What Students and Parents Need to Know About the 2017-2018 FAFSA at IUPUI
What's changing for 2017-2018?
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.
How will the changes benefit me?
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. Learn about the IRS DRT at StudentAid.gov/irsdrt.
• 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 state and school deadlines.
Will I receive aid offers earlier if I apply earlier?
We expect to begin sending Financial Aid Notifications in late December 2016 for Fall 2017 incoming freshman. We expect to send Financial Aid Notifications to continuing students in June 2017 (after 16-17 grades have been reviewed).
Will FAFSA deadlines be earlier since the application is launching earlier?
The state of Indiana will continue to utilize a March 10 filing deadline until further notice. So the IUPUI priority filing deadline for the 17-18 FAFSA is March 10, 2017. But students are encouraged to file the FAFSA earlier to find out what they will qualify to receive earlier.
Since the 2017-18 FAFSA asks for the same tax and income information as the 2016-17 FAFSA, will my 2016-17 FAFSA information automatically be carried over into my 2017-18 renewal FAFSA?
No, too much could have changed since you filed your last FAFSA, and there's no way to predict what might be different, so you'll need to enter the information again. However, keep in mind that many people are eligible to use the IRS Data Retrieval Tool to automatically import their tax information into the FAFSA, making the process of reporting tax information quick and easy.
Can I choose to report 2016 information if my family's financial situation has changed since our 2015 taxes were filed?
You must report the information the FAFSA asks for. If your family's income has changed substantially since the 2015 tax year, email us at email@example.com and briefly describe your situation.
Note that the FAFSA asks for marital status as of the day you fill it out. So if you're married now but weren't in 2015 (and therefore didn't file taxes as married), you'll need to add your spouse's income to your FAFSA. Similarly, if you filed your 2015 taxes as married but you're no longer married when you fill out the FAFSA, you'll need to subtract your spouse's income.
Where can I get more information and help with the FAFSA?
Contact our office or visit StudentAid.gov/fafsa and remember, as you fill out your FAFSA at fafsa.gov, you can refer to help text for every question and (during certain times of day) chat online with a customer service representative.
317-274-5555 420 University Blvd. Indianapolis, IN 46202 AskIU@iu.edu