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FAFSA Filing Changes
FAFSA filing is changing!
Beginning October 1, 2016, the FAFSA process is changing. Applicants will now use your completed and filed Federal tax return from the prior year to apply for the upcoming year.
For example, if you are applying for Federal Aid for the 2017-18 school year, you will use your filed Federal return from 2015.
NOTE: If you completed a FAFSA for the 2016-17 school year, you will be using the same tax return you used to complete that FAFSA.
Automated Data Retrieval
FAFSA applicants are now able to upload income information directly from the IRS using the Data Retrieval Tool. You will be asked a few questions when you are completing your FAFSA to determine if you are eligible to use this tool, and prompts will walk you through the simple procedure.
Transferring data directly from the IRS ensures great accuracy on the FAFSA form, and reduces the likelihood of being selected for verification. Those who are selected for verification will not need to provide documentation of income, making the process much more streamlined.
Earlier Filing. Earlier Award Notification.
In previous years, the FAFSA could not be filed until after January 1 of the year you intended to attend college, and didn’t know your award amount until April or May.
Moving the application availability up to October 1 means you also will receive your award notification sooner. Most likely, you will know your award amounts in January or February, which is a big help to incoming freshmen making their final college decision!