2. Waiting to fill out the FAFSA until you file your taxes
It was just a couple of years ago that the FAFSA form asked for your current year’s tax data. Now, you can submit data from a past year’s tax return that’s easily accessible via IRS.gov or the IRS data retrieval tool within the form. For the FAFSA for academic year 2020-2021, you can actually use your 2018 return. The retrieval tool will auto populate your tax information into your digital form making it easier for you to fill out your application and preventing this common FAFSA mistake.
3. Not filling out the special circumstances form when financial information changes
The special circumstances form is available from college financial aid offices. You fill it out when your income changes from what’s reported on your FAFSA. This could be due to a job loss, a medical circumstance, or just a reduction in income. I filled out the form when I returned to college and quit my job. The reduction in income boosted the grants I was offered by over $1,000 so make sure you consider financial changes to avoid FAFSA mistakes that can affect your aid amount.
4. Thinking there’s an age limit for FAFSA
Federal financial aid is just as available to non-traditional students in the 24 to 35-year-old range as it is to students in their late teens and early twenties. There’s no age limit for receiving federal financial aid.
5. Waiting to list schools until you’re absolutely sure where you’re applying
If you haven’t already, start researching schools. If you don’t list any colleges on your FAFSA, they won’t know you’re potentially interested in applying for grant money from them. Always list state schools first in case they offer additional state-based aid on a priority basis.
You can change the schools on the list at almost any time if you decide to go to a different college, but you should try to change school names ASAP. You don’t want to be on the list after university grants run out for the year.
6. Paying to fill out the FAFSA
A more common FAFSA mistake than you might think, but you should not be paying to file the FAFSA. Filing is free. A paid service will not get you more aid. But high schools, local colleges, and financial aid offices have the resources to help you fill out the form properly. There are also other free sources that can guide you.
7. Not filling it out early enough
Procrastination doesn’t pay off, not filling out the form early on is one of the most avoidable FAFSA mistakes. Fill it out as close to October 1 as possible for every upcoming year that you intend to be a student. You can always make changes later.
Make the most of your federal student aid
By avoiding these common FAFSA mistakes, you can qualify for federal loans and potentially save thousands of dollars for college through grants and scholarships. Fill out the FAFSA as soon as possible.