Common Mistakes to Avoid When Filing Your FAFSA

FAFSA online filing has become progressively easier over the years, adding helpful tools such as an editing feature and auto-filling from your tax return in recent years. However, it still takes about half an hour to complete on average, meaning there are still plenty of opportunities to make a mistake that can prolong the application process and delay your student financial aid.  Or – worse yet – you could make a mistake and miss out on money to help you cover your college tuition. Here are a few things to avoid that will help you streamline this process and receive your aid as quickly and painlessly as possible.

Procrastination

A major misstep is failing to get the application submitted as early as possible. This can help avoid a time or money crunch if a delay does come up. Also remember that even though the updated form can pull some info directly from your tax return, you do not have to wait to fill out the application until after you’ve filed your taxes. The 2016-2017 FAFSA became available January 1, 2016 and, since some of the funds are awarded on a first-come basis, you don’t want to wait to apply until you’re preparing for tax day. In order to submit that early, you can simply use your 2014 return to fill out the application initially if your income is similar to last year and as long as you update the form once you file your 2015 return.

Failing to Plan Ahead

FAFSA introduced a major change this year by requiring applicants to register for a new FSA ID before logging in to their online application. Previously, all you needed was a Federal Student Aid PIN to access the site; however, security concerns have prompted a change to the new username and password format. Unfortunately, keeping the process secure also means that it can take up to three days to activate your FSA ID after registration – so it’s in your best interest to register ASAP. Also remember that dependent students must have a parent sign up for an FSA ID as well. Preparation is key to streamlining the FAFSA application process, so make sure you collect all the info needed to complete your FAFSA before you begin.

Clerical Errors

This sounds basic, but missing little details is a common application error. Simple slip-ups like entering the incorrect name, mixing up parent and student info, leaving sections incomplete and failing to sign the document are all common mistakes that can delay your application. Misreading directions is also a problem for many who fail to report all sources of income, the correct household size or include parent information due to FAFSA’s unique guidelines for dependency.

All of these oversights can prolong your application process unnecessarily, which can impact the amount of financial aid you receive. Trying to save for college is tough enough as it is, so do yourself a favor and maximize your aid potential by avoiding silly errors. By planning ahead and paying attention to detail, you can help eliminate or reduce the burden of college loans that can impact you for years after graduation.