STUDENT FINANCIAL SERVICES

Announcement

The SFS offices, consultation line, and chat will be closed on Monday, September 3, 2018.

Re-evaluating Financial Aid

If you believe your financial aid file should be re-evaluated because your Free Application for Federal Student Aid (FAFSA) does not reflect your current situation, please read the information below. After reading the following information, please contact the Student Financial Services office to discuss your situation. 

Financial aid eligibility is determined by, but not limited to:

A drastic change to any of these factors may affect a student’s financial aid eligibility. If you have special circumstances that were not captured on your FAFSA, Student Financial Services may be able to re-evaluate your need for the current year.

Circumstances Considered for a Re-evaluation

Please be advised that although you may have very real circumstances that you believe requires a re-evaluation of Financial Aid, the allowable circumstance provided in the Student Financial Services Office’s policies is in accordance with federal regulations and requires that a request for a re-evaluation is substantiated by appropriate documentation. If you are unable to provide proper supporting documentation, you will not be able to pursue a re-evaluation.

Re-evaluation of Income Status
  • Loss of employment and inability to regain employment after three months
  • Change or reduction income
  • Loss of child support received
  • Unusually high medical and/or dental expenses paid during the year on which financial aid is based
  • One-time income from IRA, pension, annuity, or retirement
Re-evaluation of Dependency Status
  • Abusive or unsafe home environment
  • Parental abandoment, i.e. whearabouts of parent(s) unknown and cannot be located
  • Parent(s) incarcerated or institutionalized
  • Death of a single parent 
Ineligible Circumstances for a Re-evaluation of Income
  • Loss of untaxed social security benefits or other untaxed income not reported on FAFSA
  • Consumer debt expenses (e.g. credit cards, mortgage, auto, loans, etc.)
  • Home equity, IRA 401k loan payments
  • Primary or secondary tuition costs
  • Bankruptcy (Chapter 7)
  • Medical insurance premiums
  • Income changes that occurred outside of the year on which financial aid is based
  • Elementary or secondary tuition expenses for siblings (dependent students) or children (independent students)
Ineligible Circumstances for a Re-evaluation of Dependency Status
  • Student is not claimed as a dependent on parent(s) income tax return
  • Student does not live with parents

Requesting an Appointment for a Re-evaluation

If you wish to inquire about a re-evaluation of financial aid, please contact our Consultation Line at 312-369-7140 to schedule a phone or office appointment with a Student Financial Services Consultant.  

A re-evaluation may be completed for one of the circumstances listed above, but please note that if a re-evaluation is performed, it does not guarantee that you will become eligible for additional Title IV aid and that balances will be resolved entirely. Re-evaluations may assist in covering a small portion of the balance, and therefore, students must have a plan to resolve the balance in its entirety.

Preparing for your Re-evaluation Appointment

The following three items must be completed prior to contacting SFS to discuss your specific circumstances:

  1. Completion of the FAFSA for the academic year in question.

  2. Receipt of the Award Letter for the academic year in question.

  3. Creation of financial plan using resources currently available to you.

To ensure we are able to assist you in the most accurate way during your consultation please consider the questions below.

Income Circumstances:

  • What are the circumstances surrounding this change?
  • What documentation can you provide to substantiate this circumstance?
  • When did this change occur?
  • How much are you currently earning?
  • When did you become unemployed/ have a change in employment status? (Please specify date)
  • Did you receive a severance package? If YES: When was that income received? What amount did you receive?
  • Are you currently receiving unemployment benefits? If YES: When did unemployment benefits start/end? How much do (or did) you receive per month/week?
  • When did (or will) child support cease?
  • What is the monthly amount of child support that you’re currently receiving?

Dependency Status Circumstance:

  • What is your current relationship with your parents?

Processing and Deadlines

After your initial consultation, if it is determined that you or your family have an allowable circumstance that would warrant a re-evaluation; you will be instructed of the necessary documents required for the re-evaluation process as well as the verification process.

SFS will continue to communicate with you throughout the process. You will be informed by your Loopmail.

You will have 7 business days of your first consultation session to submit the required verification documents.

Once verification is complete, you will have 7 business days from the completion of verification to submit required re-evaluation documents. If documents are not received, SFS will not be able to proceed, and the re-evaluation will be voided.

The entire process from start to finish may take a total of 60 business days. This includes:

  • the initial review
  • submission of documents
  • verification
  • secondary consultation
  • final review
  • FAFSA adjustments
  • revised awarding (if warranted)
  • posting of funds (Please note that all funds will remain pending until this entire process has been completed.)

Important Dates for Re-evaluation

October 15: Last day to submit a Re-evaluation documents for Fall-only students
March 1: Last day to submit Re-evaluation documents for Spring students
May 15: Last day to submit a Re-evaluation documents for Summer term students
June 1: Submission for all income-based Re-evaluation begins

IMPORTANT DATES

More Dates

About

Student Financial Services is here to help you determine ways to finance your education at Columbia College Chicago.

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