New FAFSA Process for 2017-2018
In September 2015, President Barack Obama announced a change to the date when students and families can begin to submit a Free Application for Federal Student Aid (FAFSA), as well as a change to which tax year’s information will be collected on the FAFSA. Beginning with the 2017-2018 financial aid application cycle, the FAFSA will be available on October 1, 2016, instead of January 1, 2017. Due to the change, the 2015 tax year will be used twice for financial aid purposes (2016/2017 school year under current rules and 2017/2018 under the new rule) which is known as prior-prior year (PPY).
What this means
- Earlier FAFSA filing date – October 1, 2016, will be the first day you can submit your 2017/2018 FAFSA instead of January 1, giving students and their families more time to prepare.
- Easier submission process – The IRS Data Retrieval (DRT) now allows automatic population of a student’s FAFSA with tax return data which decreases the need to make corrections if you had filed your FAFSA with a “will file” tax return status. It will be a more effective, timely process under PPY, since tax data from two years’ prior will be available upon application.
Student are encouraged to visit the Student Finance Office and speak with us if they have any questions/concern.