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FAFSA Questions
Hi!
I need help. I have been told that the sooner to you submit your FAFSA the more money you get. Is it possible to submit your FAFSA with taxes from last year and then go back when you file taxes this year and edit the FAFSA?
Someone told me it was possible, but I just wanted to make sure.
Thank you!
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Want to answer more questions in the Work & School category?
Maybe give some free advice about: Colleges & Universities?
The following was taken directly from the instruction sheet for filling out the FAFSA form. You can file now and then update your form with completed tax information after your parents have filed their tax returns. Instructions for doing so are on the FAFSA application instructions
"If you (or your parents) need to file a 2011 income tax return with the Internal Revenue Service (IRS), we recommend that you complete it before filling out the FAFSA. If you have not completed your return yet, you can submit your FAFSA now using estimated tax information, and then correct that information after you file your return.
The easiest way to complete or correct your FAFSA with accurate tax information is by using the IRS Data Retrieval Tool through www.fafsa.gov. In a few simple steps, you may be able to view your tax return information and transfer it directly into your FAFSA."
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Yep! Colleges understand using last year's taxes, as most people have not filed this year's taxes yet. You just have to submit your W-2 forms and such when you finish your 2012 taxes.
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