A Quick FAFSA Update Question

Parents Forum
1

<p>Here's my question.</p>

<p>When I created my initial "will file" FAFSA, I provided a snapshot of my family's financial data (assets) as of that date, and a best estimate of our 1040 with the info I had in hand.</p>

<p>Now, when I complete and sign our 1040, and I go in to finalize the FAFSA, do I simply update only the 1040 information on the FAFSA using the final figures, or do I also have to update the family's financial data (assets) to the current date as well?</p>

<p>Thanks for your help.</p>

2

<p>A financial aid college advisor I spoke to said we just change the information that changes as a result of our tax returns having been completed. He said financial aid administrators understand that the asset picture is more fluid, and they do not ask that that be changed when you make corrections.</p>

3

<p>I've been told the same info at 'financial aid nights'.
You don't need to change your checking acct, savings, investments, etc.</p>

4

<p>Thank you very much. :)</p>

5

<p>Think of it this way, you put in "real" numbers for assets & all the info other than the tax return info which was estimated. All you need to update is the estimated info....I always end estimated numbers in 000 so it is easy to tell which were "real" and which were estimates!</p>