The Free Software for Federal Scholar Support (FAFSA) is utilized by faculty college students in america to use for monetary help. The FAFSA asks for details about the coed’s earnings, belongings, and different monetary info. This info is used to find out the coed’s eligibility for monetary help.
The tax yr used for the FAFSA is the calendar yr that precedes the tutorial yr for which the coed is making use of for help. For instance, the FAFSA for the 2025-2026 educational yr makes use of the tax yr 2023. It is because the FAFSA for the 2025-2026 educational yr opens on October 1, 2023, and the tax yr 2023 is the latest tax yr for which the coed may have filed taxes.