How to Update Your FAFSA After Filing Taxes

Did you submit your 2016–17 FAFSA^® before you (and your parents, if you’re a dependent student) filed your 2015 taxes? If so, it’s time to return to your application to update the information you estimated with the actual numbers from your 2015 tax return.

The easiest way to update your tax information is by using the IRS Data Retrieval Tool (IRS DRT). It allows you to transfer your tax information directly into your FAFSA! Check to see if your tax return is available and if you’re eligible to use the tool. You usually have to wait a few weeks after filing your taxes before you can use the IRS DRT, but this tool can save you lots of time.

To update your FAFSA:

Step 1

Go to fafsa.gov and click Login.

Step 2

Students: Log in to the FAFSA using your FSA ID.
Parents:  Your child must initiate the FAFSA correction process by logging in first, continuing to Step #3, and creating a Save Key*. If you need to make corrections to your child’s FAFSA, get the Save Key from your child. Once you do, you can log in by entering the student’s information. The FAFSA will ask you to enter the “Save Key” if you wish to continue.

^*A Save Key is a temporary password meant to be shared between you and your child. It lets you and your child pass the FAFSA back and forth and allows you to save the FAFSA and return to it later. This is especially helpful if you and your child are completing the FAFSA, but are not in the same place.

Step 3

Click Make FAFSA Corrections.

Step 4

Navigate to the “Financial Information” section.

Step 5

Change your answer from “Will file” to Already completed.

If you’re eligible to use the IRS DRT, you’ll see a Link to IRS button. If you’re not eligible to use the IRS DRT, you can manually enter the data from your completed tax return.

Step 6

Click Link to IRS and log in with the IRS to retrieve your tax information.

• Enter the requested information exactly as it appears on your tax return.

 

• Review your information to see what tax data will be transferred into your FAFSA.
• Check Transfer My Tax Information into the FAFSA, and click Transfer Now to return to the FAFSA.

 

Step 7

Review the data that was transferred to your FAFSA, and click Next.

Step 8

Sign and submit your updated FAFSA using your FSA ID.

Once you’ve made updates at fafsa.gov, your changes will be processed in about three days. You’ll receive a revised Student Aid Report (SAR) showing the changes made to your application. Each school you listed on your FAFSA can access the revised information one day after it’s processed.

Remember, some state and school financial aid is awarded on a first-come, first-served basis. So, log in today to update your FAFSA!

April Jordan is a senior communications specialist at Federal Student Aid

The post How to Update Your FAFSA After Filing Taxes appeared first on ED.gov Blog.