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A parent or student has had a significant loss of income in 2024, 2025, 2026 due to a period of unemployment, a change of jobs, or going from full-time to part-time employment.
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Required Documentation:
- 2023 Federal IRS Tax Return Transcript or a complete signed copy of a preparer's 2023 Federal Income Tax Return submitted to IRS
- Letter of termination (or signed statement from parent/student indicating when employment terminated)
- 2024, 2025 and/or 2026 financial documents (Tax Return Transcript or 1040 Tax Returns + all tax Schedules)
- 3 Latest pay stubs
- Unemployment benefit rate letter/Notice of Determination [and the NYS Unemployment Benefits Online Pay History, which is available at the NYS Department of Labor’s Website https://applications.labor.ny.gov/IndividualReg/ or, for non-NYS residents, the equivalent from your state], current public assistance budget, etc.)
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A parent or student who earned money in 2023 has not been able to earn money in 2024, 2025 or 2026 because of a disability or natural disaster that occurred in 2024, 2025 or 2026.
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Required Documentation:
- 2023 Federal IRS Tax Return Transcript OR a complete signed copy of a preparer's 2023 Federal Income Tax Return submitted to IRS.
- a statement from the student or parent’s employer, insurance company, Worker’s Compensation Board, or other disability agency indicating when employment terminated.
- In cases of a natural disaster, a statement explaining the nature of the disaster and the date employment terminated.
- 2024, 2025 and/or 2026 financial documents (Tax Return Transcript, disability, or Worker’s Compensation statements, etc.).
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A parent or student who received unemployment compensation or some untaxed income or benefit in 2024, 2025 or 2026 has completely lost that income or benefit in 2024, 2025 or 2026. The untaxed income or benefit must be from a public or private agency, from a company or from a person because of a court order.
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Required Documentation:
- 2023 Federal IRS Tax Return Transcript OR a complete signed copy of a preparer's 2023 Federal Income Tax Return submitted to IRS.
- a statement from the appropriate agency, company or person making the benefit payments indicating when the benefits terminated.
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The student’s parents have separated or divorced after the student has filed a FAFSA.
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Required Documentation:
- a copy of the divorce decree or a statement from the parent indicating the date of separation.
- proof of separate addresses
- 2023 Federal IRS Tax Return Transcript (including all W2 forms)
- 2024, 2025 and/or 2026 financial documents for the parent (2024 tax return transcript, current pay stubs, etc.).
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One of the student’s parents has died after the student has filed a FAFSA.
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Required Documentation:
- a copy of the death certificate for the deceased parent.
- 2023 Federal IRS Tax Return Transcript (including all W-2 forms)
- 2024, 2025 and/or 2026 financial documents for the surviving parent (IRS Tax Return transcript, current pay stub; social security statements, etc.).
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None of the above.
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If you or your parent do not meet one of the above situations, you are not eligible for an income adjustment.
If you have general Financial Aid questions, please visit the Panther Station Virtual Office and a representative will be available to assist you.
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