In an article published on Feb. 13, 2017 by U.S. News & World Report, Jamie Canup provides guidance to students and families who are applying for college financial aid. The article details tips for getting the biggest aid package possible and using college savings wisely. When approaching the Free Application for Federal Student Aid (FAFSA), Canup states, "Families may not be aware that the base year is no longer the prior year's tax return but the year prior to that year – so for [fall of] 2017, using 2015 rather than 2016 as the base year for reporting income.” He emphasizes, “The FAFSA can now be filed out [as early as] October rather than waiting until January, which means you may have a better sense of what your financial aid package will look like at each school prior to making a decision as to which school to attend.” For the full article, you may click here.
Stephanie A. Hood