Tax Day is past, do you need to amend your FAFSA? | 04.19.10

Posted in FAFSA, Financial Aid By Student Loan Network Staff

Hello everyone, I hope you are all having a pleasant Patriots Day! I’d like to take a second today and remind you that if your (or your parents’) taxes for 2009 ended up being different than what you filed on your FAFSA, you can actually file an amendment now and correct the information.

Why this is useful:

Did you end up making less money over last year than you thought? If you did, this can actually increase the amount of federal aid you receive for your education. It isn’t uncommon for many parents and families to file their FAFSA with the previous years taxes (in this case, 2008) just to get the application in, and then amend the information once their taxes are filed for the current year. If this is how you prepared your FAFSA and some income was lost in the meanwhile, your financial aid package could get quite a bit bigger.

If you amend your FAFSA… make sure to notify your school’s financial aid department of the changes. You can also look into a financial aid appeal if you feel that you are not receiving enough aid for the school year. I personally used financial aid appeals twice during my time in college and usually got about $4,000 more in grants/loans than what was originally awarded to me.

Thanks for reading and enjoy the holiday!


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One Response to “Tax Day is past, do you need to amend your FAFSA?”

  1. cna training says on April 29, 2010 at 11:20 pm:

    What a great resource!

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