What if the parent income level decreases after the FAFSA has been submitted?
If the parent’s income decreases significantly after the FAFSA has been filed or any time during the academic year, a parent may file a Future Year Income form with the Office of Financial Aid and Scholarships. Federal guidelines allow each University to make adjustments to the EFC based on special circumstances in which a parent may lose a job, receive a pay cut, become disabled, have medical expenses not covered by insurance, become separated or divorced from a spouse, suffer from a natural disaster, or any other circumstance that may decrease a parent’s annual income. Such special circumstances are reviewed by the Office of Financial Aid and Scholarships and adjustments to the EFC are made accordingly. For additional information on filing a Future Year Income form, please contact the Office of Financial Aid and Scholarships at finaid@ucmerced.edu or (209) 228-4243.
