Anyone doing FASFA?

[Prairie~Phlox]

So I saw something about starting this, I had dd create an account, according to a sheet I saw, it said that for this year, it would still use last years taxes, but on the form, it wanted 2014, so we linked everything.  Should we wait until we do our taxes for this year and then submit it?  Also, it wants dd savings/checking, investments.  We have an investment account that dh's parents set up for her, she can't touch it until she's 21.  Do I include it?

 

There is a help night at the college she plans to attend and we can go, just wondering if anyone knows these answers.

 

Thanks,

Kristine

[Starr]

You need to do 2015 taxes or estimate for school year 2016/2017. And they want all information. Often the college will ask for even more. If you estimate you have to send in the real thing once your taxes are completed. It's been recommended to us to get the FAFSA in by the end of January.

 

Once you receive financial aide packages call and ask for more. You usually will get something more. 

[Prairie~Phlox]

Thanks, I read more info & we'll wait. 😉

[Kathryn]

You use 2015 taxes. You can estimate and then edit once you do taxes. We've already done this because some aid is first come, first served and the college encourages you to get it in as soon after January 1 as possible.

[chocolatechip]

You can use last year's info to estimate for this year. Then after you do 2015 taxes you will just need to submit a correction. Echoing PPs who say submit as soon as possible since you'll have a better chance at more aid. 

 

[mum]

Also agreeing to do it with estimates and link to 2015 taxes when they are done. Get  the estimates in asap. My husband always does it Jan 1! I have been told by college advisor that the date is changing and submissions for 2017 will begin in October of this year. So not Jan 1 like it has been. We just keep on submitting, we have 2 graduating this year and one starting next year. 

[Cinder]

From this website (Federal Student Aid, USDOE): 

 

Use income records for the tax year prior to the academic year for which you are applying: for instance, if you are filling out the 2016–17 FAFSA, you will need 2015 tax information. (Starting with the 2017–18 FAFSA, you'll need to report income information from the tax year two years prior to the academic year. Learn more about the 2017–18 FAFSA.)