Wednesday, September 28, 2016

Important News on FAFSA

From the Federal Student Aid office of the Department of Education:

FAFSA® Changes for 2017–18

On Sept. 14, 2015, President Obama announced significant changes to the Free Application for Federal Student Aid (FAFSA®) process that will impact millions of students. Starting with the 2017­–18 application cycle, the following changes will be put in place: 
  • Students will be able to submit a FAFSA® earlier.  Students will be able to file a 2017–18 FAFSA as early as Oct. 1, 2016, rather than beginning on Jan. 1, 2017. The earlier submission date will be a permanent change, enabling students to complete and submit a FAFSA as early as October 1 every year. (There is NO CHANGE to the 2016–17 schedule. The FAFSA became available January 1 as in previous years.)
  • Students will use earlier income information. Beginning with the 2017–18 FAFSA, students will be required to report income information from an earlier tax year. For example, on the 2017–18 FAFSA, students (and parents, as appropriate) will report their 2015 income information, rather than their 2016 income information. 
Please understand that this new earlier date means that the early bird may get the worm.  Have your student apply as soon as possible.

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