Changes Impacting the 2017-18 FAFSA
This file explains the major changes to the FAFSA for the 2017-18 school year, including earlier availability and the use of prior-prior year income information. It provides details on how these changes will benefit students and answers frequently asked questions about the new process.
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How do I fill this out?
To fill out the FAFSA form, start by gathering all necessary information and documentation. Follow the step-by-step instructions provided on the form. Make sure to review and double-check all entered information before submission.
How to fill out the Changes Impacting the 2017-18 FAFSA?
1
Gather all necessary information and documentation.
2
Complete the required fields on the FAFSA form.
3
Use the IRS Data Retrieval Tool to import tax information if applicable.
4
Review and double-check all entered information.
5
Submit the completed form before the deadline.
Who needs the Changes Impacting the 2017-18 FAFSA?
1
High school seniors who plan to start college in the 2017-18 school year need this file to apply for federal student aid.
2
College students continuing their education in the 2017-18 school year need this file to reapply for federal aid.
3
Parents of dependent students need this file to provide their financial information for the FAFSA.
4
Financial aid advisors use this file to understand the changes and assist students in applying for aid.
5
State agencies and colleges rely on information from this file to determine eligibility for state and institutional aid.
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What are the instructions for submitting this form?
Submit the completed FAFSA online at fafsa.ed.gov. You can also mail the paper FAFSA to Federal Student Aid Programs, P.O. Box 7656, London, KY 40742-7656. For assistance, contact Federal Student Aid Information Center at 1-800-433-3243.
What are the important dates for this form in 2024 and 2025?
For the 2024-2025 school year, the FAFSA will be available starting October 1, 2023. For the 2025-2026 school year, it will be available starting October 1, 2024.
What is the purpose of this form?
The purpose of the FAFSA is to determine a student's eligibility for federal financial aid to help pay for college. This aid can take the form of grants, work-study opportunities, or student loans. In addition to federal aid, many states, colleges, and private organizations use the FAFSA information to award their own aid. The 2017-18 FAFSA introduces two key changes aimed at simplifying the financial aid process for students and their families. Firstly, the form will be available earlier, starting October 1, 2016, which aligns better with college application timelines. Secondly, it will require tax information from two years prior, making it easier for families to provide accurate data without having to estimate their income. These changes are designed to reduce stress and allow students to make more informed financial decisions as they plan for their education.
Tell me about this form and its components and fields line-by-line.
- 1. Student Information: Includes personal details such as name, date of birth, and contact information.
- 2. School Selection: Allows applicants to list up to ten colleges or schools they are interested in attending.
- 3. Dependency Status: Determines whether the student is dependent or independent for financial aid purposes.
- 4. Parent Information: Requires details about the student's parents, including income and tax information.
- 5. Financial Information: Includes questions about the student's and parents' income, assets, and other financial details.
- 6. Signature: Requires signatures from the student and parent to certify the accuracy of the information provided.
What happens if I fail to submit this form?
Failure to submit the FAFSA can have serious consequences for students seeking financial aid. Missing the deadlines can result in the loss of eligibility for various types of aid.
- Loss of Federal Aid: Students may miss out on Federal Pell Grants, loans, and work-study opportunities.
- Loss of State Aid: Many states use FAFSA information to award state-specific grants and scholarships.
- Loss of Institutional Aid: Colleges and universities often rely on FAFSA data to distribute their own financial aid to students.
- Higher Out-of-Pocket Costs: Failure to secure financial aid can result in higher education expenses for students and their families.
- Delayed Education Plans: Without financial aid, students may need to postpone or alter their education plans.
How do I know when to use this form?
- 1. High School Seniors: Use the FAFSA to apply for financial aid for the first year of college.
- 2. Current College Students: Reapply for financial aid for each subsequent year of attendance.
- 3. Graduate and Professional Students: Use the FAFSA to apply for aid for advanced degree programs.
- 4. Parents of Dependent Students: Provide financial information required for their child's FAFSA.
- 5. Financial Aid Advisors: Assist students and families in completing and submitting the FAFSA.
Frequently Asked Questions
What is the FAFSA and how is it changing?
The FAFSA is the application for federal student aid. Changes include earlier availability and the use of prior-prior year income information.
When can students submit the FAFSA for the 2017-18 school year?
Students can submit the 2017-18 FAFSA starting October 1, 2016.
What income information is required for the 2017-18 FAFSA?
The 2017-18 FAFSA requires income information from the 2015 tax year.
How does the IRS Data Retrieval Tool work?
The IRS Data Retrieval Tool allows applicants to transfer tax return information directly into the FAFSA.
Do students need to fill out the FAFSA every year?
Yes, students must complete the FAFSA each year they plan to attend school.
What are the benefits of the FAFSA changes?
Benefits include better alignment with the college application process, less need to estimate income, and more time to explore aid options.
Can students be selected for verification?
Yes, students may be selected for verification by the Department of Education or their school.
Do families need to complete their taxes before filling out the FAFSA?
No, families can use estimated income information and update it once taxes are completed.
What happens if I fail to submit the FAFSA?
Failure to submit the FAFSA can result in missing out on federal, state, and institutional financial aid options.
Can I use PrintFriendly to edit the FAFSA?
Yes, you can upload the FAFSA to PrintFriendly's PDF editor, make necessary edits, and download the updated form.
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