<p>But my fafsa is due feb 15. I know you can estimate but will I know how much I'm going to get or will I have to wait till after taxes are filed</p>
<p>Please file using the estimate so that your info is in on time. When they file, you will need to update. If there is a big difference in info, your aid package will change. Sometimes the updated package can take awhile … if the EFC is higher after taxes are filed, your aid may be reduced. If it’s lower, you may receive more aid. But if you miss the priority date because you wait until they file, you may very well miss out on aid you might otherwise have received.</p>
<p>Do the FAFSA now using good estimates. You should do it in keeping with the deadline for the schools to which you are applying. If the school has a January deadline…here’s what you do.</p>
<p>File your FAFSA using a “will file” status which means you WILL file your taxes but have not yet done so. Use the BEST possible estimates based on your end of year pay stubs, interest statements etc. Then submit it to the school(s).</p>
<p>Do your taxes as soon as reasonably possible after Feb 1 when you have all of your 2009 documentation. Go back IN to the FAFSA website and amend your FAFSA to reflect the figures from your 2009 completed tax return and resubmit to the college(s). Change your status to “taxes completed”. </p>
<p>This is the year you want to get your taxes done as soon as possible. It is NOT the year to wait until April 15th to complete your taxes.</p>
<p>Until your FAFSA is amended to reflect your 2009 tax information, any financial aid award you receive will be an ESTIMATE. So…your parents should try to get their taxes done as early as possible this year.</p>