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Question about filling out FAFSA..

HopeandLoveHopeandLove Posts: 54Registered User Junior Member
I'm going to be filling out the FAFSA in 2013 to start college in the fall of 2013. So my question is, when I'm filling out the FAFSA will I be using my parent's tax returns from 2011? Because their 2012 tax returns won't be ready in time for the FAFSA due date for the colleges that I'm applying to.
Any help would be greatly appreciated!
Post edited by HopeandLove on

Replies to: Question about filling out FAFSA..

  • happymomof1happymomof1 Posts: 23,422Registered User Senior Member
    You will file the 2013-2014 FAFSA using estimated tax figures for 2012. Then when you have the real 2012 tax figures, you will update the FAFSA.
  • annasdadannasdad Posts: 4,827Registered User Senior Member
    You can use the 2011 returns for the initial submission, but your aid awards will not be final until you update the information with the 2012 return data. You need to let your parents know that they need to do whatever is necessary to get their returns filed as early as possible.
  • annoyingdadannoyingdad Posts: 3,026Registered User Senior Member
    If your parent's income hasn't changed much from 2011 to 2012 you can use 2011 figures initially but if your parent's have a relatively simple tax situation(not self-employed, no rental income, only W-2 income and interest income etc.), it's better to estimate 2012 by using year end pay stubs and interest statements.
  • HopeandLoveHopeandLove Posts: 54Registered User Junior Member
    Thanks for the help everyone!
  • fr1992fr1992 Posts: 6Registered User New Member
    Every state has different priority deadlines for the FAFSA. I would suggest you look up the deadline for the state of your school.

    For the 2013-2014 FAFSA, you will be using 2012 tax information. The 2013-2014 FAFSA will go out on January 1, 2013. By that date, nobody will have filed their 2012 taxes. Therefor you can submit your application using estimated income (in ways that the others above me have replied). Once your parents have filed taxes, which you should tell them to do as soon as they can in 2013, you can log back in to your FAFSA and make a "correction." When updating your tax information is important that you look at the help boxes on the right hand side. They tell you exactly what lines to look at on your parents taxes.

    Good luck!
  • cptofthehousecptofthehouse Posts: 26,432Registered User Senior Member
    Be aware that the colleges do not dispense the money until they have verified the info with the taxes, It's just too bad if you parents need an extension. If that happens, they need to file their taxes anyways and file a corrected return when their info is ready or you may not get your financial aid.
  • scmom12scmom12 Posts: 2,097Registered User Senior Member
    This is a good reminder for your parents that they need to be sure to do their 2012 taxes asap so that you can complete FAFSA...not a year to file for extensions, etc.
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