Enter the $2,000 Nitro Scholarship now! Apply in 3 Minutes!

Could You Be Eligible for More Financial Aid Because of the Pandemic?

Chances are, your life looks very different today than it did back in the fall when you filled out your FAFSA. 
If you or your family has experienced a change in income due to the coronavirus, you can and should appeal your financial aid award for next fall. 

Here's what you need to know. 

New Call-to-action

Death, illness, and income loss are always grounds to appeal your award

The coronavirus/COVID-19 pandemic is causing all kinds of life-changing complications for college-bound and current college students. Some of these changes may invalidate portions of the information you provided when you filled out your FAFSA application.

If that's the case for you, you may be able to have your financial aid award re-assessed.

See also: Colleges Offering Limited-Time-Only Deals for Fall 2020: 3 Ways to Cash In

Even under non-pandemic conditions, you can appeal your award if the income you reported on your FAFSA is no longer accurate for any of these reasons:

  • If there is a death in your family.
  • If someone in your household experiences a serious illness or disability that results in reduced income or increased medical expenses.
  • If someone in your household retires, gets laid off, experiences a reduction in hours, is incarcerated, or loses employment income for another non-voluntary reason.
  • If your parent or guardian's marital status changes due to divorce or separation. 
  • If an income stream from a rental property, alimony, or a court settlement is no longer available. 

See also: 4 FAFSA Tips For Students with Divorced Parents

Contact your school right away

If the pandemic has changed your ability to attend or pay for the fall semester, get in touch with your college or university right away. 

Remember, colleges are struggling to deal with this crisis on the fly, just like everyone else. They may not be able to offer you concrete information right away, but making them aware of your situation early is to your advantage. If they are able to offer additional financial aid at some point, you want make sure your name is on the list of people to be considered. They may have a limited allotment of funds to distribute.  

See also: How to Write a Successful Financial Aid Appeal Letter

Remember, colleges want you to attend

Finally, keep in mind that colleges — even non-profits — are still businesses at the end of the day. It's in their best interest to ensure that their fall enrollment numbers are as stable as possible. If your financial situation has changed, they're more likely than ever to find ways to work with you.

If you're still experiencing a tuition gap after your appeal, it may be worth exploring options for private student loans. You can check our picks for the best deals currently being offered by our highly vetted and reputable lending partners.

 

Additional Nitro Recommended Student Loan Lenders

Lender Rates (APR) Loan Types Terms Eligible Degrees Eligible Loans  

Sallie Mae

3.37% - 13.72%1 Variable & Fixed
10 - 15 years

Undergrad Students Learn More

View Disclosure

Ascent

3.04% - 14.75%1 Variable & Fixed
5 - 15 years

4

Undergrad & Graduate Students Learn More

View Disclosure

Earnest

2.70% - 12.78%1 Variable & Fixed
5 - 15 years

3

Undergrad & Graduate Student & Parent Learn More

View Disclosure

SoFi

2.99% - 13.60%1 Variable & Fixed
5 - 15 years

Undergrad & Graduate Student & Parent Learn More

View Disclosure

FundingU

6.99% - 12.99%1 Variable & Fixed
10 years

Undergraduate No-Cosigner Student Loan Learn More

View Disclosure

MPowerFinancing

7.52% - 14.98%1 Fixed
10 year only

Undergrad & Graduate Student Learn More

View Disclosure

Rates (APR) 3.37% - 13.72%1
Loan Types Variable & Fixed
Terms 10 - 15 years

Eligible Degrees Undergrad
Eligible Degrees Students
Rates (APR) 3.04% - 14.75%1
Loan Types Variable & Fixed
Terms 5 - 15 years

4

Eligible Degrees Undergrad & Graduate
Eligible Degrees Students
Rates (APR) 2.70% - 12.78%1
Loan Types Variable & Fixed
Terms 5 - 15 years

3

Eligible Degrees Undergrad & Graduate
Eligible Degrees Student & Parent
Rates (APR) 2.99% - 13.60%1
Loan Types Variable & Fixed
Terms 5 - 15 years

Eligible Degrees Undergrad & Graduate
Eligible Degrees Student & Parent
Rates (APR) 6.99% - 12.99%1
Loan Types Variable & Fixed
Terms 10 years

Eligible Degrees Undergraduate
Eligible Degrees No-Cosigner Student Loan
Rates (APR) 7.52% - 14.98%1
Loan Types Fixed
Terms 10 year only

Eligible Degrees Undergrad & Graduate
Eligible Degrees Student

About the author