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Thursday, October 13, 2016

Important FAFSA Info.

Important Information from the Financial Aid Office 

 FAFSA :: What’s changing for 2017–18? 

Starting with the 2017–18 Free Application for Federal Student Aid (FAFSA®), these changes will be in effect:

  • You’ll be able to submit your FAFSA® earlier. You can file your 2017–18 FAFSA as early as Oct. 1, 2016, rather than beginning on Jan. 1, 2017. The earlier submission date will be a permanent change, enabling you to complete and submit a FAFSA as early as October 1 every year. 
  • You’ll use earlier income and tax information. Beginning with the 2017–18 FAFSA, students will be required to report income and tax information from an earlier tax year. For example, on the 2017–18 FAFSA, you—and your parent(s), as appropriate—will report your 2015 income and tax information, rather than your 2016 income and tax information. 

 We expect that you’ll benefit in these ways:

  • Because the FAFSA will ask for older income and tax information, you will already have done your taxes by the time you fill out your FAFSA, and you won’t need to estimate your tax information and then go back into the FAFSA later to update it.
  • Because you’ll already have done your taxes by the time you fill out your FAFSA, you may be able to use the IRS Data Retrieval Tool (IRS DRT) to automatically import your tax information into your FAFSA.
  • Because the FAFSA is available earlier, you may feel less pressure due to having more time to explore and understand your financial aid options and apply for aid before your state’s and school’s deadlines.

BAC Financial Aid Priority Deadline will continue to be April 15.

Link to complete a FAFSA:  www.fafsa.ed.gov

Please don’t hesitate to contact us at finaid@the-bac.edu or 617-585-0125 with any questions.

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