Attending College In 2018-2019? Complete The FAFSA Now
October 04, 2017I know that it feels like this school year just started, but for people looking to maximize financial aid for next fall, it’s time to start thinking ahead already. As of October 1st, the 2018-2019 Free Application for Federal Student Aid (often called the FAFSA) is available for submission and includes a new and improved IRS Data Retrieval Tool, which makes filling it out much simpler (and safer)!
Why complete the FAFSA ASAP?
If you think you or your student may qualify for any need-based aid, it’s essential to file your form ASAP — many states and schools have a limited amount and it’s literally first come, first served. And since the “base year” that the form uses to evaluate your income and assets is now basically two years ago, you don’t have to wait until your taxes are done to file a complete form — the 2018-2019 form is based on your 2016 taxes, which, if they haven’t been filed yet, are due by October 16th this year at the very latest to avoid late-filing penalties.
In other words, you already have the numbers you need to complete the form for next year. Why not get a head start and take one thing off the list at tax time?
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