FAFSA Rule Changes Coming

There have been some changes instituted in the way FAFSA paperwork is handled. For a full explanation check out Michael Kitces post. The short of it is that starting with the 2017-2018 school year student applications can be filled out using year tax numbers from two years prior. This makes it much easier for parents and students who will no longer have to wait until their previous year taxes are completed in order to finish their FAFSA paperwork. For the 2017-2018 school year, 2015 taxes will be used. This means 2015 taxes will be used twice. Once next year and then again in 2017-2018.