The Free Application for Federal Student Aid (FAFSA) for the 2022-23 academic year became available on 1 October 2021. Now is the time to take advantage of completing your student(s) application for priority consideration by the academic institution your student(s) are attending.
Here are the FAFSA priority deadlines for Iowa’s public universities and Kirkwood Community College
- Iowa State University: January 3, 2022
- Kirkwood Community College: March 15, 2022 but encourages as soon as possible after 1 October
- University of Iowa: December 1, 2021
- University of Northern Iowa: January 15, 2022
Your family’s financial situation may have changed since the last time you filed a FAFSA application and/or the constant revisions to federal tax forms now make it more difficult to find the information you need to complete the FAFSA application.
Feel free to contact us for assistance. We can also help in strategizing your 529 plan contributions and distributions.
We highly recommend that during the FAFSA application process to use the IRS Data Retrieval Tool to automatically upload required tax return information and to help eliminate errors.
Here is the information typically required for completing the FAFSA application, for both the student and parents:
- Social Security Number
- Filing status
- Federal income tax return and form filed (i.e. 1040, 1040SR)
- Earned and Unearned Income on a married filing joint return you’ll need the information separated by each parent)
- W-2s and other sources of earned income
- Unearned income records such as retirement income, alimony
- Your Adjusted Gross Income
- Investment income
- Untaxed income such as tax-exempt interest
- Amounts in checking and savings accounts
The FAFSA application is used to determine and eligibility for federal grants, work-study, and loans but most colleges and universities use the Expected Family Contribution (EFC) in determining financial aid awards, grants and scholarships, from their own resources. Some of these resources funded by the state, are granted by private donors, or could be from the college direct.