If you or your family experienced a recent hardship that is not reflected on your FAFSA, such as loss of income or unexpected medical expenses, the Office of Financial Aid has the ability to review how much financial aid you may be eligible to receive.
Income Loss or Medical Expenses
When available, you may complete an income calculation to account for the change in your family's financial situation. The income calculation will determine if your financial aid needs to be reevaluated. Qualifying for grants as a result of this process is rare and highly unlikely. If your income change qualifies for an adjustment, aid is typically provided as additional loan eligibility.
The deadline to to be reconsidered for aid is three weeks before the end of the term for which you are requesting the reevaluation. We cannot negotiate financial aid offers or match another school’s offer.
How much financial aid will I receive?
It depends. The following are examples of special circumstances which illustrate the likelihood of a reevaluation of financial aid eligibility. Please note that each family's situation is unique and we take many factors into account.
Please be aware that these income scenarios do not reflect assets or investments, which could change your eligibility.
![family1](https://www.colorado.edu/financialaid/sites/default/files/styles/large_square_thumbnail/public/callout/finalfamily1_1.png?itok=XWXmuKXj)
Family Income: $30,000
- Colorado resident
- Parent job loss, new income $20,000 ($10,000 loss)
Outcome:
A student in this scenario is already receiving the maximum amount of financial aid available and would not result in additional financial aid.
![family2](https://www.colorado.edu/financialaid/sites/default/files/styles/large_square_thumbnail/public/callout/finalfamily2_1.png?itok=KKUPYxHe)
Family Income: $250,000
- Nonresident
- Parent job loss, new income $150,000 ($100,000 loss)
Outcome:
Revised financial aid would be limited to loans, possibly switched from unsubsidized to subsidized (delayed interest). The updated income is still too high to qualify for grants.
![family3](https://www.colorado.edu/financialaid/sites/default/files/styles/large_square_thumbnail/public/callout/finalfamily3_2.png?itok=S4k24V-r)
Family Income: $115,000
- Colorado resident
- Medical expenses of $25,000 not covered by insurance
Outcome:
Student would be encouraged to submit supporting documentation as their revised income would likely result in additional grant eligibility.
Complete an income calculation
To begin, use our income calculator and provide updated financial information. The calculator will allow you to see how the change could potentially impact your eligibility for financial aid.
Step-by-step instructions:
- Log in to Buff Portal and navigate to the Financial Aid Card
- At the bottom of the card, click More Items
- Select Income/Medical Appeal
- Select the school year impacted by the income change (for example, choose 2025 for Fall 2024 & Spring 2025)
- Follow the instructions carefully. The calculator will give an immediate result based on the info you provide. You may be asked to provide additional information. If so, this step is required to be reevaluated for financial aid.
If you're required to submit additional information, a financial aid advisor will review if an adjustment is possible, which may take about 4 to 6 weeks.