As higher education institutions are now well aware, as of October 2016, families will be able to file the Free Application for Federal Student Aid (FAFSA) college aid form for financial aid eligibility using prior-prior year income.

As this Forbes article explains, “This new method is referred to as prior-prior, because students’ college financial aid eligibility will now be based off of income from two years prior to when a student enrolls in college, not one year prior the way the rule has been until today.”

Questions abound, though. At the recent