<p>So this will be the second time filling the fafsa for me. However, I'm still not sure if I should wait until I have my 2008 tax information or estimate it with my 2007 info. I've heard people speak from both sides, so I am really unsure. For the most part, most people say to estimate and correct it later. However, someone from yahoo answers, who seems to be knowledgeable, says not to.</p>
<p>When does your college need fafsa? If it needs it today, but your taxes are not done, then use estimates. If the college does not need fafsa until March 1 and your taxes could be completed by then, wait for actual 2008 numbers.</p>
<p>I would not take advice from unknown people on Yahoo (take it from unknown people on CC instead ;) ). For instance the comment on your link that filing later makes you less likely to be verified is absolute nonsense. I have read a lot of really wrong stuff on Yahoo when I have been searching for financial aid information. Much better to ask on CC where any wrong information will get pounced on pretty quickly.</p>
<p>The most important thing is to meet your school's deadline (and any state deadlines if you receive any state aid - our state aid deadline is different to the schools). The school deadline may be different for returning students. I am not filing estimates this year unless there is some sort of delay in getting all the tax documents we need. I will be completing tax returns as soon as all the required forms arrive so they should be done by early Feb and the FAFSA(s) will be completed very soon after that. If you receive any aid that is limited in funding (such as Perkins loan, SEOG grant, Work Study) it is especially important to meet those deadlines as that money can run out.</p>
<p>H gathered all our tax information together tonight, but we have some tax documents missing. We keep good records, so have reason to suspect our numbers our accurate. We'd wait till we got all documents/info to do the financial aid forms, but two of D's schools want info by February 1. That seems pretty tight, especially since financial firms now have till February 15 to report info. Is it better to estimate as closely as we can? And are schools' deadlines typically the date by which we have to submit our info on line?</p>