This post may contain affiliate links
Are you confused by the recent changes to the FAFSA for the upcoming 2017-2018 academic year? Of course you are, otherwise, you wouldn’t be reading this post! And you are not alone. I’ve already spoken to a number of people voicing their bewilderment over these changes. Don’t worry, we will get you all squared away and you’ll be an expert on “Prior-Prior Year” by the time you are finished reading here today!
How do you fill the gap to pay those out of pocket education expenses?
I am in love with this FREE webinar from The Scholarship System!
DO I EVEN KNOW WHAT I’M TALKING ABOUT?
But first, let me introduce myself! Welcome to my blog, Frugal Nesting. I typically write about parenting young children, budgeting, and family life. However, I am also a financial aid professional. I’ve been working in finance for 14 years and 11 of those years have been in higher education.
Since I get so many questions about financial aid on a daily basis I figured I could take those questions and use my platform as a blogger to get answers out to the folks who need it. This is particularly useful if it’s hard to get in touch with a real person at your school or you are intimidated by reaching out directly.
Now please note that each school is different and every student has a unique situation, so always check with your school, tax preparer, and/or applicable state/federal sources before making financial aid decisions.*
Ok, on to the good stuff! Now historically, you couldn’t begin filing the Free Application for Federal Student Aid (FAFSA) until January 1st for the upcoming school year. And part of the process was answering questions about your income and, often, your tax return for the year that just ended. For example, we are just now wrapping up the 2016-2017 academic year. The 2016-2017 FAFSA became available on 01/01/2016 and asks questions about 2015 income and tax returns. Got that? Ok!
So if you are the parent of a rising sophomore, junior, or senior in college then you probably worked your way through all of that and might have even been feeling somewhat confident that you now know what to expect for next year. I mean it’s not your first rodeo anymore, right?!?!
Or this might actually be your first rodeo, but you’ve talked to friends & family who gave you all the pep talks to get you ready for this whole new world of sending your love off to college.
Or maybe you are a student moving forward into grad school and doing this all on your own for the first time, but you were paying attention when your parents did it all through undergrad, so no sweat…