Part 8/11:
Beyond the broad systemic issues, the interview also touched upon strategies for individual borrowers. Kantrowitz emphasized that families with unusual or changing financial circumstances should not hesitate to appeal for adjustments in their financial aid or loan repayment plans.
He explained that if your income has decreased or you face extraordinary expenses—such as high medical bills, dependent care costs, or caring for elderly relatives—you can submit an appeal to the college financial aid office. The process involves providing specific documentation, like layoff notices or medical bills, to request a re-evaluation of your financial situation, potentially leading to a lowered assessed income and more favorable financial aid offers.