CPA Dave Young from the New York State Society of CPAs discussed some beneficial changes to the FAFSA application Monday during News 8 at Sunrise.
Young said FAFSA, which stands for the Free Application for Federal Student Aid, is the application that students fill out to receive federal student aid such as grants, federal loans and work-study opportunities to attend an eligible college or career school.
There are two major changes to the FAFSA for the 2017-18 school year which began July 1 and ends June 30, 2018. The FAFSA will now be available at an earlier date and income information from an earlier tax year can be submitted. Young said these changes will make it easier for families to submit their applications in a timely manner.
If you are planning for the 2018-19 school year, beginning on July 1, 2018 applications can be submitted on October 1 of this year and tax info from 2016 can be used if needed.
Young noted there are important FAFSA deadlines. The federal and state deadline for this year is June 30, 2018, but the colleges will have their own deadlines. He advised getting your application started as soon as possible.
For more information about FAFSA, click here.
For more information about the New York State Society of CPAs, click here.