Adults considering going back to school may also fill out the FAFSA4caster. It may be a good idea to update it, for example, as your family’s income changes. You can fill out the FAFSA4caster as often as you like. The form takes about 10 minutes to complete. Follow the LinkĬlick start to use the tool. You will not need to provide information on a family home that is a primary residence. For asset information, you’ll need details on bank accounts and investments including investment property. If you have nontaxable income, you can add this number on top of the adjusted gross income on your tax return for a more accurate result. You’ll also need information on nontaxable income such as veterans benefits that aren’t for education-related purposes. Gather Your Financial Documentsįor income, you’ll need your latest tax return. Follow these steps to ensure the process runs smoothly and quickly for you: 1. The FAFSA4caster is relatively easy to use. After filling in all of the required information, the FAFSA4caster estimates how much aid could be available to you in the form of Pell Grants, the federal work-study program and federal student loans in the next academic year. How the FAFSA4caster Worksįamilies fill in information on assets, income, student demographics and family size. Sophomore or junior years of high school are good years to practice filling out the FAFSA. For instance, you could technically plug in information for your eighth grader, but your income may be different four years later and grant awards may also change. While families can fill in the information at any time, the results will be the most accurate when you use the tool as close to the academic year you want information for as possible. Unlike the actual FAFSA, you won’t be required to create FSA IDs-login information with usernames and passwords-for each person providing information to the FAFSA4caster. The form will require student and parent information. The FAFSA4caster should be filled out as a family. The FAFSA4caster estimates federal student aid but does not report data to either the government or colleges. The FAFSA4caster is a short practice form for the FAFSA, the Department of Education form incoming and continuing college students fill out to determine financial need.
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