Hi, all! So obviously I’m applying for financial aid but we’ve run into a bit of a road block. Some of my schools have really early 2018 tax deadlines on the SSS website (Loomis’s is 2/10!) but my dad’s tax forms will NOT be ready by then. Should we call the schools and beg them for forgiveness?
Seriously though what should we do?
I would really consider contacting each school individually whether that be by calling the Admissions office, the AO you interviewed with, etc. It will ultimately depend on how long your dad’s tax forms will take to be ready if it is a couple days after the deadline I’m sure it will be fine, but if it is at the end of Feb/early March you might run into a much more serious problem.
@CC4life Well that’s a problem because it will be late Feb/early March…
Do you anticipate 2018 being very different from 2017? If not, reassure them of that when you call since they can refer to those to get a sense of your family’s financial capabilities
Most schools will use the tax for from year prior and your reported information from this tax year. Then they ask for actual 1040s to be sent asap. They make FA decisions before M10 so if your 1040 ends up being much different than the PFS, they may retract their offer or adjust it. This will be your life for the next few years at BS…the 1040 deadline is even earlier for returning students, because they figure that prior to seeing the need of incoming candidates. You can lose FA the next year if you’re not timely with the submission. Trust me…we had a very rude awakening with FA and deadlines last year.
@CaliMex No, it should be very similar/a little less than 2017.
@buuzn03 That’s not ideal… I’ll have my dad send his W2s and stuff sent right away though
He submitted his W-2s, will that be enough if I reach out to the schools with deadlines I’ll possibly miss and tell them the situation?
You do not need your parents 2018 tax returns to complete the SSS, you can estimate income and other required numbers. It is very common that people would not have 2018 tax returns completed by now as they aren’t due until April 15, in fact, many people will get an extension until October. Good Luck!
@Mwfan1921 That’s a relief! Everything but the 2018 1040 and 1090 are done–PFS, 2016, 2017, all that, even the 2018 W-2s.
NMH’s deadline says 2/1, which is weird, because tax returns aren’t even accepted until 1/28…
Speaking of, I need to file my first ever taxes.