The 2017-2018 FAFSA is supposed to be based on 2015's income and tax information, but they may require 2016's income and tax information for verification for the 2017-2018 school year. I initially thought that this change would benefit me (my income is going to double in 2016, so I was excited to have my FAFSA still based on 2015). However, if they use 2016's income for verification, then I will be pretty screwed. I am already taking out lots of loans to support myself, and the financial aid I receive is very helpful. However, if I begin working more and I get reduced aid... then what is the point in working extra hours? It looks like my EFC will jump to 5000, compared to about 1000 for this year. I am an independent student with no dependents, no parents, etc., so I have to pay for my own health insurance, food, living costs, etc.
Does anyone know anything more about what will happen in 2017-2018? If I can work more hours and have everything based off my 2015 tax return, then I will. Otherwise, it is not worth working more and sacrificing my grades. Survival is hard enough as it is :/
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