<p>May I ask, has your parents filed their 2008 tax return yet?</p>
<p>I am a senior in HS, and I applied some colleges.. Some colleges need FAFSA and 2008 tax return..To fill out my FAFSA, Ill need 2008 tax return.... My mom won't file her tax return until last minute. If I never send in my Tax return, then my application will never be complete. </p>
<p>I am going to send in my 2007 Tax return to colleges and also place a note saying that my mom has not yet filed her tax return.</p>
<p>I just want to know about other CC users.. Has your parents filed their tax return?</p>
<p>You can use your 2007 tax information to do estimates for completion of both the FAFSA and Profile. You will indicate your filing status (will file) on both. Then once you file, you need to update these forms. You can update the FAFSA online with your 2008 info once your taxes are completed. The Profile needs to be done by hand (call each college to find out what their process is for amending the Profile). HOWEVER....any financial aid award you receive before amending to reflect the 2008 taxes will be an estimated award. It will not be finalized until you have provided the school with the info from your 2008 taxes.</p>
<p>This is not the year to file your taxes April 15. If you need financial aid, you might want to mention to your mom that you will not have a finalized financial aid award in time to make a May 1 decision about your college choice. If you don't finalize until April 15, it is unlikely the school will have time to get your finalized award to you by May 1.</p>
<p>Now...having said all that...use the BEST estimates you possibly can when you complete your estimated finaid applications.</p>
<p>I think the title says it. It's really not an option to file that late and expect to be eligible for financial aid. It's equally unreasonable to expect a college you give you private grant money out of its own funds if you're not willing to provide evidence of your financial circumstances.</p>
<p>I don't know what school you applied to, but I know that each school has a date by which you <em>must</em> submit a completed tax copy if you're asked for verification (which 1 of every 3 are). If you miss the deadline at U of M, for example, you are no longer eligible for the money.</p>
<p>You may wish to share this info with your parents. You may also wish to let them know that federal and college-specific need-based aid is most plentiful EARLY in the process, and that when the funds deplete, the funds are <em>depleted</em>.</p>
<p>Please try to get your information estimated immediately, and then encourage your folks to complete their return as soon as possible. There's not much other advise to give.</p>