The best and easiest way to complete the FAFSA (Free Application For Federal Student Aid) is do it online, and early. Although the primary aim for FASA is to assess the eligibility for federal student aid, most colleges and states use it to determine the eligibility for non-federal student aid.
Sometimes, there is limited funding and an early deadline for non-federal student aid, so turning your FAFSA in early gives you a better chance of getting the limited non-federal student aid.
In this article, we are going to cover some mistakes students make when filing FAFSA and how to avoid them.
Common mistakes when filing FAFSA.
If you make errors when filling your FAFSA application form, it could delay your application, which may deny you the much-needed aid.
1. Completing your taxes late.
Many students applying for FAFSA make a mistake of completing their tax late. Completing your taxes early will give you a jump start on the FAFSA since the information is needed to complete the FAFSA. The IRS Data Retrieval tool can also be used to pull accurate information directly from the IRS if you have filled your IRS forms.
2. Leaving blank fields.
Many students make a mistake of leaving empty fields when filing their FAFSA. Too many blanks can cause an application to be rejected, and possible miscalculations. To avoid this, enter a zero or “Not Applicable” instead of leaving a blank.
3. Using decimal or commas in numeric fields.
Most applicants make a mistake of using commas or decimals when filing FAFSA forms. This habit is normal, but it leads to miscalculations. Avoid this by rounding off your values to nearest dollar.
4. Listing incorrect social-security number.
When you list an incorrect social-security number or drivers license, your application will be automatically rejected. Ensure you triple check these entries and have someone check them too to ensure you provide accurate information.
5. Entering wrong federal income paid amount.
Most people tend to use the federal income tax amount paid information provided in their W-2 forms and end up providing the wrong information. Avoid this by obtaining the Federal Income Paid Amount from your Income Tax Returns Forms.
Much of the financial information needed is on your tax forms. Because of this, it is important that you file your taxes before completing your FAFSA. This will simplify your application as all the information you need is in one place.
FAFSA is imperative to students. If you found the information in this article useful, help a fellow student stand a better chance of getting federal and non-federal student aid by sharing this article with your colleagues through social media.
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