FAFSA filing changes for 2017-18 Academic Year
As you know, for each year your son or daughter is enrolled at Pace, you will need to file the FAFSA (Free Application for Federal Student Aid) in order to retain your Pace financial aid package.
In the past, the first date to file your FAFSA (Free Application for Federal Student Aid) was January 1 and your financial aid package would be based on the prior year’s income tax return.
For example, if you filed a FAFSA in January of 2016 to obtain a financial aid package for the Fall 2016 term, you would need to use your 2015 tax return information or an estimate of that information if you had not yet filed a return.
Since many people do not file a tax return at the beginning of the year, the federal government has now made it easier for parents to file a FAFSA.
Starting with the 2017-2018 FAFSA, you will use the “prior prior year’s” tax return (in other words, the tax return from two years ago). For example, if you are filing a FAFSA for your financial aid package for the 2017-18 academic year, you will use your 2015 tax return information. This makes the process of getting your financial aid package much less stressful.
Plus, you can now file a FAFSA as early as October 1, 2016.