If you have a college student or high-school senior, you need to be aware of some big changes to the rules for filing a Free Application for Federal Student Aid (FAFSA). Your 2015 income will have double the impact on college aid packages since President Obama signed an Executive Order on September 14, 2015, effectively changing the method of using prior year income to a new prior-prior year method.

This new method will make it easier for most families to fill out the FAFSA and get the appropriate information to their choice colleges so that financial aid packages can be determined.

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