College aid filing begins in October

Period begins three months earlier

College students and high school seniors can begin submitting the Free Application for Federal Student Aid, or FAFSA, on Oct. 1 — three months earlier than in previous years.

With the application period starting in October, families also will use federal income tax information they have completed for 2015, instead of having to wait for information to file early next year for 2016 federal income taxes.

“That’s going to take a huge burden off,” said Cindy Caudle, a counselor at Rogers High School. “They’re using their 2015 taxes. That information is already done and already filed for a majority of students.”

The federal application is important to determine what federal money will be available to students, whether they attend a twoyear or four-year college, such as Northwest Arkansas Community College or the University of Arkansas, or a technical school, such as Northwest Technical Institute, Caudle said.

Completing the form as soon as possible after Oct. 1 is recommended by the U.S.

Department of Education because financial aid is limited, and students completing the form early will get the first shot at grants, scholarships and loans, according to information from the department.

The department states the form typically takes about 30 minutes to complete.

The state’s YOUniversal scholarship management system also will open for applications on Oct. 1 to coincide with the filing period for federal aid, said Harold Criswell, senior associate director for the Arkansas Department of Higher Education.

Students applying for the Arkansas Academic Challenge Scholarship must complete both the online state aid application and the federal application, even though the scholarship program does not have a maximum income for eligibility, according to information from the Arkansas Department of Higher Education.

Greg Shepard and his wife, Kim Shepard, who teaches at Heritage High School in Rogers, are going to experience filing the application for the first time this year with their daughter Bailey, a senior at Rogers High School.

The family has taken tours of about 10 schools, mostly private colleges, Shepard said. They are weighing schools for the programs offered, the cities where the schools are and the culture of the schools.

Greg Shepard thinks having access to the application sooner will help families and make the college application process more efficient, he said. Universities will be able to let students know earlier about their financial packages, he said.

Shepard will be ready Oct. 1 to complete the federal form, he said.

“I can’t move forward until that date gets here,” he said.

The use of 2015 income taxes will make the biggest difference for students, said Wendy Stouffer, executive director of financial aid and scholarships at the University of Arkansas.

At the university, a student’s financial need is determined by comparing the university’s cost of attendance with a family’s expected financial contribution, a contribution determined with completion of the federal financial aid form, Stouffer said.

Filing early is important for students to be considered for the limited amount of federal money the university receives for campus-based financial aid programs, Stouffer said.

The university annually receives a $1.02 million in federal money for work study programs to distribute among students. Another allocation of $937,253 provides about $1,000 to 937 students in Federal Supplemental Education Opportunity grants.

The university’s priority deadline to be considered for federal campus-based aid is Jan. 15, Stouffer said.

Students considering multiple institutions should be aware some colleges and universities will send out awards packages as early as November, she said.

Some federal aid programs are first-come, firstserved, said Lesli Zeagler, a college and career counselor at Fayetteville High School.

“How many people do you know who have all their income tax information for the previous year compiled on Jan. 1?” Zeagler said.

The former Jan. 1 opening day for the federal aid form used to create stress, particularly for families who qualify for federal money, Zeagler said. They would need to file their income taxes as quickly as possible to file the federal form.

Those who had to wait until February or March to file the federal aid form risked missing out on some pots of money, Zeagler said.

All federal money for college is awarded based on need, but some scholarships awarded based on academic merit also require the form, Zeagler said. It’s a requirement for students applying for the Arkansas Academic Challenge Scholarship.

“Everybody needs to fill it out,” she said.