Families have been filing 2012 FAFSA's since January 1, 2012 so that their children can be in the running for grants, scholarships and loans this spring. Some worry about the fact that the FAFSA asks them about their income in 2011 because things have changed in their household.
The good news is that the financial aid professionals at colleges and universities know that stuff happens:
Colleges have a process that allows parents and students to report changes or special circumstances that affect their ability to pay college costs. Parents and students should contact the financial aid office at the college they will attend to report changes and circumstances affecting their ability to pay. Colleges can evaluate the information to see what adjustments can be made to help the family.