk with an advisor or request an appointment.