<p>I will be attending a college in the Fall of 2014. When do I begin filling out the FAFSA? Furthermore, do I have to wait for my parents to file their 2013 tax return in order to complete the FAFSA? Thank you! Sorry, I'm the first student to go to college in my family and we do not know much on how to fill out the FAFSA.</p>
<p>Your 2014-2015 FAFSA will become available for completion and submission on January 1. You should complete it ASAP after that date using the very best estimates possible for the 2013 tax year. You will select a “will file” status…meaning you will file taxes for 2013 but haven’t done so. complete and submit to your colleges.</p>
<p>Your parents and you will then need to complete your 2013 taxes ASAP after February 1 (when you should have the necessary forms to complete your taxes). This is NOT the year to wait until April 15 to do your taxes! Complete the 2013 taxes. Then go back to that FAFSA, and amend it to reflect the numbers from the 2013 tax return. Change your status to “taxes completed” and resubmit to all your colleges.</p>
<p>The value of your and your parents assets should be their value on the day you submit fafsa the first time. Asset values should not be changed when you go back in to enter the actual 2013 income info.</p>