<p>My mom and I are going through this form, and it asks a lot about 2008 taxes. Those aren't due until April 15th, 2009. What do we do?</p>
<p>You need to estimate what they will be. You can use the 2007 info to get your estimate. Yes, the info you provide will change - and at some point, you will update with the school. Until then, though, you just provide your best guess. Remember, if the real deal is a lot different, your aid could change accordingly.</p>
<p>You make the best estimates you can make based on the information you have. BUT be aware that your estimated Profile (and FAFSA) will get you an ESTIMATED award. Your finalized award will not be sent until you update the information using the data on your completed 2008 tax returns. And yes, your award could change (one of DS's finaid awards was reduced by $4000, another school didn't change it at all). This is NOT the year to complete your taxes by April 15. This is the year to complete them as close to February 1 as possible. That will give you ample time to send the corrected info (from the 2008 returns) to the colleges. If you wait until April 15, you may not have a finalized financial aid award.</p>