If you have a student in college, you are familiar with the Free Application for Federal Student Aid or FAFSA. And you know the drill: enter tax information before you have received your tax documents, email your accountant multiple times about getting the return done as quickly as possible, enter the final tax return figures into the website. All so that you can find out how little the school will give you in financial aid.
Well this year there are two major changes:
You may have other questions:
My income went down this year. Do I have to use the tax return from the higher income year?
Is this change permanent?
If I filled out the form using my 2015 return last year, do I have to fill it out again this year with the same information?
Good questions. Contact me today so we can discuss in further detail.
Send us a message and we'll be in touch soon!