Filling out the Free Application for Federal Student Aid (FAFSA) is an important first step for paying for college. But if you make a mistake on the form when you apply for FAFSA, you can miss out on grants or loans. Luckily, you can make corrections if you catch them early.
Here’s a FAFSA FAQ to help you fix any mistakes you made when applying for your FAFSA.
1. Forgetting to list a school
It’s a good idea to include any schools you are considering attending. A pricey school may offer you a great deal on the cost of attendance, through scholarships, grants, or programs for low-income students.
When you complete the FAFSA, you can select up to 10 schools on your application if you file online, or only four if you complete the paper version. And if you already have included 10 schools on the FAFSA, you can still add another, but you will have to choose a school to remove to make room for it.
Once you remove a school, that institution will no longer have access to new information about you. This could impact your financial aid options. But if you decide to look at another school, or want to remove another university after submitting your application, you can do so.
To edit your school choices:
- Click on the login page to apply for FAFSA and enter your username and password.
- Click on “Make FAFSA Corrections” and navigate to the school selection homepage.
- Search for your school by state, then by college name.
- Select your intended school and click “Add.”
2. Entering an incorrect Social Security Number
Your Social Security Number is a unique identifier the government uses to verify your information and situation. Unfortunately, if you made a mistake on your FAFSA dealing with your SSN, you can’t make a correction to your application online.
The online form does not allow you to change your SSN once the FAFSA is completed. But that doesn’t mean you’re completely stuck.
Instead, reach out directly to the financial aid offices of the schools you want to attend. They will be able to help you with the next steps ao that you can fill out and submit a new FAFSA if necessary.
3. Reporting changes to your economic situation
When you complete the FAFSA, you have to provide a snapshot of your finances. The federal government will ask you to share your income as listed on your tax returns, investments, real estate, or 529 plan savings.
The FAFSA captures your economic situation in a moment in time. So if anything happens to your finances after you submit your application, there’s usually nothing you can do. For example, if you submit your FAFSA and your car breaks down the next day, you may have to empty out your savings to pay for the repairs. But you can’t edit your FAFSA with that change.
But in some circumstances, you can still make major life changes known, and schools will take them into account. For instance, if your parents are laid off from their jobs, one of the household earners dies, or there is a major illness or disability, you can reach out to the schools’ financial aid offices to let them know.
Schools will keep those changes in mind when deciding financial aid packages and issuing need-based grants.
4. Missing the FAFSA deadline
To be eligible for federal financial aid, you can submit your FAFSA starting Oct. 1 of the year prior to the year you will attend school. The federal deadline for the FAFSA falls a year and a half later.
For the 2018-2019 school year, for example, you can submit your FAFSA between Oct. 1, 2017 and June 30, 2019. Any corrections must be submitted by Sept. 14, 2019.
However, while you technically have until the end of June to apply for FAFSA, it’s better to fill it out sooner rather than later. The earlier you apply, the better your chances of getting grants and other limited funds from your intended schools.
And many colleges and universities have their own deadlines that may be different than the federal cutoff. Check with the college’s financial aid offices to see when their deadline is.
If you miss either the federal deadline or the school’s deadline to apply for FAFSA, fill it out as soon as you realize your mistake. Then contact the college or university’s financial aid office to explain what happened, including any extenuating circumstances that may have delayed you.
Depending on the school, and how much money is left, you may still be eligible for some forms of aid. It’s always worth reaching out to the office to see if they can help you.
Completing the FAFSA
Filling out and submitting the FAFSA is an important step in getting you the financial aid you deserve. Completing it accurately and ahead of the deadline can ensure you get the aid you need, but if you make a mistake, don’t panic. Be proactive.
Use this FAFSA FAQ to correct and mistakes and immediately reach out to the school financial aid offices. If you need help with the FAFSA form itself, you can call the FAFSA help line at 1-800-4FED-AID.
Need a student loan?Here are our top student loan lenders of 2018!
|1 Important Disclosures for CollegeAve.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or Nationwide Bank, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Information advertised valid as of 11/1/2018. Variable interest rates may increase after consummation.
2 Important Disclosures for Discover.
3 Important Disclosures for Ascent.
Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB). Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions, and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Turnstile Capital Management (TCM) and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.
* Application times vary depending on the applicants ability to supply the necessary information for submission.
* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
4 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
5 Important Disclosures for PNC.
PNC Bank is one of the nation’s largest education loan providers. For over 40 years, PNC has been committed to helping students and their families make possible the adventure of college.
6 Important Disclosures for SunTrust.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
SunTrust Bank, Member FDIC. ©2018 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.
7 Important Disclosures for LendKey.
Additional terms and conditions apply. For more details see LendKey
8 Important Disclosures for CommonBond.
A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.
Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.
Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.
Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.
9 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|3.94% – 12.78%1||Undergraduate, Graduate, and Parents|
|4.06% – 13.06%3||Undergraduate and Graduate|
|4.34% – 12.99%2||Undergraduate and Graduate|
|4.25% – 11.10%*,4||Undergraduate and Graduate|
|5.03% – 11.23%5||Undergraduate and Graduate|
|4.12% – 13.13%6||Undergraduate and Graduate|
|5.62% – 10.01%7||Undergraduate and Graduate|
|3.93% – 9.81%8||Undergraduate, Graduate, and Parents|
|4.26% – 12.13%9||Undergraduate, Graduate, and Parents|