Information you need to know for filing Financial Aid
We are only are one week away from Tax Day, so you will want to make sure that you have your taxes filed soon, to be ready for financial aid season. If you choose to file for an extension and do not get your taxes completed until later in the year you may run in to some issues when filing your student’s financial aid forms. Most of the time if tax filing is delayed that will mean there will be a lot of manual entering of data since your tax return will not be available for the data retrieval tool.
It is recommended that students file their taxes even if they did not make enough that they are required to file a tax return. Many schools have been asking for what is called a Verification of Non-Filing Letter if a student does not file a tax return and in some cases, it can be a difficult process. Also, it is simply good practice to file yours and your student’s tax return even if there is no tax due or refund to help avoid identity theft.
Make sure you have a copy of your tax return(s) in a safe place and available for reference when filing your financial aid forms in October. We will be posting a reminder later explaining all the information you need to gather to complete the financial aid forms and when to set your appointment to come in for that fun task.