That's great that you got promoted. Ironically, my whole family is kind of glad my dad is getting laid off. He himself said that he won't try to find another job for a while. See, I'm going to college in September, and due to my dad's stupidity in financial management, we reported a much higher income than we would've had he been smarter. So I got almost no financial aid. Consider college cost 38K a year, that's going to hurt. So now that he's getting laid off, we can claim that we can no longer pay my tuition and revise my family's income. Plus, we can take this opportunity to pay off the mortgage (the 100K sitting in the bank doesn't help either, as my dad feels "safe" with money in the bank), so we'll have almost no money in the bank and only my mom working. With all that we should look like paupers on paper, hopefully I'll get some generous aid and not have to pay my half of the costs (my parents are going to make me pay half of all my costs)