Monthly Features

The New Financial Aid Myth

We have had parents say they are going to wait until after January 1 so they can use 2016 tax information because they think it will put them in a better light. ALL FAFSA filers must use 2015 tax information! Subsequently they can ask each college’s financial aid director to make a “professional judgment” and use 2016 tax information instead, but that will be at the sole discretion of each individual financial aid director.

We also have had families asking if they will  get earlier financial aid awards now if the student has been admitted? Potentially yes, but the student should check with each individual college about its timeline for awarding financial aid. Not all of them are moving their awarding timelines up, unfortunately from our point of view. The earlier a student finds out the money they need just isn’t available, the earlier we can try to find a suitable alternative college where the financial aid DOES work.

Publication Date: November 2016