<p>When am I supposed to fill this out? I know the deadline is not until June 30, 2008, but why wouldn't anyone fill it out now? Do you have to wait until you are accepted? I am confused?</p>
<p><a href="http://www.fafsa.ed.gov/%5B/url%5D">http://www.fafsa.ed.gov/</a></p>
<p>There is a very good reason why people would not fill it out now - You cannot fill the one for 2008/2009 school year before January 1st 2008. The one up right now is for the 2007-2008 school year (includes through summer 2008). If you fill that one out it will not be of any use for the 2008-2009 year. The 2008/2009 form will not be available till January 1st. Do fill it out as soon as possible after January 1st as some aid is limited so the earlier you submit it the better chance you have of getting it.</p>
<p>This is the site for the 2007-8 year (this year). If you are applying for aid next year, you need to wait for the 2008-9 edition, which comes out Jan. 1.</p>
<p>(cross posted with SWM...)</p>
<p>Although you can't start the FAFSA until January 1, you can start the FAFSA4caster right now. See <a href="http://www.fafsa4caster.org%5B/url%5D">www.fafsa4caster.org</a>. You put in estimates of your 2007 income and asset information and it will give you an estimate of your Expected Family Contribution. You can roll over the data to the FAFSA on January 1.</p>
<p>Finaid.org also has an excellent EFC calculator at <a href="http://www.finaid.org/calculators/finaidestimate.phtml%5B/url%5D">http://www.finaid.org/calculators/finaidestimate.phtml</a>
But be aware that a new bill was signed by the President today that will change some things for next year and subsequent years. These calculators have not been updated to reflect these changes yet (I am guessing ;) )</p>
<p>I have found finaid.org to be an excellent source of information on financial aid matters.</p>
<p>swimcatsmom is quite correct. the changes on finaid.org have not be updated as of yet, but i would check studentaid.ed.gov. they should be posting the changes soon.</p>
<p>also ifap.ed.gov has a wealth of information as well, even though it is for financial aid administrators. i would check both sites if i were you.</p>
<p>here is a brief summary of the need analysis changes---when it is going to be effective, i dont know but here it is:</p>
<p>Need Analysis
• The income protection allowance is increased.
• The simplified needs test and auto-zero requirements are expanded and the
income limit is increased.
• A qualified educational benefit is considered an asset of the student if the student
is independent, otherwise of the parent
• The definition of “other financial assistance” is revised to exclude distributions of
financial assistance that are not included in gross income.</p>
<p>the real meaning of the last part? worksheet A of the fafsa will be eliminated, namely social security benefits (including ssi), welfare benefits and the like.</p>
<p>again i don't really know the effective date of these changes but i bet they will phase it in starting next year, so i guess the 2008-2009 fafsa will be affected.</p>