What Are Common FAFSA Problems and How to Avoid Them?

I'm planning on tackling my FAFSA application soon, and I've heard that there can be a lot of hiccups and issues. What are some of the common problems students face when filling out the FAFSA? I'd love to know about any specific challenges or errors to watch out for, and how to best avoid or fix them. If you have any tips for navigating the process smoothly, that would be great!

Filling out the FAFSA can indeed be daunting and confusing, but being aware of the common issues might just make it easier for you. Here are a few common problems students often face along with ways to steer clear of them:

1. Missing Deadlines: This may seem obvious, but many students miss the deadline. You'll want to submit your FAFSA as soon as it opens on October 1st of each year. Aid is often awarded on a first-come-first-serve basis. States and institutions also have their own deadlines, which may be sooner than the federal one. So, mark your calendar, set reminders, do whatever it takes not to miss it.

2. FAFSA FSA ID issues: Students and parents often forget their FSA ID information, which is used to electronically sign the FAFSA. Always have your FSA ID info saved in a secure and accessible location. Without it, the FAFSA can't be submitted.

3. Decoding the EFC/SAI: Starting from 2024, the term EFC (Expected Family Contribution) was replaced by SAI (Student Aid Index). Many families misinterpret this number thinking that's exactly what they will have to pay, but what this index does is give colleges an idea of your financial status. A lower SAI usually means you'll qualify for more financial aid.

4. Entering the correct tax information: Use the IRS Data Retrieval Tool (DRT) which imports your tax info directly into the FAFSA, reducing the chance of errors. With the DRT, you’re less likely to be selected for verification.

5. Incorrectly reporting assets: Be careful about declaring assets. Do not include assets like the home you live in or your retirement plans. For accuracy and to prevent being selected for verification, carefully review the FAFSA definitions when prompted to enter this information.

6. Not including every school: Make sure you've listed all schools you're applying to. The Department of Education will automatically send your FAFSA to these schools. If you leave a school out, they won't receive your financial information.

7. Incomplete application: An incomplete FAFSA can cause delays in processing, which can mean missing out on aid. So double-check that you've answered all the necessary questions and fields.

By being aware of these issues beforehand, you'll be in a far better position to handle and navigate through FAFSA more smoothly. Good luck!