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20202021 CHANGE OF INCOME REVIEW FORM Complete this form if you and/or your spouse or parents anticipate your 2020 income to be less than the 2018 income reported on the 20202021 FAFSA. Additional
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Step 1: Gather all necessary documents such as income statements, tax returns, and any other supporting documents that reflect your income for the year 2020-2021.
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Step 2: Carefully review the change of income form and ensure that you understand each section and requirement.
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Step 3: Fill out the form accurately and provide all relevant information regarding the changes in your income for the specified time period.
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Step 4: Double-check your entries and make sure all sections are complete and correct.
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Step 5: Attach any supporting documents along with the completed form, if required.
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Step 6: Submit the filled-out form and supporting documents through the designated channel, whether it is online submission or mail.

Who needs 2020-2021 change of income?

01
Individuals or households who experienced significant changes in their income between 2020 and 2021.
02
Those who want to update their income information for the purpose of government assistance program eligibility or other financial considerations.
03
Employees who might have taken pay cuts, lost their jobs, or experienced fluctuations in their income due to various reasons.
04
Self-employed individuals or business owners who experienced changes in their earnings.
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Change of income review is a process used to assess and adjust an individual's or household's financial situation based on changes in their income, which may affect benefits or assistance programs.
Individuals or households that experience a significant change in their income, particularly those receiving public assistance, housing benefits, or other forms of financial aid, are typically required to file a change of income review.
To fill out a change of income review, individuals must complete the designated form provided by the relevant authority, detailing their new income information, supporting documentation, and any other required details specific to their situation.
The purpose of the change of income review is to ensure that assistance programs are providing the appropriate level of support based on an individual's current financial circumstances, preventing overpayments or underpayments.
Information that must be reported includes the new income amount, the source of the income, any additional income changes for other household members, and any relevant supporting documents such as pay stubs or tax returns.
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