2023-24 FAFSA: Do I need this IRS tool to get student aid?

2023-24 FAFSA: Do I need this IRS tool to get student aid?

This year’s Free Application for Federal Student Aid, which determines how much financial aid U.S. college students get, opened Oct. 1.

People filling out this year’s new FAFSA form and hoping to go to school in 2023-24 will need their 2021 income tax information.

The easiest way to pull up that information is to use the IRS’ online tool, which scans past tax filings and automatically imports information into the FAFSA.

Here’s what studentaid.gov says about the tool:

  • It’s the easiest way to provide your tax return information.
  • It’s the best way of ensuring that your FAFSA form has accurate tax information.
  • You won’t need to provide a copy of your or your parents’ tax returns to your college.

Like anything involving the IRS, it isn’t without its own caveats or headaches. Some people, — students who are married but filing separately, people with no income tax filing history, or people who need to edit their information — might have trouble using the tool effectively.

How to use IRS DRT

If you’re eligible, while you work through the FAFSA form, select “Proceed to IRS” to transfer your tax return information from the IRS website into your FAFSA form.

Is it safe?

Yes. Your information remains secure. Of course, at all points in the FAFSA and college application process, you should take steps to protect your personal information and passwords, and be wary of any attempts to ask for your information by email, phone or text messages.

How to start the FAFSA

You can get a paper form, but the easiest way to fill out the form, after getting an FSA ID, is to start at studentaid.gov. Good luck!