03 Oct 3 things to know about FAFSA
St. Edward’s University.
SIMPLIFYING THE FAFSA
The Free Application for Federal Student Aid (FAFSA) is now open. And because of the changes and the early launch date, we’re sharing the top three things to keep in mind about this year’s early FAFSA.
1. The FAFSA opens earlier.
This year, the 2017-2018 FAFSA opens on Oct. 1, three months sooner than the traditional Jan. 1 date. Now, families have the ability to file the FAFSA earlier in the college application cycle.
2. Families can use the IRS Data Retrieval Tool to provide the prior year’s income.
Because the FAFSA is available in October, students and parents will provide 2015 income on the 2017-2018 FAFSA. Most tax return filers will be able to electronically transfer their tax information directly into their FAFSA by using the IRS Data Retrieval Tool. This makes filing the FAFSA easier and faster.
3. Schools may offer earlier financial aid packages.
Since students and parents can fill out the FAFSA earlier in the college application year, some colleges and universities, including St. Edward’s University, will be able to award financial aid packages sooner. St. Edward’s plans to start sending out financial aid packages around mid-November to students who have been admitted for Fall 2017 and have a valid FAFSA on file.
An added bonus: Because of the earlier timeframe, if students decide to apply to additional schools, they now have more time to log back in at fafsa.gov and list those schools on their FAFSA.