Intuit, Inc., makers of Quicken® and TurboTax®, have partnered with Marshall University in West Virginia to offer an easy new option for families who need to complete the FAFSA. The new online service, TurboTax FAFSA, automatically transfers information from TurboTax software directly onto the FAFSA form.
The idea of TurboTax FAFSA arose from a conversation last fall between Marshall President Stephen J. Kopp and Brad Smith, CEO and president of Intuit, who is a Marshall alum. 'I explained to Brad the problem parents and students are having filling out the FAFSA and the barriers they face,' Kopp said. 'I asked him if his company could conceivably create an interface that would be ‘family-friendly' with regard to simplifying the filling out of the FAFSA form. Such a product seemed like a logical extension of his business and one that would benefit current and future generations of college-bound students.' Smith responded positively and the result has been an ongoing collaboration between Marshall and Intuit.
Currently, the product is in early release and is only available to West Virginia residents. But the hope is that it will catch on and be expanded to other states. Kathy Bialk, Director of Student Financial Assistance at Marshall University, said 'We're really onto something here...this is the piece that's been missing.'
With TurboTax FAFSA, up to half of the information a student needs to complete the FAFSA form is automatically transferred right to their FAFSA. Families complete the rest through an interactive, one-question-at-a-time user interface similar to the one TurboTax uses for its tax filing software, which automatically skips and branches to the next applicable set of questions where appropriate. At the end of the process, the system creates a PDF file of the FAFSA, which students then sign and mail in. 'There are still a few remaining issues to be ironed out, but I think we're only one step away from having something that is really helpful,' said Bialk. She said that as of yet, Intuit hasn't been successful in making arrangements with the Department of Education to accept the data electronically, as does the IRS, and this is the ultimate goal.
'This product is good for everybody concerned,' Kopp said. 'Marshall University and the State of West Virginia are taking the lead with a major corporation to facilitate access to federal financial aid, while at the same time helping aspiring West Virginia students achieve the dream of pursuing a college education.'
Intuit and Marshall will be demonstrating TurboTax FAFSA on April 2 at WVASFAA's 2009 Spring Conference, held at Canaan Valley Resort & Conference Center in Davis, WV.
Intuit is not the only tax preparation firm exploring FAFSA filing. Professors at Harvard, Case Western and The University of Toronto are conducting The FAFSA H&R Block Experiment. In this study, H&R Block tax professionals are working face-to-face with a group of eligible low- to moderate-income families to complete the FAFSA. Then, families are immediately given an estimate of their eligibility for federal and state financial aid as well as information about local postsecondary options. The U.S. Department of Education agreed to a pilot arrangement allowing electronic transmission of FAFSA information directly from H&R Block. The research goal is to measure the impact of simplification and information on outcomes, and towards that end project data will be linked with college administrative files to determine which individuals elected to enroll and persist in higher education.
West Virginia residents who want to use TurboTax to file their taxes and TurboTaxFAFSA can do so at https://fafsa.intuit.com/marshall. FAFSA filing is always free; simple tax returns can be completed for free using TurboTax Online Free Edition, and more complex returns can be completed using one of the fee-based TurboTax versions. If using the fee-based product, customers can get 10 percent off any 2008 online federal/state product by using this link.
For more information on TurboTax FAFSA, contact Dr. Jan Fox, Senior Vice President for Information Technology/CIO at Marshall University, at 304-696-6706, or Kathy Bialk, Director of Student Financial Assistance at Marshall University, at 304-696-2280 or visit https://fafsa.intuit.com.
Posted 03/31/09 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web site questions or comments to Web@NASFAA.org.
