Nancy E. answered 09/24/19
20+ Yrs College Admission & Financial Aid - Saving $25k/yr
Yes, Colleges always want to know if you experience a dramatic financial change such as an unexpected significant change in income, a serious medical problem, or other extenuating circumstances. You should contact the financial aid office and ask how they want you to communicate this information. It may be in writing (either by letter or e—mail) outlining the change and giving them as many dollar—specific details as possible. Essentially, tell them what happened and then tell them what it means.