Common FAFSA Mistakes
Common FAFSA Mistakes
For many people, FAFSA can be the most stressful part of the financial aid process. On this page is information that will add to your preparation in completing the FAFSA and will help make the process as seamless as possible. The FAFSA can be submitted at fafsa.ed.gov.
Not Submitting A FAFSA At All
Not completing a FAFSA at all could be the biggest mistake of all. When the student does not submit a FAFSA, they are denying themselves the opportunity to ease the financial burden of paying for their college education out-of-pocket or with some other loan or resource. Many people believe that you only submit a FAFSA if you want to borrow loans to pay for school when in fact the FAFSA is used for evaluation of all types of aid eligibility--grants, Federal Work-Study, loans, and even some scholarships. Submitting a FAFSA does not automatically sign the student's name on the dotted line for a loan. It is up to the student to accept the aid they would like to receive and deny that which they do not wish to receive.
Not Submitting the FAFSA by the Priority Deadline
If a student does not submit a FAFSA by the priority deadline for the school or for the particular type of aid they are seeking, then that student will simply miss out on receiving the additional aid funding. For WVU the priority deadline is March 1 . This deadline means if a student is interested in certain grants or an aid program like Federal Work-Study and they do not submit their FAFSA by that date, they will not be offered that award in their financial aid offer. In short, submitting the FAFSA by the priority deadline could possibly mean more aid for your student!
Not Utilizing the IRS Data Retrieval Tool
Over the past few year FAFSA has partnered with the IRS to create a tool available on the FAFSA that allows the student to pull in the correct tax data from the IRS for the relevant tax year. This tool makes this particularly tricky part of the FAFSA simple, fast, and accurate. For those who are eligible to use it, this tool can save a significant amount of hassle and will give the schools the most accurate information available. There are however a few scenarios in which some are not eligible to utilize the Data Retrieval Tool. FAFSA has created a list of frequently asked questions that outlines those who are eligible and those who are not.
Not Signing the FAFSA Before Submitting
If a student or parent does not sign the FAFSA prior to submitting it, the school(s) listed on the FAFSA will still receive it, but they will be unable to process it in any way due to it not being electronically signed. If that is the case, the school(s) will contact the student about their FAFSA needing a correction that will need to be made by accessing the FAFSA again at fafsa.ed.gov. Once the FAFSA has been electronically signed and submitted successfully, the school will continue to the next step in the financial aid process.
Only Listing One School
On the FAFSA, a student can list up to ten (10) schools where they would like to send their FAFSA. This is done so each school listed would then prepare a financial aid offer. After the student receives their offers, they can compare the schools by the additional criteria of affordablity. That comparsion is of the utmost importance. It allows the student to not only have a grasp of the cost of the schools they are interested in, but also evaluate those expenses on a four-year timeline. If the student is only listing one school, they are denying themselves the opportunity to have this cost versus financial aid comparison at all of the institutions they are interested in.
Inputting Incorrect Information
Incorrect information on the FAFSA happens very frequently and it can cause that FAFSA to be selected for a process called verification which must be administered by each school and will delay the offer of financial aid until that process is completed. The most common instances of incorrect information on the FAFSA are:
- Putting the parent information in for the student and/or putting student information in for the parent
- Assuming that the Adjusted Gross Income (AGI) is the same as earned income
- Not including parent or step-parent information
- Incorrect Social Security Number(s) or legal name
- Incorrect parental marital status (as compared to the tax year information)
- Number of individuals in the household
Since there are so many variations of incorrect information that can be included on the FAFSA, it is important to read carefully and review the information prior to submitting the FAFSA. If there is any confusion along the way, there are a few different ways to find answers to any questions that may arise.
Not Requesting an FSA ID Before Starting FAFSA
Prior to starting a FAFSA, the student and parent should have requested and been given their own FSA ID credentials. If the student has not completed that step, they will be unable to begin or sign and submit a FAFSA. It is important to remember that the student and the parent should have their own FSA IDs and the two cannot be interchanged. The FSA ID is a unique identifier to the individual it is assigned to and should be utilized only by that individual. If the student or parent has not already requested an FSA ID in the past, they can do so at fsaid.ed.gov.
Being Unclear on the Questions
As the student is going through the FAFSA questions and information, they may come upon a question that is confusing or unclear. In this scenario, the FAFSA has a variety of platforms to find the answer to your question(s).
- On the right side of the screen, you will find the "Help and Hints" section
- Towards the bottom of the page, in the same area as the "SAVE" button, there is a "NEED HELP?" button for additional assistance
- You can open the FAFSA Help page in another tab of your browser and continue to refer to it as needed
If you still have questions or maybe your question was not fully addressed, you can also contact the Federal Student Aid Information Center at 1-800-433-3243.
Other Resources
- 11 Common FAFSA Mistakes by ED.gov
- 10 FAFSA Mistakes the Affect Financial Aid by Fastweb
- FAFSA Tips and Common Mistakes to Avoid by the National Association of Student Financial Aid Administrators
- The 7 Most Costly FAFSA Mistakes by Sallie Mae
- 10 Common FAFSA Mistakes and How to Avoid Them by College Financing Group
- Avoid These Common FAFSA Mistakes by Road 2 College