<p>Can the FAFSA info not be sent/filled out until after January 1st? Or have people done it sooner with info from the previous tax year?
Sorry, I am just confused and received conflicting answers and wanted to make sure I was not filing this info too late in the process.
Thanks in advance!</p>
<p>The FAFSA for the 2015-2016 school year (next school year) is NOT available for completion and submission until January 1.</p>
<p>You cannot do it sooner because that FAFSA is not yet even online! If you do the current one 2014-2015, it will not be processed for aid for next year.</p>
<p>It is very possible that come January 1, you will need to complete the 2015-2016 FAFSA using your best estimates for 2014 income and taxes. Some folks are able to use their 2013 taxes as a GUIDE, but using updated and current 2014 financial information.</p>
<p>Look on your college websites. The deadlines are very clear, as are the required submissions for financial aid consideration at each school.</p>
<p>thank you!</p>
<p>Your FAFSA often has to match up with the tax returns filed for the previous year, so the numbers should really be what is used. Your parents’ AGI with adjustments, comes directly for the 1040 series for the year ended. When you undergo verification those numbers need to match up. So the tax return needs to be submitted oftentimes for that final step to be done. Right now, many people cannot come up with what will be on their 1040s. </p>
<p>When one cannot get tax returns completed by Fin aid deadlines, yes, by all means, estimate, but ultimately before you get the aid, those returns may have to be filed and the actual numbers used.</p>
<p>For ED, EA fin aid estimates, schools generally ask that you use PROFILE or their own forms which often then get adjusted by the FAFSA when filed after the year end with actual numbers.</p>