FAFSA is Moving to Prior-Prior-Year
Students and families seeking financial aid for the 2017-2018 academic year should be prepared for some big changes coming to the FAFSA.
The FAFSA will now open October 1, instead of the traditional January 1. It will also ask applicants for financial aid to use prior-prior-year tax information, rather than prior-year tax information. That means rather than using last year's tax returns, filers will use tax returns from two years ago. Those filing for aid for the 2017-2018 academic year will use tax returns from 2015, and those filing for the 2018-2019 academic year will use their returns from 2016.
What does this mean for students and their parents? It means no more scrambling to file taxes January 1 so they can fill out the FAFSA immediately. It also means the length of the filing season will increase, so students have more time to apply for aid.
We've put together a comprehensive document on prior-prior-year and how the switch will affect students, their families and financial aid.