<p>How can we know the financial information for 2011 when they have not yet filed? Do we estimate? Use the 2010 figures?</p>
<p>You can use the 2010 figures if their income will be about the same, to make it easier. But yes, right now everybody is estimating. Where it asks, put “Will File.” Then after they file their taxes, your parents will need to go back and update.</p>
<p>The 2011-2012 FAFSA will be available for online submission on January 1, 2012. 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 2011 documentation. Go back IN to the FAFSA website and amend your FAFSA to reflect the figures from your 2011 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>Thank you, we ended up using the 2010 figures, although our income will be higher in 2011.</p>
<p>Good point about filing tax returns early. We want to have a chance to update the figures as soon as possible.</p>
<p>I hope your estimated FAFSA included that higher income.</p>