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What You Need to Know About the 2017-18 FAFSA

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College Students

There are some changes to the Free Application for Federal Student Aid (FAFSA). But don’t worry; these changes were put in place to make the FAFSA process easier. Starting with the 2017-18 FAFSA, there will be two major changes:

  1. You’ll be able to submit your FAFSA earlier. You can file your 2017-18 FAFSA as early as October 1, 2016. The earlier submission date will be a permanent change, enabling you to complete and submit a FAFSA as early as October 1 every year. Filing the FAFSA earlier, will help with budgeting for the upcoming year.
  2. You’ll use earlier income and tax information. Beginning with the 2017-18 FAFSA, students will be required to report income and tax information from an earlier tax year. For example, on the 2017-18 FAFSA, you–and your parents, as appropriate–will report your 2015 income and tax information, rather than your 2016 income and tax information. This change will make the FAFSA easier because you’ll already have done your taxes by the time you fill out your FAFSA, and you may be able to automatically import your tax information into your FAFSA.

First-time College Students

Did you know that you might be eligible for financial aid to help pay for college? Start the process by filling out the Free Application for Federal Student Aid (FAFSA). The FAFSA will be available this October 1 for students who plan to attend college between July 1, 2017 and June 30, 2018.

You might have heard your friends or siblings talk about the FAFSA being available on January 1. The FAFSA is now available earlier, on October 1, to give you more time to make an informed decision about where to go to school and how to pay.

Get ready for the FAFSA by creating an FSA ID, a username and password combination that you’ll use to sign the FAFSA and access certain websites related to your federal student aid.

Parents

You might hear about some changes to the Free Application for Federal Student Aid (FAFSA). But don’t worry; these changes were put in place to make the FAFSA process easier. Starting with the 2017-18 FAFSA (this is the application your child will fill out if he or she plans to go to school between July 1, 2017 and June 30, 2018), there will be two major changes:

  1. Your child will be able to submit his or her FAFSA earlier. Students can file the 2017-18 FAFSA as early as October 1, 2016. The earlier submission date will be a permanent change, enabling students to complete and submit a FAFSA as early as October 1 every year. Filing the FAFSA earlier, will help your child with budgeting for the upcoming school year.
  2. You and your child will be required to use earlier income and tax information. Beginning with the 2017-18 FAFSA, students will report income and tax information from an earlier tax year. For example, on the 2017-18 FAFSA, applicants–and their parents, as appropriate–will report 2015 income and tax information, rather than 2016 income and tax information. This change will make the FAFSA easier because you will already have done your taxes by the time your child fills out the FAFSA, and you may be able to automatically import your tax information into your child’s FAFSA. (if your child files his or her own taxes, then your child may be able to import the tax information too.)
Creating and Using Your FSA ID

How to Create a FSA ID Resources:

YouTube Video

PowerPoint

FSA ID FAQs

Create Your FSA ID:

StudentAid.gov

FSA ID Worksheet

OTC Dates to Know

Award Letter Start Date:  November 1, 2016

Early Action Date of FAFSA and Related Documents:  May 15, 2017

Foundation and Institutional Application Deadline Date:  June 1, 2017

Early Decision and Award Letter Acceptance Date Begins:  July 15, 2017

-What You Need to Know About the 2017-18 FAFSA

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