<p>I am a rising senior and will be applying for Fall 08 admissions; I noticed on the PROFILE site that it says 2007-2008 on the forms...</p>
<p>It seems I should use 2008-2009 Profile..
when does this usually come out... :confused:</p>
<p>You can't really fill out the Profile with accurate information without having your 2007 tax forms done - say January 31st 2008. Some fill out the forms with estimated tax info - but it's better just to do the real forms with actual tax information, if you don't need to fill out the forms early for an ED financial aid package.</p>
<p>Anxiousmom...yes, it's better if you have your 2007 tax info before doing the Profile. BUT....there are some schools that have priority deadlines for EA or ED applicants and the Profile MUST be completed by earlier than Jan 1 to meet that deadline. The complicated thing about the Profile is that IF you have to do an early one (we had one due on November 1 the year our daughter was a senior), you will need to do it with your best estimates of the whole year. AND then you will have to amend it once your taxes are complete to reflect what was on your taxes. BUT the Profile cannot be amended online...and it is a PITA because you have to print it out and write in the corrections. Also, if you have to submit the Profile later to a different school, you will have to submit the estimated one, print it out and then write in the corrections. It's a faulty system...especially for the costs. Now having said all that....the most important thing folks can do is check their deadlines to see when the school wants that Profile. I fully agree...if you don't have a priority deadline to meet, wait until you have your tax info for 2007...but get it done ASAP...don't wait until April 15.</p>
<p>Can you use your tax returns from 2006?</p>
<p>Thanks for the replies :) though I am not sure I get it....</p>
<p>...are you saying that the form online that refers to 2006 tax
returns etc is the current profile form? (...:confused:)</p>
<p>(and yes, I think I will have a November Finaid deadline that requires CSS/PROFILE)</p>
<p>If you MUST file early, follow Thumper's instructions, using 2006-07 form online with estimates of 2007 earnings/assets. You WILL have to file corrected copy after 2007 taxes are completed in 2008. </p>
<p>If you do NOT have an early deadline for CSS, the site is updated 1/1/08 for the Fall 2008 admissions year.</p>
<p>The idea is not necessarily to slavishly copy stuff off of your old tax forms, because you are trying to accurately predict your tax and income situation for 2008. You have to file an amendment with your school once your taxes are done, so it behooves you to estimate as closely as possible. (Hint - it's hard.)</p>
<p>Also, isn't it too early for the new form to be online?</p>
<p>Yes Weenie,
I realized after going through last year's application forms (to the colleges
for financial aid) that it is too early to register. One needs to register
after October 1 when the next year's form officially becomes available.</p>
<p>Though some of the EA deadlines require registration by October 15 and
filing by November 15th.</p>
<p>:)</p>
<br>
<blockquote> <p>If you MUST file early, follow Thumper's instructions, using 2006-07 form online with estimates of 2007 earnings/assets. You WILL have to file corrected copy after 2007 taxes are completed in 2008. >></p> </blockquote>
<br>
<p>NO NO...The Profile for the 2007-2008 school year will be available to be completed and filed (with estimates) in the early fall, I believe October 1. <strong><em>Don't use the 2006-07 form.</em></strong>* I don't think I said to use the 2006-07 form...I just said to watch out for the priority deadlines and fill out the form before it's due. The 2007-08 FAFSA will not be available until Jan 1, 2008.</p>
<p>Thanks Thumper, I realized there were grave consequences for registering
for the wrong year's form .... :)</p>
<p>I did however download last year's registration instructions that helps
hunt down all the information that will be required in October....</p>
<p>Arwen...no "grave consequences" but it won't help you get finaid for 2007-08 if you do the wrong form :)</p>
<p>HELP!</p>
<p>So let me see if I have this straight - D wants to apply ED at Lehigh. I will need to fill out PROFILE in November, with ESTIMATED 2007 earnings? And attach/send in signed 2006 1040's? Then (if accepted) they will send me a Preliminary Aid package based on that? Then I will fill out the FAFSA in Jan/Feb based on actual 2007 earnings? And then do I have to send in ANOTHER, updated PROFILE - with signed 2007 1040's?</p>
<p>OH, I am so confused - and to top it all off, I got a promotion/raise/went from parttime to fulltime in 2007.....ugh. Timing is everything.</p>
<br>
<blockquote> <p>I will need to fill out PROFILE in November, with ESTIMATED 2007 earnings? And attach/send in signed 2006 1040's? Then (if accepted) they will send me a Preliminary Aid package based on that? Then I will fill out the FAFSA in Jan/Feb based on actual 2007 earnings? And then do I have to send in ANOTHER, updated PROFILE - with signed 2007 1040's?>></p> </blockquote>
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<p>Yes....you've got it correct. Do that FAFSA immediately after Jan 1 and amend it online ASAP after Feb 1. The Profile also will need to be amended. You will need to call the specific college to find out their procedure and who to send it to. In all cases, we were told to print out the Profile we submitted (with estimates) and make the corrections in writing on that form...then mail it to the college. Check about tax returns. Some schools require them and others do not.</p>