Fact: The 2017-2018 FAFSA (also known as the early FAFSA) becomes available on October 1, 2016.
Once upon a time, families hurried to file taxes and then hurried to fill out a FAFSA in January/February/March every year. That is no longer the case! Students can fill out (or renew) their FAFSAs in the fall, on or after October 1. The early FAFSA will give the student and their family more time to get the FAFSA completed, earlier.
Fact: The early FAFSA will cover any classes between July 1, 2017 and June 30, 2018.
Although the window to fill out a FAFSA has increased, each FAFSA will still cover one academic school year. The new school year always begins on July 1 of a given year. In other words, the FAFSA typically covers fall and then spring of a particular school year.
Fact: The early FAFSA will ask about 2015 Federal tax information.
The FAFSA will ask about 2015 Federal taxes (not state taxes) and income information. The assets and investments you list on the FAFSA, however, will be current net worth as of the day you’re filling out the FAFSA. Use our FAFSA Checklist for complete list of required information.
Fact: FSA IDs are necessary to complete the FAFSA.
In order to electronically sign and submit a FAFSA, every student will need an FSA ID. If the student requires parent information on their FAFSA, then one parent will need a separate FSA ID. Watch the FSA ID video to see how to create one. If you feel there are special circumstances making you or a parent ineligible for an FSA ID, talk to EducationQuest for additional information.
Fact: You can select up to 10 colleges to receive your FAFSA information.
You don’t have to know for sure what college you are going to attend in order to fill out a FAFSA. Generally, you should apply for admission to multiple colleges that you’re interested in attending, apply for scholarships to multiple colleges, and send your FAFSA information to those same schools. Then, each respective college will respond to you (the student) with an offer of financial aid, if you are accepted for admission.
Fact: EducationQuest will conduct Financial Aid Programs around the state to help you prepare.
Visit our calendar of events on EducationQuest.org to see when we’re visiting your area!
Fact: The College Funding Estimator is a great prep tool to do before the actual FAFSA.
If you want a good idea of what your FAFSA results may be, try using the College Funding Estimator. It is like doing a practice FAFSA, without submitting one, and you can even compare your estimated FAFSA results to the cost of attending a particular college.
Fact: You can visit EducationQuest.org for other helpful tools and resources regarding the FAFSA.
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