When completing the Free Application for Federal Student Aid (FAFSA) it is so important to complete it as accurately as possible. In reviewing student’s FAFSAs, there are several common mistakes that I have noticed this past year.

Leaving questions blank is a sure way of getting selected for verification. We will definitely cover verification in a later blog but basically if you are selected the financial aid office will request additional information from you and your application will be delayed.

The number of  members in your family question can be tricky. I have seen so many times that students just list themselves and no one else in their household.  If you are a dependent student, you should list yourself, your parent(s), and all other people in your parent(s) household that they provide more than half of their support. If you are an independent student, list yourself, your spouse (if applicable), and all other people in your household that you provide more than half of their support.

Then there are the dreaded income tax questions. Most of these questions ask you for a specific number that is found right on your tax return. The FAFSA tells you what line of your tax return to look at for that number. Also, don’t forget your parent(s) tax information if you are a dependent student.

Now these 4 questions go hand in hand.  1).“Will you have your first bachelor’s degree before July 1, 2011”?   2). “When you begin the 2011-2012 school year, what will be your grade level”? 3). “When you begin the 2011-2012 school year, what degree or certificate will you be working on”? 4). “At the beginning of the 2011-2012 school year, will you be working on a master’s or doctorate program”? Answering any one of these incorrectly will affect your grant eligibility. So, unless you currently have or will have your bachelor’s degree prior to starting the school year, do not check off graduate/professional level or that you will be working on a master’s degree. When we noticed the error and the student later made the correction to their FAFSA, they were then automatically selected for verification which caused a delay in awarding their financial aid.

Lastly, is the lack of parent information and/or signature on a dependent student’s FAFSA. Although most students think they are independent and want to be independent, you have to meet certain criteria to qualify for this status. If it has been determined that you are a dependent student , please have your parent(s) provide their information and sign your FAFSA. You are considered dependent if you answered “No” to every question in step three on the FAFSA.

Those are just some of the most common FAFSA errors my office has seen. My best advice to avoid these types of mistakes would be….

1. Read every question carefully and follow all instructions
2. Keep a copy of your tax return, and parent(s) if dependent. If you file your taxes electronically, print a   
    copy before submitting them. Try to file your taxes as early as possible
3. If you are a dependent student, make sure to include your parent(s) information
4. Don’t forget to electronically sign your FAFSA. You and your parent(s), if dependent, will need to
    apply for a PIN at www.pin.ed.gov in order to sign the FAFSA
5. And lastly, take your time

For additional helpful hints and tips visit http://www.finaid.org/fafsa.

See you next month,
Lisa