<p>I have one school with an early action financial aid deadline of 11/15. Obviously, we won't have our 2012 tax returns at that point, so do we use our 2011 info and then update the CSS later? How do we go about doing that, as I've read that you can't modify the Profile once you submit it? </p>
<p>Also, as for regular decision schools with deadlines of 2/1 or 2/15, is it best to submit the Profile as early as possible? Seems like a straightforward question, but will we necessarily get more money if we do it January 5th rather than 25th? Should we have all of our W-2s and such by then? I want to ensure that I'll get the most aid possible.</p>
<p>I know you can make changes to the FAFSA, so should I just fill that out with 2011 information on New Year's Day?</p>
<p>2011 tax numbers are a good place to start, however, I always error slightly on the side of getting more FA with my estimates–I figure it’s easier for them to take a few dollars away than to find more money later.</p>
<p>You can’t change the Profile on line, but when you finish your returns you will generally send a hard copy of corrections to schools. Colleges do vary, so you should read their FA website or call them to see how they want you to update.</p>
<p>Yes, I always recommend getting something in early, even if you have to estimate, it’s a placeholder for you. If you’re before the deadline, there won’t be a difference between submitting on Jan 5 vs. 25.</p>
<p>Yes, you can just fill out the FAFSA as ‘will file’ and then resubmit as ‘filed’ when you complete your taxes.</p>
<p>I have to do a LOT of estimating for the CSS because we had some unusual taxable events in 2011 that won’t happen in 2012. I am doing my honest best to estimate, but are there ramifications if I am off by a lot?</p>
<p>Surf, The ramifications are your FA will be adjusted based on the actual income later. At that point your FA offer will be off somewhat. If it’s a negligible amount that’s not a problem. If you’re off by a lot you may have to come up with more money for your family’s share. Try to be as close as possible.</p>