Rising unemployment and falling incomes may cause more UF students to change their financial aid status during the 2009-2010 academic year, according to UF officials.
Family incomes could decrease between the time students apply for aid and the time it is disbursed, moving many to have their financial aid status reevaluated.
"We are anticipating that as more and more people become unemployed, the chances of having students petitioning is going to be greater," said Rick Wilder, the associate director of financial aid advising for UF's Office for Student Financial Affairs.
Students who have their financial status reevaluated could receive aid that they were previously ineligible for, Wilder said.
Students should apply for financial aid as early as possible so they have a better chance of getting the financial aid package they want, he said.
And while UF advises students on the available options, a recent study found some students may not be taking advantage of aid available to them.
At last week's Board of Governors meeting, a report estimated that about 22,000 undergraduates at Florida public universities failed to apply for Pell Grants in 2005, despite having a qualified financial status.
About $24 million of this federal, need-based aid went unclaimed, according to the report. Wilder said UF's Office for Student Financial Affairs does all it can to inform students of their options for financial aid.
UF starts educating students about these opportunities as early as middle or high school, he said. Even with help from UF's financial advisers, however, students are still making sacrifices because of the recession's effect on family income.
Amber Wangle, a UF building construction graduate student, has no extra money to buy books and school supplies due to recent family financial difficulties.
Wangle said she walks to school and eats at home daily to save money.
If a student's financial situation changes dramatically, he or she should seek help from their financial aid advisers and discuss which options are available to them, Wilder said.
"Every situation is different, and it's best to talk with a trained financial aid professional before you do anything," he said.
