1. FAFSA Prior-Prior Year (PPY): What does it mean?

2. What is PPY?
Starting October 1, 2016, the FAFSA will be available and require 2015 tax information.
Instead of waiting for the parent/student to complete tax returns for the previous year, the FAFSA will now use information from TWO years prior.
***Highly important for HS students who are Juniors now***
PPY Video

3. College Year of Attendance Timeframe to Submit FAFSA
How does PPY work?
College Year of Attendance
FAFSA Year
Timeframe to Submit FAFSA
Tax Year Used on FAFSA
July 1, 2015 to
June 30, 2016
January 1, 2015 to June 30, 2016
2014
July 1, 2016 to
June 30, 2017
January 1, 2016 to June 30, 2017
2015
July 1, 2017 to
June 30, 2018
October 1, 2016 to June 30, 2018
July 1, 2018 to
June 30, 2019
October 1, 2017 to June 30, 2019
2016

4. Prior-Prior Year (PPY)
Pros of PPY
Prior Year (PY)
Prior-Prior Year (PPY)
Available Spring Semester: January 1st
Available Fall Semester: October 1st
Only allows tax info for prior year
Allows tax info from two years prior
File FAFSA & must make corrections to data once taxes are officially filed
Taxes already filed & can likely use IRS Data Retrieval Tool
Incorrectly aligned with college application calendar
Better aligned with college application calendar
Difficult to meet priority filing deadlines, which must be met to qualify for some forms of financial aid
Removes conflicts with priority filing deadlines, which must be met to qualify for some forms of financial aid
Financial aid info available nearing college decision deadline dates
Financial aid info available further in advance of college decision deadlines
Forced more stressful, less-informed college and financial aid decisions
Allows for more at-ease, informed college and financial aid decisions

5. Challenges of PPY
If the PPY tax information no longer reflects a student or parent’s financial situations, a Professional Judgment may be allowed by the school.
Verification information might be significantly different.
Federal Grant amounts will not be available this early.
MN Grant amounts will not be available this early.

6. How is MN Association of Financial Aid Administrators (MAFAA) involved?
As financial aid professionals we are here to answer any and all questions that may come up about this new FAFSA process.
Coordinating with the MAFAA Outreach Committee, and its partner MN College Goal, will give you access to financial aid professionals throughout the state of MN to help with this transition.

7. Please contact us
Website:
Facebook:
Twitter Handle: mafaaMN

8. Thank you!