1. Prior Prior Year and the 2017-18 FAFSA
Angela Karlin
Director of Student Financial Assistance
November 7, 2016

2. What is PPY?
Prior Prior Year is the concept/practice of using tax data from two years ago to fill out the FAFSA.
2015 tax forms will be used for the FAFSA form
Research conducted over many years and found that most people would not have significant changes in income using this new model.

3. Two parts to PPY
Besides using the PPY data, the FAFSA can now be filled out starting October 1.
This is because families won’t need to wait to file taxes since they are using older data.
Move to give students financial aid information within the same time frame as they are applying to colleges and universities.
Executive Order, not law so this may not be permanent.

4. What we know for sure….
Students can start using their 2015 tax data to fill out their FAFSA on October 1, 2016.
Other than that
????

5. What we are hearing
I need to add 2015 and 2016 income together to do my FAFSA.
I still need to update with 2016 data in April
My 2015 tax info is very different than it would be today, should I update my info to reflect that?
Aid offices can taken into account any decrease in income due to unplanned events such as job loss, divorce, etc.

6. Financial Aid Awarding
Gearing up to roll out awards earlier than ever
October is the new January
December will be the new March for many schools
Concern about tuition/fees not being official
Students may get estimated, then final awards
Could be different due to cost of attendance
Students not admitted due to timing
Push by Admissions to complete applications
Retraining reps on timing

7. Financial Aid Focus Questions that must be answered
State of Missouri deadlines
February 1 for full funding
February 2-April 1 partial?
What is your priority deadline?
Varies school by school
What about merit aid?
Advice to students
File FAFSA and apply early!

8. High School Counselors Focus
Early adopters/late to the party
Financial Aid Nights/FAFSA completion events
Questions and Training needs
FA community is here to help
We all are learning and this will definitely be a year of transition!
Partner with your neighboring higher education institutions/MASFAP

9. Student Focus
What can we do as a community to help transition our families to the new normal?
All about access to higher education and eliminating barriers
Positives!!
Taxes will be completed so many can use DRT and will not have to estimate and amend their FAFSA.
Early time to plan for out-of-pocket expenses (8-9 months ahead of August entry).
More time to have discussions with schools about cost
Negatives
New process and we don’t have all the answers

10. Questions What are you hearing in your community? FAFSA Frenzy events?
What can financial aid community do to help HS partners?

11. Contact Information
Angela Karlin Director of Student Financial Assistance 2016 MASFAP President