Updating financial aid
This allows you to file the FAFSA before filing your previous year’s taxes.Good deeds have a profound impact on our students, and we are grateful for the generous support and contributions from friends of UChicago.Remember, when you file a FAFSA, you attest that the information you provided is accurate and correct as of the date on which it was signed.Once a FAFSA is on file for the award year, you should not complete a brand-new FAFSA for that same year. However, your financial aid office will be your best resource for determining if or when any changes should be made.The process changed last year and now the FAFSA becomes available on October 1 and students complete it using income information from two years prior (“prior-prior”).This means that current high school seniors applying for financial aid for 2018-19 will use tax information from their parents’ and their own 2016 income tax returns.
It gives them more time to compare financial aid awards and to appeal awards before accepting a spot at a college.
When you fill out a Free Application for Federal Student Aid (FAFSA), make sure all the information you provide is accurate and reflects your standing as of the day you completed the FAFSA.
However, there may be circumstances when your FAFSA might need to be corrected or updated.
Generally, most grants are need-based and most scholarships are merit-based. » Learn more: How Colleges Award Financial Aid — and How to Estimate Yours Last year, the Department of Education began opening the FAFSA earlier, in October instead of January.
You can access the FAFSA for the 2018-19 school year starting on Oct. The department also changed the tax year from which families should submit income information.