FAFSA: Earlier & Simpler - ACT

FAFSA:

Earlier & Simpler

MorraLee Keller

Director of Technical Assistance

National College Access Network

2017�\18 FAFSA Changes

? Submit a FAFSA? Earlier: Students will be able to file

a 2017�C18 FAFSA as early as Oct. 1, 2016, rather than

beginning on Jan. 1, 2017.

? Use Earlier Income Information: Beginning with the

2017�C18 FAFSA, students will report income

information from an earlier tax year. For example, on

the 2017�C18 FAFSA, students (and parents, as

appropriate) will report their 2015 income

information, rather than their 2016 income

information.

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What Does This Mean?

? Early FAFSA

? Prior Prior Year �\ Use federal tax info from TWO YEARS ago (as

opposed to the previous year��s tax info)

? Students entering college in fall 2017 will use tax year 2015 info

to complete the FAFSA

? Returning students will use 2015 income on two separate FAFSA��s

? How early? Starting October 1, 2016

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Why the Change?

? Increase use of the IRS DRT (Data Retrieval Tool)

�C Pre�\filled FAFSA = simplified/shortened form

? Reduces likelihood of being selected for verification

? Longer time frame to file the FAFSA

? More time to make college�\related decisions

? Perhaps more likely to attend college

? NASFAA data confirms that PPY yields same eligibility

as PY 98% of the time

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Is This a Good Thing?

Students will:

? Know initial federal estimated awards earlier

? Be able to use the IRS data retrieval tool

? Less students in verification

? Enjoy a longer timeline for special

circumstances and appeals

? Certainty of data due to less usage of estimates

? Have the ability to make a more informed decision

about where to attend college

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