Financial Aid Rumor?

[med007]

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Hi,

I've heard through the grapevine that, if your parents have not been able to complete their taxes for 2007 yet, they can submit their tax returns/W2s from 2006 for FAFSA, Need Access, etc. in order to make a med school's deadline. Then, when they finish their returns for 2007, they can submit their returns at a later time (April, May).

Does anyone know if this is valid?

 

[Doctor Bagel]

You can submit estimates if you haven't filed yet, but you do have to mark on the FAFSA that you haven't filed. And yes, you do need to update the FAFSA once the real tax information is available.

 

[appleplshr]

Med007,

Just called the financial aid office at one of my schools (Loyola). It's okay if you don't have parent info for the FAFSA, however you will need it for most schools' seperate financial aid appliation, and at least for Loyola, they will not accept 2006 tax info in lieu of 2007.

The woman I spoke too said they wouldn't process fin. aid information without a 2007 tax form from my parents. Now to convince my parents to fill this out ASAP...should be fun 🙂

~Apple

 

[RockfordWF]

Hi,

I've heard through the grapevine that, if your parents have not been able to complete their taxes for 2007 yet, they can submit their tax returns/W2s from 2006 for FAFSA, Need Access, etc. in order to make a med school's deadline. Then, when they finish their returns for 2007, they can submit their returns at a later time (April, May).

Does anyone know if this is valid?

I've always submitted FAFSA prior to tax returns. You are allowed to estimate.

 

[se2131]

Hi,

I've heard through the grapevine that, if your parents have not been able to complete their taxes for 2007 yet, they can submit their tax returns/W2s from 2006 for FAFSA, Need Access, etc. in order to make a med school's deadline. Then, when they finish their returns for 2007, they can submit their returns at a later time (April, May).

Does anyone know if this is valid?

You can estimate for FAFSA and other online forms using 2006, but will need to update later.

If the school requires a copy of your tax returns, most will accept 2006 tax returns for now to give you some sort of estimate, and you can send in 2007 when it comes in. But some schools won't accept 2006 tax returns at all (e.g. Emory, Vanderbilt). Call up the individual schools and ask what their policies are.