Organization Informs Parents How Income Tax Impacts Student Financial Aid

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SAN JUAN -- With income tax season underway, La Union del Pueblo Entero wants parents to know how income tax returns impact their students’ financial aid opportunities.

“It is important for parents to know how income tax impacts the financial aid process, so that parents make sure their students can access all the financial aid opportunities available to them,” said Maria Ibarra, LUPE’s education specialist. “If you’re thinking about your student’s financial aid for college, you should be thinking about income tax as well.”

If your student is applying for financial aid, here is what you need to know about income tax:

  • If your child is applying for FAFSA or TASFA, we encourage you to file your 2015-2016 Income Tax Year return if you have not done so yet.
  • Students can already file FAFSA and TASFA for their 2017 financial aid package, but they will need the 2015-2016 income tax return to do so.
  • Some parents may need to apply for or renew their Individual Taxpayer Identification Number (ITIN) in order to file income tax, and this could affect their child’s FAFSA application.
  • If you do not qualify for an ITIN number, other options are available.

Parents and students can reach LUPE with their questions related to financial aid by calling 956-787-2233. Parents are invited to visit one of LUPE’s office if they have not yet filed their 2015-2016 income tax return or have questions about applying for or renewing their ITIN.

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