You can complete your FSA ID at ANY time. You don't have to wait to do this.
The student and one parent should complete the FSA ID.
When can I apply for FAFSA?
The "School Year" is from July 1 through June 30.
Semesters usually start in August, January, and May.
Apply for FAFSA beginning October 1 - the YEAR before you want to attend school.
Which tax returns are used to verify income?
Tax returns from the PREVIOUS year are used. If your income situation has changed since the taxes were filed, submit the FAFSA application using the information on the tax returns, then call the financial aid office at the school you want to attend and start the process to have the school consider the new income situation.