It’s tax time! For many families this can be a stressful time of the year and the urge to wait until April 15th to file is great. However, if you have a child in college or a child that will be entering college this fall, please resist that urge! It is critical that college students and soon to be college students complete their FAFSA (Federal Application for Student Aid) early. This means that parents must bite the bullet and get their taxes completed as soon as possible.
Submitting a FAFSA early will give your child the best chance to get the maximum amount of financial aid possible. The longer a student waits, the higher the chances that they will not receive the entire amount of aide that they are eligible for. It is good practice to remember that the distributions of federal and state grants are not guaranteed; it is a first come first served process. Even if a family is not eligible for grants, it is advised that ALL students complete the FAFSA because many scholarships require it and the government requires it for student loans. So, let’s get moving this tax season. Help your student by giving them the best chance to receive as much financial aid as they qualify for.
If you need help taking the stress out of filing your taxes, the United Way is offering the service of trained tax preparers for people that make less than $50,000. For more information and to find a convenient location near you: visit UnitedWayDallas.org/EKS, text REFUND to 27138 or call 214-978-0081.
Education is Freedom, Dallas, TX 75204