Special Bulletin: IRS Data Retieval Tool for FAFSA Not Working

Hopefully you filed your 2017-18 FAFSA many weeks or months ago. If you haven’t filed it yet, you’re going to hit a snag just as we reach many college and state deadlines for getting priority to receive various forms of financial aid.

The IRS has announced that it, “. . . decided to temporarily suspend the Data Retrieval Tool (DRT) as a precautionary step following concerns that information from the tool could potentially be misused by identity thieves.”

The DRT is the mechanism through which most students ensure that key fields on their Free Applications for Student Financial Aid (FAFSAs) are accurately populated with data. FAFSA information is used by the U.S. Department of Education (ED) and colleges to determine how much need-based financial aid students may receive for IMG_56692017-18.

While the DRT has worked well in past years, nobody knows when it will begin operating again for 2017-18 FAFSAs. Some colleges and states are changing their FAFSA priority deadlines because of this failure. In Texas, for example, the state is allowing colleges to suspend its March 15 deadline. So check with the school(s) your student may attend during the upcoming academic year.

If necessary, get a copy of your 2015 federal tax returns out of your records and manually enter data required by the FAFSA. Do this as soon as you can because, if you miss the school or state’s FAFSA priority deadline, your student will go to the end of the line for certain grants, scholarships, loans, or work-study awards.

College Affordability Solutions will publish another special bulletin when the DRT is back up and running.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s