Try the following, in order, until resolved:
  1. In Configuration, click Business Rules and highlight Student.
  2. Select either the next year's student progression entry or no student progression entry from the field labeled When displaying and updating advisor, homeroom teacher, and homeroom, and the current date is not within an academic year, display and update.... 
  3. Verify that the correct start/end dates appear for academic years in Configuration, Academic Years.  If not, open the year by double clicking on it, then edit the date(s) and save/close the academic year.
For example: If the above business rule has next year's student progression entry selected and the system date (current date) falls in between the end date of the previous academic year and the start date of the next academic year, then the information displayed on the Bio 1 tab of student records will be from the student progression entry for the next academic year.