Is FAFSA 2 years prior?
Beginning with the 2017–18 FAFSA, students will report income information from two years prior, which in this case is 2015 income information—two tax years before the beginning of the school year.
When should I fill out FAFSA for fall 2022-2023?
This means that students attending college for the 2021-2022 school year can fill out the FAFSA between October 1, 2020 and June 30th 2022. It also means that someone attending school for the 2022-2023 academic year can fill out their FAFSA between October 1, 2021 and June 30th, 2023.
Can you get FAFSA for previous years?
The January 1 FAFSA required families to gather income data from the previous year and either file or estimate income taxes as part of the aid calculation. That’s why families are now able to use “prior-prior year” financial information — actual tax data from their most recent completed filing.
Why does FAFSA use 2 year old taxes?
The prior-prior year (PPY) is the year before that. Thus, the prior-prior year provides two-year-old income information. This increases the number of applicants who can use the IRS Data Retrieval Tool, thereby increasing the accuracy of the information submitted on the FAFSA.
What tax year do I use for FAFSA 2021 2022?
Students must complete the form for each year they wish to receive aid. The 2021-2022 FAFSA relies on 2019 tax information, which may raise questions and cause problems for families in the wake of the pandemic and its economic consequences that occurred between the filing of those taxes and now.
What tax year is the 2022-2023 FAFSA based on?
For the 2022-2023 FAFSA, you will complete this section with your 2020 tax forms (remember, the FAFSA uses financial data from the prior, prior year and not the prior year).
When is the deadline to submit a FAFSA form?
Some states have hard deadlines and others have suggested dates to make sure you get priority consideration for college money. Many states have limited funds, so their FAFSA deadlines may be quite early. If your state’s deadline is “as soon as possible after Oct. 1, 2019,” you should get your FAFSA form submitted ASAP.
What do you need to know about the FAFSA form?
Completing the Free Application for Federal Student Aid (FAFSA ®) form allows you to be considered for federal student aid. In addition, states and colleges use FAFSA information to award their own grants, scholarships, and loans. But, since aid is limited, you have to meet the deadlines!
When to apply for federal student aid 2020?
As soon as possible after Oct. 1, 2020. Awards made until funds are depleted. Check with your financial aid administrator. Additional forms might be required. For priority consideration, submit your application by midnight CT on May 1, 2021. May 1, 2021. 30 days after term starts, by midnight CT.
When to submit FAFSA application for priority consideration?
For priority consideration, submit your application by midnight CT, Feb. 15, 2021. Additional forms might be required. Contact your financial aid administrator or your state agency. For priority consideration, submit your FAFSA form by May 1, 2021.