Hi all. I’ve posted here before - sorry, financial aid applications are very difficult and confusing for me.
Basic question: when a college says FAFSA is due on a certain day, does that mean you must have something filed/processed by that day? Or that it must be filed with updated 2015 tax information?
More context: my mom is an independent contractor. She has already received her 1099s, but her taxes are fairly complicated and she needs to work with a professional. I filed CSS Profile in October and FAFSA on January 1, so it’s already been processed for all my colleges. I used 2014 tax information for both because that’s all that was available, with plans to update as soon as she can get her 2015 taxes done. Most colleges I’m applying to have FAFSA deadlines on February 15. I knew that and made sure to file FAFSA on time. However, this issue just occurred to me. I’ve looked on all financial aid websites and I can’t find any clear information about it.
My mom’s income was very similar in both years, and I’m pretty sure we will have an automatic 0 EFC for both tax years.
I really appreciate any advice you can give me! Thanks in advance.