These college students might get less financial aid next year

"Huge swathes of the workforce, including parents of the individuals who will file a FAFSA, could be partially or fully unemployed," said Sean Stein Smith, CPA and member of the American Institute of CPAs' consumer financial education advocates.

"The college has the authority to make changes [to the financial aid package] when it's supported by adequate documentation," said Mark Kantrowitz, publisher of SavingForCollege.com. "Be specific about the dates and the amounts, state what date you lost your job and how much of a difference it makes in your pay," he said.

If you're going to be in Mom and Dad's basement, do it for a third of the money, but make sure the credit transfers."Put yourself in front of the line by saying, 'If we need to report additional things, what do you need from us?'" he said. Public colleges depend on funding from their states, which are currently looking at a big decline in tax revenue.

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“Students need to be ready to file an appeal with their college & ask for more aid...”. This is the key, and I don’t think most people know they can appeal. Here’s a free resource to help you create one.

They’ll certainly get less college this year. Nice job missing the real story. The value proposition of college is out of balance.

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