Submit FAFSA ASAP?

[KUNRD07]

Is FAFSA for medical school like FAFSA for undergrad where it is important to submit it as soon as possible? If you weren't able to submit it until February or later, you wouldn't miss out on financial aid, would you?

Thanks!

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[BBender716]

Every school has their own due date before it starts to hurt you. GENERALLY, if you complete before the end of February, you should be good and have an equal chance as everyone else, but best to check with each school to make sure.

 

[Kalyx]

Agree with above. Also, you can't submit now because you need to provide information from you 2010 taxes, and that form won't even be mailed to you until around January 31st or so.



~Kalyx

 

[NickNaylor]

Get it in ASAP. That should be a safe strategy to follow.

 

[KUNRD07]

Get it in ASAP. That should be a safe strategy to follow.

Yeah, I guess this is fairly obvious. It's just that you can submit it with an estimation of your W2 information, etc. before you even receive your W2 forms, but I wasn't sure if it is worth the headache of calculating this estimation, submitting it to "get your place in line", and then going back and correcting it when you do receive your W2 information.

Thanks, again!

 

[s1lver]

I always submit mine before the 5th of January. This year, I submitted mine on the 3rd. I'll just edit it once I get my 1040A.

 

[Barcu]

Agree with above. Also, you can't submit now because you need to provide information from you 2010 taxes, and that form won't even be mailed to you until around January 31st or so.



~Kalyx

You can submit now, just estimate. Then, when you get the exact info, go back and change it.

Turn it in ASAP.

 

[gravitywave]

i know my school considers us to have met the "priority deadline" just provided we submit the FAFSA by the required date. The numbers can be really off, but you can amend it all you want later.

this kind of thing is super-school-specific, but I'd be really surprised if anyone punished you for not getting it in before February.

 

[Asyouwereatrio]

I'm curious why you guys give February as the date when March is the deadline. Is the Fin Aid process on a "rolling" system too, where if you submit it earlier you'll be more likely to receive aid? Is that the advantage of submitting it early?

Sorry guys, but I'm not too familiar with the FAFSA process...

 

[gravitywave]

i don't know if there is a rolling component - i tend to doubt it - but for me February is a de facto deadline because there really isn't any excuse for doing it any later than that, unless your parents have some bizarre tax situation going on - and even then you can estimate, as said before.

 

[eablackwell]

Yeah, I guess this is fairly obvious. It's just that you can submit it with an estimation of your W2 information, etc. before you even receive your W2 forms, but I wasn't sure if it is worth the headache of calculating this estimation, submitting it to "get your place in line", and then going back and correcting it when you do receive your W2 information.

Thanks, again!

I submitted mine on January 1st. It wasn't difficult for me because my husband and I have online access to our income statements. The taxes paid, gross income, etc are mapped out just like on the W-2.

My school's priority consideration date for the FAFSA is 1/27/11, but as others have mentioned, it varies by school.

 

[Asyouwereatrio]

I submitted mine on January 1st. It wasn't difficult for me because my husband and I have online access to our income statements. The taxes paid, gross income, etc are mapped out just like on the W-2.

My school's priority consideration date for the FAFSA is 1/27/11, but as others have mentioned, it varies by school.

Oh okay, that's probably why. the priority date for all of my schools is 01 March! Ya, my parents don't have their tax info in hand yet...and we have a lot of deductions so their AGI is different from the Gross income reported on the pay stubs/W2.

 

[Wermz]

Damn this thread stresses me out. I don't know the first thing about taxes and W2 forms and FASFA nonsense. I gotta do some googling.

 

[Kalyx]

You can submit now, just estimate. Then, when you get the exact info, go back and change it.

Turn it in ASAP.

Ah, I didn't realize you could estimate. Thanks!!


~Kalyx

 

[xPersephone]

Ah, I didn't realize you could estimate. Thanks!!


~Kalyx

I would check some of the financial aid forms/websites of some schools you applied to, from what I've seen some say not to use estimates, some are okay with it.

 

[alwaysaangel]

I wouldn't bother estimating. March 1st is usually the deadline, just get it in by then.

Med schools will find money for the need-based students regardless - so long as you meet THEIR deadlines.

And for some schools you will be accepted late and will be after their deadlines and they will still find you money.

I can't even imagine estimating and then redoing the FAFSA a second time, sorry but that sounds like an enormous waste of time with no benefit.

 

[matterotime]

So, for clarification, even if I haven't yet been accepted to a number of medical schools and I am still waiting to hear back from them, I should go ahead and fill out FAFSA for them on the chance that I do get accepted and end up attending that school? There is no harm in filling out FAFSA for schools that may end up rejecting me and I likely will not attend?

 

[JK47]

KUNRD07, I saw you on the Kansas forum, I will be in the class of 2015 too! And I had been thinking of asking this very question. But thanks for doing so.

I'll throw another variable into this whole equation, what is the process for applying for a waiver/exemption of the previous year's income from my FAFSA application? I applied to FAFSA long ago during undergrad, but it has probably changed since then so I will need to re-learn it and also try to figure out how this exemption works. I can kiss all aid goodbye as an engineer, but as soon as I start med school we'll be quite eligible for aid again! Maybe wait until the 2nd year for a better chance to receive aid.

Usually I would have reservations receiving gov't handouts but this will all be paid back in full and then some rather quickly even during residency with income taxes.

 

[gravitywave]

I wouldn't bother estimating. March 1st is usually the deadline, just get it in by then.

Med schools will find money for the need-based students regardless - so long as you meet THEIR deadlines.

And for some schools you will be accepted late and will be after their deadlines and they will still find you money.

I can't even imagine estimating and then redoing the FAFSA a second time, sorry but that sounds like an enormous waste of time with no benefit.

in my financial aid environment, i'd agree with you. but some folks will have personal/family situations in which they can't complete FAFSA by the deadline, so they probably are better off making the deadline with estimates, rather than being late. then apparently there are schools that have stupidly early deadlines, like ea mentioned.

So, for clarification, even if I haven't yet been accepted to a number of medical schools and I am still waiting to hear back from them, I should go ahead and fill out FAFSA for them on the chance that I do get accepted and end up attending that school? There is no harm in filling out FAFSA for schools that may end up rejecting me and I likely will not attend?

YESyesyesyes. financial aid offices don't care whether you're accepted or not. if you haven't submitted all your documentation by their deadline, you're late. you really need to keep track of the financial aid requirements for each school you haven't been rejected at yet (a pain, i know), and have a complete financial aid file with them even as you sit on the waitlist or whatever. this will become more important as the season goes on - past May 15th, schools will start calling with offers, and if you haven't started the fin aid process with them yet, you could be looking at being forced to make a choice on where to spend the next four years of your life without being able to compare the numbers.

I'll throw another variable into this whole equation, what is the process for applying for a waiver/exemption of the previous year's income from my FAFSA application? I applied to FAFSA long ago during undergrad, but it has probably changed since then so I will need to re-learn it and also try to figure out how this exemption works. I can kiss all aid goodbye as an engineer, but as soon as I start med school we'll be quite eligible for aid again! Maybe wait until the 2nd year for a better chance to receive aid.

this is highly, highly school-specific. you're going to need to make phone calls.

 

[JK47]

Gotchya, thanks for the tip gravitywave! Time to make friends with the finacial aid office.

 

[wolverinepwns]

My plan is to do as soon as I get my W2s

 

[Asyouwereatrio]

Hey guys,

I'm curious..after submission of the FAFSA, how do we go about making changes to the FAFSA once to accurately reflect our income after we've filed the 1040 Tax return? Do we just log back on to the FAFSA website?