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PASFAA SPRING TRAINING APRIL 16, 2013 UNUSUAL CIRCUMSTANCES

PASFAA SPRING TRAINING APRIL 16, 2013 UNUSUAL CIRCUMSTANCES. Greg Gearhart – Messiah College Ryan Hannigan – Messiah College Marykay Klara – Villanova University. Special Cases .

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PASFAA SPRING TRAINING APRIL 16, 2013 UNUSUAL CIRCUMSTANCES

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  1. PASFAA SPRING TRAININGAPRIL 16, 2013UNUSUAL CIRCUMSTANCES Greg Gearhart – Messiah College Ryan Hannigan – Messiah College Marykay Klara – Villanova University

  2. Special Cases • “There are unusual situations where you will need to exercise your discretion as a financial aid administrator: when modifying the student’s data that calculate the EFC, performing dependency overrides, …and determining a student to be an unaccompanied homeless youth.” FSA Handbook, 2013-2014, AVG, Ch. 5, pg. 113

  3. Professional Judgment • “An aid administrator may use PJ (Professional Judgment) on a case-by-case basis only to adjust the student’s cost of attendance or the data used to calculate the EFC. “ • “The statute states that nothing within it shall be construed as limiting the authority of aid administrators to make data adjustment for some situations…the law gives some examples…Use of PJ is neither limited to nor required for the situations mentioned.”

  4. Modifications • “The law doesn’t allow you to modify either the formula or the tables used in the EFC calculation; you can only change the cost of attendance or the values of specific data elements used in the EFC calculation…The data elements that are adjusted must relate to the student’s special circumstances…” • FSA Handbook, 2013-2014, AVG, Ch. 5, pg. 114

  5. Documentation • “…Adequate documentation for such adjustments shall substantiate such special circumstances of individual students…” • FSA Handbook, 2013-2014, AVG, Ch. 5, pg. 114

  6. Special Circumstances Forms • How soon do you have them completed by families • on-line or paper only • Is follow-up done: • Later changes in the year • Confirm accuracy at end of year • How often can they complete your form • Calendar year vs. tax year vs. academic year • Who works on these in your office • How many are done per year & percent of your population

  7. Possible Situations • Reduction to income • unemployment (voluntary vs. involuntary) • child support, social security benefits • reoccurring income (bonus, overtime, gambling, moving expense reimbursement) • one time income (retroactive pay, social security payout, survivor insurance)

  8. Possible Situations • Capital Gains – one time – as a result of: • sale of real estate property • Sale of monetary assets • how funds are used (college costs, home maintenance/emergency, medical expenses • Divorce/separation/death of parent • Parent in college • Siblings in graduate school • Dependency override

  9. Possible Expenses • Medical/dental • Handicapped expenses, special ed costs (family member or student), health insurance premiums • Child care – reduction to income/add to COA • Funeral • Elder care • Private school tuition • Natural disasters

  10. Other Scenarios • Secondary domicile due to work location • Home improvement/remodeling • Trusts

  11. Cost of Attendance Adjustments • Travel that exceeds your standard allowance • Books • Special ed

  12. Questions?? Thank you for attending our presentation. We hope that it has been of assistance to you.

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