The FAFSA uses tax information from what's known as the "prior prior year" – verified federal tax returns from two years ago. A family completing the FAFSA for the 2025-2026 academic year will use the 2023 tax return. The use of verified tax returns from the prior prior year reduces th...
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If colleges find discrepancies between the actual tax documents that came in and what was on the FAFSA, they can make the corrections and update it, Keller says. "Then they can move on with processing the student's financial aid." 2. Don't Panic If you'...
You’ll use information from the most recent tax year available. FAFSA typically allows families to use the IRS Data Retrieval Tool (IRS DRT) to automatically pull tax information, simplifying the process. Additionally, assets like savings, investments, and real estate (other than the family home...
The FAFSA takes most people about 20 minutes to complete, and you can do it online. Attention, Students: The FAFSA Is Due Thursday The FAFSA form is due in January, and is used to determine eligibility for Pell Grants and federal student loans. Easing FAFSA frustrations For example, this ...
Your parents may be able to use theIRS Retrieval Toolto transfer their tax return information to your online FAFSA. Also,you have to report any financial benefits you received in the previous year, even if you're a dependent. What Happens After You File Your FAFSA?
student What if you get married but not in the tax year required for FAFSA®? The tax year reflected on your FAFSA® may not reflect your current marital status. If you recently got married (or divorced) there are things to keep in mind. Continue, What if you get married but not ...
Continue, Changes to the FAFSA® for the 2024-25 school year student What if you get married but not in the tax year required for FAFSA®? The tax year reflected on your FAFSA® may not reflect your current marital status. If you recently got married (or divorced) there are things...
The FAFSA is widely known as being complex. It requires students to respond to a number of questions that may take some time to complete. Importantly, families need to submit a new FAFSA every year in order to maintain their financial aid, or to try again if they didn’t get any aid t...