FAFSA changes mean students can start applying this weekend

Students and parents will see a change to the financial aid process beginning Saturday.

The Free Application for Federal Student Aid (FAFSA) is the first step in applying for financial aid for college.

Director of Financial Aid at Missouri Western State University Marilyn Baker said the change implemented this year is that FAFSA will be available October 1st instead of January 1st. Baker said that means students can start filing the FAFSA using their 2015 tax return information.

“In past years, it’s always started in January and everyone had to wait until they got their W-2 forms, got their taxes filed and basically they’re using their prior year taxes,” Baker said. “So what’s changed is you’re using two years back now.”

Baker said the Financial Aid industry agreed that it would be easier to change the date, which could help students during their college decision making.

“Students could make their college decision earlier because they may know what the costs are of attending the college and then approximately what their financial aid may be to attend whichever school they plan to go to,” Baker said. “It just allows them to make their choice a little earlier.”

Baker said they are working with high school counselors in the area and letting them know their high school seniors should begin thinking about applying for financial aid as early as Saturday.

“One of the features of the FAFSA is called the IRS Data Retrieval Process,” Baker said. “So you don’t really even have to have your tax return sitting in front of you, you can just click on a button to link to the IRS and they will actually import the 2015 tax information right into the FAFSA for you for both student and parent.”

It will vary by school when information will get back to students after they have filed. Baker said she estimates students could hear back from schools during the first part of November as opposed to March or April in previous years.

For more information, contact Missouri Western’s Financial Aid Office at (816) 271-4361 or any institution the student filling out the FAFSA is interested in attending.