The start of the New Year brings a fresh start, resolutions for changes in our lives, and the time to re-apply for financial aid. Families should complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov as soon as possible. We encourage families to complete the FAFSA using estimated information to ensure the data arrives at GU in time for us to prepare a financial aid package.
An important step in completing the financial aid process is to file your federal income tax return. The Financial Aid Office encourages you to submit your IRS tax return as early in the year as possible to allow us to finalize your student’s financial aid before school starts. We understand that some families file tax extensions, however doing so can jeopardize some of the student’s financial aid.
Many families are required to go back into the FAFSA and update the data using the IRS data transfer. The IRS data transfer will bring over the tax information into the financial aid application. A family can complete the IRS data transfer 2 weeks after filing a tax return electronically and 4-6 weeks after filing a tax return via paper. If you wait to file your taxes until October 15, we will not be able to finalize your child’s financial aid until the end of November at the earliest. Your student may not be able to utilize work study or other types of financial aid until very late in the fall semester. Please work with your tax preparer to submit your tax return by August 1.
If you have any questions about the financial aid process please contact GU’s Financial Aid Office. Our contact information can be found at the following website: http://www.gonzaga.edu/Campus-Resources/Offices-and-Services-A-Z/Student-Financial-Services/Financial-Aid/Contact.asp.