<p>you use the tax return from 2007,right?</p>
<p>When do people usually file their tax return?</p>
<p>And,when do they usually get it back?</p>
<p>i would ask my parents,but they're not here right now. :P</p>
<p>First thing...you (the student) and one parent should request a PIN from FAFSA.gov now. Keep it in a safe place.</p>
<p>The 2008-09 FAFSA will be online for submission on January 1, 2008. Re: tax filing...well theoretically you have until April 15 to file your taxes. BUT when you are applying for financial aid you should do your taxes AS SOON AS POSSIBLE after February 1 (which is when, by law, you should have received all of the 1099 and w-2 forms...and yes, I know that the self employed often do not have all the info by then...but for most of us, the forms necessary to file will be received by Feb 1). So...what do you do?? Well, here is my suggestion. You and your family (because the FAFSA asks for info from both parents and student) should print out the FAFSA worksheet and complete that using realistic estimates based on end of year pay stubs, and statements. Then complete the FAFSA and file it in January using a "will file" status, meaning you will file your 2007 taxes but have not yet done so. Then complete all of the 2007 taxes and submit as soon as possible after February 1. You then go back into the FAFSA website and amend your FAFSA with the accurate info from your tax forms, and resubmit to your schools.</p>
<p>In fact, many of us folks have already gotten our final paycheck for 2007 (and the rest will get theirs this week). </p>
<p>You can start putting those numbers into an online tax program. You can also go online and see what you have coming as far as income and dividends as of the last month end (which isn't always on the last day of the month).</p>
<p>I can also estimate my mortgage interest (can't get that online yet) and I know my real estate taxes.</p>
<p>Back in the old days (10+ years ago :) you actually had to wait for the paperwork to come to you, but not in this day and age. </p>
<p>I'm pretty sure I can guess the # on the 1098 (?) form that the school gives that says how much I paid towards tuition and fees.</p>
<p>The online program I use even gives you a form and tells you which numbers go where on the FAFSA (which is pretty straightforward).</p>
<p>If you have a no nonsense tax return (like me) it's easy to get ready early.</p>
<p>tag for self</p>
<p>I am going to file FAFSA right after Jan 1 as a "will file" status. But I think the numbers(2007 income for parents) will be slightly different from CSS. Do you think it will be a problem?</p>
<p>In the end, you will be amending the Profile and the FAFSA to reflect the accurate (and same) numbers from your 2007 tax returns.</p>
<p>I am very new to the financial aid process. So... after I file 2007 tax returns, do I need to amend both FAFSA and Profile, and send the amended ones to the colleges? I've heard that Profile can not be amended online so I guess I need to amend it manually and send the hard copy to the colleges, right?
Thank you for your help.</p>
<p>The FAFSA can be amended and resent online. You want to complete your taxes ASAP after Feb 1 and do this. The Profile cannot be amended online (why??? go figure). You need to contact each school to find out how THEY want the figures amended. This varies from place to place. In my kid's case, the schools where we submitted the Profile asked us to print out the submitted profile and handwrite the corrections. They also told us specifically who to send it to at the college.</p>
<p>so basically:
fill out the PROFILE (update with accurate #'s later),
fill out FAFSA asap (update with accurate #'s later),
send out appropriate tax forms to colleges as needed,
and fill out and send school's own financial forms if they have any</p>
<p>and also,
are we given access to the FAFSA starting at 12 midnight sharp?
thank you very much!</p>
<p><< are we given access to the FAFSA starting at 12 midnight sharp? >></p>
<p>Uh, we're talking about a federal agency here. Not sure if you will get the FAFSA online at the stroke of midnite :-)</p>
<p>oh okay :) thanks</p>
<p>so what i mentioned in my previous post is correct and is pretty much the rundown of the whole thing?</p>
<p>Thank you for the clarification, Thumper 1. </p>
<p>Jyi90 said "send out appropriate tax forms to colleges as needed", but some colleges want to receive tax forms through IDOC(Institutional Documentation Service), which means through college board. But it is not until March, so there is still time to figure it out.</p>
<br>
<blockquote> <blockquote> <blockquote> <p>the FAFSA asks for info from both parents and student</p> </blockquote> </blockquote> </blockquote>
<br>
<p>I filled the 2007-2008 student FAFSA online, just for practice. (I am not going to submit this). This asked whether the student wanted to submit parent information. Since the student involved is a law school applicant, entry of parent info was optional, depending on whether the law school wanted it.</p>
<p>I have a couple of questions:</p>
<p>Is the parent info provided in the student FAFSA itself or whether I (as a parent) should submit a separate FAFSA? If the former, why does the parent need a separate PIN?</p>
<p>Thanks.</p>
<p>The parent info is provided on the parent section of the FAFSA for that student. If you are an independent student and the college does not WANT your parent info, you don't include it. If the college (like some law and medical schools) wants that info, you include it on the one form.</p>
<p>When parent and student info is included EACH one signs electronically with the PIN.</p>
<p>When my son did his FAFSA for this year as an independent student (grad school and they did not want parent info), he included only his info and only needed his PIN for signing.</p>
<p>jyi90, </p>
<p>actually, it is at 12 midnight central time that you have access to the 2008-2009 fafsa. in other words:</p>
<p>1 a.m. on the east coast</p>
<p>12 midnight central time</p>
<p>11 p.m. mountain time and</p>
<p>10 p.m. on the west coast</p>
<p>it depends on where you live.</p>
<p>i hope this helps!</p>
<p>baker101460</p>
<p>ohh</p>
<p>okay! thanks so i'll be ready at 10 instead of 12. thank you! :)</p>