(KMSP) - Students applying for financial aid need to remember a new important date – Oct. 1. That is now the day students can begin submitting their Free Application for Federal Student Aid, or FAFSA.
Based on changes passed in 2015, this year and every year going forward, students will be able to file their 2017-18 FAFSA starting on Oct. 1. In the past, the financial aid application was not available until January first.
It is important for students to get the application in early because some financial aid is awarded on a first-come, first serve basis, meaning the money could be gone if students wait too long to file their FAFSA.
Additionally, student will now use earlier income information on their applications. This means for the 2017-18 FAFSA, students, and parents, will report their income information for the 2015 tax year, rather than their 2016 income information.
It is free to fill out the FAFSA form and it can be done online.
For more information on the FAFSA changes, click here.