Prior Year FAFSA

Financial Aid Notice: Prior-Prior Year (PPY) / Early FAFSA

Background

federal government decision will require students and families completing a FAFSA to use tax information from two years prior to the academic year, as opposed to one year prior. This shift, commonly referred to as Prior-Prior Year (PPY) or Early FAFSA.  

Why is this a positive change?

Using tax information from two years prior to the academic year ensures that most families will have filed taxes before applying for financial aid. Families will be able to use actual tax information, rather than estimated, when completing the FAFSA. Families have the ability to use the IRS Data Retrieval Tool (DRT) when completing the FAFSA, which allows for automatic transfer of tax information to a student’s FAFSA. If you need help using the DRT, here is a helpful video tutorial that clearly explains the process.

What Temple University students can expect

Beginning with the 2017-2018 academic year, students wishing to apply for financial aid at Temple University:

  • May submit a FAFSA earlier. Students will be able to file a 2017-2018 FAFSA as early as Oct. 1, 2016. Completion of the FAFSA will also be simplified for families who use the IRS Data Retrieval Tool (DRT). AND
  • Are required to use earlier tax information. When completing a 2017-2018 FAFSA, students will report tax information from the 2015 tax year.
  • Current students should update the 2016-17 FAFSA information now with final 2015 income data. In order to avoid any discrepancies between the 2016-17 and 2017-18 academic years, we strongly encourage the use of the IRS Data Retrieval Tool (DRT) to update this information. If you use the IRS DRT and do not change any of the retrieved information on your FAFSA, then you likely won't need to provide tax transcripts to the financial aid office if you're selected for federal verification.
  • Conflicting income will result in 2016-17 FAFSA applications be selected for a verification review. Per new federal guidelines, the financial aid office must resolve income issues related to differences in the 2015 income information reported on the 2016-17 FAFSA and 2017-18 FAFSA applications. Students that are flagged for review are ineligible for federal funding, including federal work study, until the issue is resolved. Current students will be contacted by email with instructions regarding the conflict.  
  • Priority deadline for the 2017-18 academic year will remain March 1st. The Office of Student Financial Services will begin awarding financial aid for new students in mid-Februrary and returning students in late April.

If you plan to apply for financial aid for…

You will use tax information from…

You may submit the FAFSA as early as…

Temple University’s priority timeframe for FAFSA submission is…

Temple University will begin providing estimated financial aid awards on or after…

2016-2017 Academic year

2015

1/1/2016

3/1/2016

First-year students: mid-February 2016

 

Returning students: April 2016

2017-2018

Academic year

2015

10/1/2016

3/1/2017

First-year students: mid-February 2017

 

Returning students: April 2017

2018-2019 Academic year

2016

10/1/2017

This information will be updated in Spring 2017.

This information will be updated in Spring 2017.

 

Early FAFSA Frequently Asked Questions (FAQs):

  1. How will the early FAFSA changes benefit me? The 2017-18 FAFSA is easier than ever before and available earlier (as of October 1, 2016). You will not need to update your 2017-18 FAFSA with 2016 tax information when you file; you just file once with your 2015 income. You might find that the FAFSA process is easier than you expected. From now on, the FAFSA will ask for prior prior year FAFSA (older income) and tax information that you will already have. This will eliminate the need to use estimates or log in at a later time to update the FAFSA after you file taxes. Since you will already have completed your 2015 taxes by the time you fill out the 2017-18 FAFSA, you may be able to use the IRS Data Retrieval Tool (DRT).  If you use the IRS DRT and do not change any of the retrieved information in your FAFSA, then you likely won't need to provide tax transcripts to the financial aid office if you're selected for federal verification.
  2. Will Temple University change the financial aid priority filing deadline for the 2017-18 aid year? No, the financial aid priority deadline will remain March 1st for the 2017-18 aid year. 
  3. Can I fill out the FAFSA prior to applying to attend Temple University? Yes, you can file the FAFSA prior to submitting the admission application to Temple University. Use the Temple University FAFSA federal school code 003371-00. In addition, add every school you’re considering to the FAFSA, even if you haven’t applied or been accepted. It will ensure your financial aid is processed if you end up applying for admission at the school. You can always remove schools later if you decide not to apply. 
  4. Can I receive a financial aid award prior to being admitted to Temple University? Financial aid awards are processed for newly accepted fall 2017 undergraduate and non-professional graduate students beginning in mid-February. Once accepted to Temple University, be sure to review the Financial Aid section of your TUportal account in case the financial aid office has requested additional documentation that can delay your financial aid award. Financial aid awards are estimated assuming full time enrollment (Undergraduates 12-18 credits and Graduate students 9+ credits). Students selected for federal verification may see changes to their initial award upon completion of the verification process. The initial PA state grant may be estimated on the financial aid award due to the timing of approval from the PA state legislature.
  5. Since the 2017-18 FAFSA asks for the same tax and income information as the 2016-17 FAFSA, will both my 2016-17 financial aid award letter and 2017-18 financial aid award letter be the same?  No, the 2017-18 FAFSA filers will not use the 2015 data for all questions. FAFSA filers should review the 2017-18 FAFSA filing guide provided by National Association for Student Financial Aid Administrators (NASFAA) for information pertaining to the data families are required to report on the 2017-18 FAFSA. Financial aid awards typically vary from year to year (funding levels may change) and there is no way to predict what might be different, therefore the annual FAFSA is required because some of the information could change from 2016-17 to 2017-18 (for example, the number of family members in your household, your degree intentions, etc...).
  6. Can I choose to report 2016 information if my family's financial situation has changed since 2015 taxes were filed? No, families must report the information the FAFSA requires. If the family’s income has changed substantially since the 2015 tax year, please review the Office of Student Financial Services’ income reduction policy for more information. 
  7. I've submitted the FAFSA, now what? When your FAFSA is processed by the Department of Education, you will receive your Student Aid Report (SAR) by e-mail. Your Student Aid Report will also be sent to any schools listed on your FAFSA. Take a moment to review your Student Aid Report for accuracy and additional information requests. Some FAFSA applications are selected for a follow up process called verification. If your FAFSA is selected for verification, we will need additional information or documentation from you. The required documentation requirements will be located in the Financial Aid section of your TUportal account.
  8. What resources are available to help me learn more about early FAFSA? The StudentAid.gov is a great site for students and parents. It provides detailed information about the FAFSA, the FSAID, the IRS Data Retrieval Tool, student dependency status, reporting parent information, and what happens after the FAFSA is submitted. Please visit StudentAid.gov/fafsa and the College Board site, https://lp.collegeboard.org/prior-prior-year, for more early FAFSA information.