Question on filling out FAFSA

[Disney loving Iowan]

My DD is going to be a senior this next year so we are looking into scholorships etc. We are also going to apply for FAFSA but aren't sure if we should apply for it now or after she graduates. We had someone tell us we should do it now but there is a question on it about where you graduated from so this makes us unsure what to do. Unfortunatly if we are to do it this year we have to have it done today. So if there is anyone who knows what we should do we would sure appreciate a quick answer. Thank you very much!!!

 

[jlder72]

My DD is going to be a senior this next year so we are looking into scholorships etc. We are also going to apply for FAFSA but aren't sure if we should apply for it now or after she graduates. We had someone tell us we should do it now but there is a question on it about where you graduated from so this makes us unsure what to do. Unfortunatly if we are to do it this year we have to have it done today. So if there is anyone who knows what we should do we would sure appreciate a quick answer. Thank you very much!!!

Is your daughter going to be starting college fall of 2011? If so, don't fill out the FAFSA until your taxes are done for 2010 as that is what they will use as a base for the schoolyear 2011.

 

[MnMomtoboys]

Yes you can't fill it out until you do your taxes next year. Well you could do it before than but after is easier. At least thats what I've been told.

 

[Disney loving Iowan]

Is your daughter going to be starting college fall of 2011? If so, don't fill out the FAFSA until your taxes are done for 2010 as that is what they will use as a base for the schoolyear 2011.

Okay, that makes sense then. She will be starting fall of 2011 so we need to wait. Thank you very much!

 

[Disney loving Iowan]

Yes you can't fill it out until you do your taxes next year. Well you could do it before than but after is easier. At least thats what I've been told.

Thank you so much!

 

[golfgal]

Start looking at scholarships now though, some have deadlines in the fall.

 

[msmayor]

The FAFSA for the 2011/2012 school year will not be available until January of 2011.

While some posters have said 'don't fill it out until your taxes are done', PLEASE be aware that you CAN fill it out with estimates. It should not be the completion of your tax return that drives when the form is completed, it is the school's deadline for priority financial aid that should determine when you finish it.

There are some schools that will require FAFSA to be filed no later than January 31 for priority consideration. My daughter's school has a date of February 15th for priority consideration.

If you want to be first in line for aid, then you MUST meet the school's filing deadline. You complete FAFSA with estimates and file, making the final 'corrections' after your tax return is complete. Miss that deadline, and your information waits until all those who DID file on time get their piece of pie. You get whatever is left, if anything.

 

[Disney loving Iowan]

Start looking at scholarships now though, some have deadlines in the fall.

We have told our DD that that is her summer job! She has been checking on them everyday and is doing some essays now. So we are at least working on that much. Thanks Golfgal.

 

[Disney loving Iowan]

The FAFSA for the 2011/2012 school year will not be available until January of 2011.

While some posters have said 'don't fill it out until your taxes are done', PLEASE be aware that you CAN fill it out with estimates. It should not be the completion of your tax return that drives when the form is completed, it is the school's deadline for priority financial aid that should determine when you finish it.

There are some schools that will require FAFSA to be filed no later than January 31 for priority consideration. My daughter's school has a date of February 15th for priority consideration.

If you want to be first in line for aid, then you MUST meet the school's filing deadline. You complete FAFSA with estimates and file, making the final 'corrections' after your tax return is complete. Miss that deadline, and your information waits until all those who DID file on time get their piece of pie. You get whatever is left, if anything.

Thank you! We will look into this further to see when the deadline is. I just know that the one deadline that we saw for Iowa was July 1st. Not sure if that would be different from the one for the individual school?
I think maybe my DH needs to get a look at the answers here since he is the one who was filling out the form.

 

[msmayor]

Thank you! We will look into this further to see when the deadline is. I just know that the one deadline that we saw for Iowa was July 1st. Not sure if that would be different from the one for the individual school?
I think maybe my DH needs to get a look at the answers here since he is the one who was filling out the form.

Each state has a deadline for the processing of any state grant money. Those deadlines 'may' coincide with a school, but I can assure you that MOST schools have deadlines well before July 1 for priority aid consideration. Again, this doesn't mean you won't get any aid...but if you wait until July to file FAFSA your child could potentially miss out on other aid available at the school because it will have been divided up amongst those who filed earlier. New Jersey's deadline is June 1 but as I said in my other post, my daughter's school has a February 15 priority deadline.

Schools in general send Financial Aid Award letters for the upcoming school year in mid-late April. This is so incoming freshman have an idea of their aid situation before the deadline for admission acceptances; for many schools that date is May 1.

Again, check EACH individual school your child expects to apply to for their deadline, and meet the date that comes first. The information on their priority deadline should be found on their websites, or by contacting the financial aid office. You can send your FAFSA application information to up to 10 schools at a time, and once those 10 are processed (a few days) you can send to 10 more.

 

[tasha99]

My state has both a deadline for priority funding, and a first come, first served policy. I do FAFSAs for myself and my two teenagers the first week of January with my estimated taxes. My youngest teen hasn't even gone to college yet, but I fill out info for her just in case. I will continue to do this every year, even if she ends up working for a while before deciding to go to college. There is no penalty for not needing the funds after alll, so I recommend applying as soon as possible.

 

[Spacepest]

If you want to be first in line for aid, then you MUST meet the school's filing deadline. You complete FAFSA with estimates and file, making the final 'corrections' after your tax return is complete. Miss that deadline, and your information waits until all those who DID file on time get their piece of pie. You get whatever is left, if anything.

I want to emphasize this.

My parents were those people who dragged their heels and refused to file early. So while I did qualify for aid, I didn't get any because my school's financial aid fund had been exhausted by all the students who had applied before me. There is nothing worse as a young college student than having the experience of going to your campus's financial aid office with a financial aid reward letter to be told, "sorry, we're all out of money."

 

[AshleyW]

Thank you! We will look into this further to see when the deadline is. I just know that the one deadline that we saw for Iowa was July 1st. Not sure if that would be different from the one for the individual school?
I think maybe my DH needs to get a look at the answers here since he is the one who was filling out the form.

The deadline will be different for each school. I don't know if your DD will be attending a state school, but for example, the U of Iowa suggests that you have it completed by March 1st, as they award everything on a first-come, first-serve basis. The priority date for Iowa State is March 1st, as well.

 

[MinnieFlute]

I always filled mine out the spring before. The earlier the better, you just have to have your tax forms ready to go because they will need a lot of that information. Your school probably has a priority deadline, but you can turn it in as late as necessary - there might just be less funding available. My first year was miserable getting it in because my school lost some forms (well longer story than just that, but I digress) and then my last year I did wait until the summer because I got married and it was more beneficial to not be required to put my mom's income on there, too.

Good luck!

 

[MrsPete]

I want to emphasize this.

My parents were those people who dragged their heels and refused to file early. So while I did qualify for aid, I didn't get any because my school's financial aid fund had been exhausted by all the students who had applied before me. There is nothing worse as a young college student than having the experience of going to your campus's financial aid office with a financial aid reward letter to be told, "sorry, we're all out of money."

I had that same experience. I completely understood that my parents didn't have money to give me for college . . . but I'm still a little ticked that they refused to fill their taxes -- something they were going to have to do eventually anyway -- in January instead of April. Well, that and a few other things that they did, knowing that it would hurt me during my college years.