Avoiding Common Mistakes on the FAFSA
Other than your college applications, the Free Application for Federal Student Aid (FAFSA) will be one of the most important forms you fill out during the next few weeks. It will take time on your part to make sure your form is correctly done but can be well-worth the investment.
The number one rule for completing any US government form is that you never leave an empty field. This will cause errors during processing and may cause your FAFSA to be rejected. If the form says you can leave an answer or a field blank, then it is okay. But if not, you can use a 0 (zero) for answers requiring numbers, and N/A (not applicable) for others.
Here are additional suggestions from CollegeData.com that can help you avoid some common mistakes that can be made on the FAFSA.
Before you begin to fill in your answers, read the instructions and the entire form. This will help you plan for enough time to completely answer all questions. This also allows you to get an idea of what you will need and how long it is going to take you to pull it all together.
Never guess on the information you provide. A good plan is to use a practice worksheet before you start to fill out the actual FAFSA form. It is helpful to have all your information and documents organized before you begin so that you can refer to them as you go.
Never wait until the last minute. File the FAFSA as soon as possible. Also, receiving financial aid may depend on getting your forms in well before the state and college deadlines. These dates may be different for every school/state so make sure you know and have doubled checked on each.
Use the correct source for tax information. The FAFSA will ask for your Adjusted Gross Income (AGI) and income tax paid. You should use the figures from your tax return, not your W2’s.
Know what to include as assets. For example, the value of retirement accounts, home equity, college accounts not in a parent’s or child’s name are not included, nor are the assets of a business with less than 100 employees. Only include these once. (Some people mistakenly include the same assets in both the parent and student sections of the FAFSA.)
Make changes and provide updates when needed. If you estimate your taxes or other information, you should provide the correct data to the government as soon as you can.
Double (and triple) checking your personal information is always a good idea. Have someone check your information as you slowly read it off from the FAFSA. Make sure you use your full legal name as listed on your Social Security card, and use your permanent address, not one for another residence or school. Check your birth date and driver’s licenses number for accuracy. Because you know them so well, it is easy to overlook a small mistake.
Always use an email address that you regularly check. If there are questions during the processing of your application, timely answers will be needed so it can be reviewed as quickly as possible. If additional information is needed, you will be contacted via the email address you have provided on the FAFSA so make sure it is one that you frequently use.
