Starting this October (2016), FAFSA will be available three months earlier than before. Additionally, families will be recording prior-prior year tax information. This means that for a student in college during the 2017-2018 school year, his or her family will be recording earnings from the 2015 tax year.

So, what effect does this have? This change in FAFSA will have two large implications for families. Number one: this will allow families to determine their financial aid eligibility nearly 3-6 months earlier than ever before! In most cases, even families that required tax filing extensions will have completed taxes by October for the following year and will be able to complete a FAFSA when October rolls around.

Second, if a family has a substantial decrease in household income between the end of the prior tax year (2015 for example) and the beginning the school year (2017-18 for example), then income would not reflect an accurate expected family contribution (EFC). This means that financial aid offices will need to perform more professional judgement overrides than in years prior.

If you'd like the peace of mind of getting your FAFSA approved early, begin the process here. Please feel free to contact Oak Hills' Financial Aid Office with any questions or concerns.