Loss of Income Appeal


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  • Form Available: Monday, September 8, 2014

Dates & Deadlines

  • Form Available: Monday, September 8, 2014
  • If attending Fall 2014 only the deadline has passed
  • If attending the Academic Year / Spring 2015: Monday, March 9, 2015

Eligibility for 2014-2015 financial aid is based on the total income (taxable and some untaxed income) reported on the financial aid application from tax year 2013.  When the total income for the family unit is expected to be lower in the 2014 tax year as a result of one or more hardship event we may approve an adjustment under the conditions outlined below.  

Quick Reference: Loss of Income Appeal Checklist (pdf)

Qualifications and Requirements:

  • A complete financial aid file
  • Hardship in general should be of an involuntary nature (outside the control of student and/or parent):
    • Job layoff / termination
    • Military Discharge
  • Hardship must be verified with official documents (third-party)
  • An adjustment will improve the student’s financial aid eligibility
  • Loss of income must occur in the 2014 tax year for a possible aid adjustment for Fall 2014, Spring 2015 and/or Summer 2015.  The 2014 income MUST be lower than the 2013 reported income on the financial aid application
  • A loss of income is typically determined by projecting ALL 2014 taxable income and some untaxed income
  • The asset information reported on the financial aid application is as of the date the application was filed (adjustments are not considered)

We will NOT consider:

  • Situations involving higher income in 2013 from any form of gambling and games of chance, e.g., lotteries, contests, raffles, sweepstakes, etc
  • One-time lump sum cash distributions of pensions, IRA accounts, or other retirement accounts used to pay down debt or make discretionary purchases, etc.

A signed 2014 Federal Income Tax Return will be required if:

  • Submitting the Loss of Income Appeal on or after Monday, December 1, 2014
  • Irregular or inconsistent income based on sales, commissions, on-call jobs or self-employment, etc
  • Sources of non-wage income such as from rental property or difficult-to-estimate income from capital gains, investments, and other income-generating assets
  • Bankruptcy and home foreclosures not accompanied by a qualified loss of income event

If you want to meet with a Financial Aid Counselor for this review, bring with you the following:

  1. 2013 IRS income tax transcript for the student (and spouse if married), and parents (if dependent).  Other forms may be requested depending on the individual situation (unless submitted for verification processing)
  2. Documentation of all income received to date in 2014 from all sources (wages, unemployment benefits, disability, etc.) by student/spouse and/or parents, as applicable

Full documentation is an absolute requirement for this process.  Meet with a Financial Aid Counselor to discuss your situation, obtain the forms, and submit with required supporting documentation.

Revised: 11/1/14