Did something change? File a FAFSA correction. | 05.26.10

Posted in FAFSA, Financial Aid By Student Loan Network Staff

File a FAFSA CorrectionIt doesn’t happen often, but once in a while an event can change your financial situation in between when you fill out your FAFSA and the beginning of school. For instance, one of your parents might have lost their job or a change on your taxes could reduce your adjusted gross income. There are many reasons why a FAFSA correction could be necessary and thankfully the process is pretty simple.

First, you can choose to either file your correction via paper mail or online. We recommend filing online because it eliminates the chance of your document getting lost in the mail or significantly delayed due to postal glitches (we all know they happen often.) Once you make that decision, it’s as easy as transcribing your original information and swapping out whatever you are correcting.

To give an example, if one of your parents lost their job, you would file a correction and find the “dislocated worker” line on the parent portion of the form. This removes your family’s assets such as savings and checking account balances from the EFC formula and can potentially net you more financial aid than before.

Keep in mind that for timely processing, you should have your corrections submitted by August 1st at the latest. Any later and effects from the correction probably won’t affect your financial aid until your tuition is already due.

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11 Responses to “Did something change? File a FAFSA correction.”

  1. JOY says on July 18, 2010 at 6:30 pm:

    my grandaughter was turn down for a pell grant , she live with my husband and i had legal custdy until she was 18 and now works and lives on her own. she does wants to go to college now and my huband income was on the form and i lost my job and she did not get. she files her own taxes and does not see her parents. can she make a correction and file for it again.

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  2. Laura says on July 3, 2010 at 11:18 pm:

    Hi My husband is going back to school and when we first apply for fasfa it said we made to much…. however when he goes back to school he will not be working it will only be my income so that dramtically affects us….. what do we need to do to submitte that info?? because all it askes for is last years tax return totals…. which dont apply now.

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  3. Massachusetts Mom says on June 30, 2010 at 12:27 pm:

    My 18 year old stepdaughter lives with me but her father and I are divorced and I am not her legal guardian, should my information be used to file her FAFSA?

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    • Evan Jacobs says on June 30, 2010 at 6:22 pm:

      If you list her as a dependent on your taxes, then yes. Otherwise, it needs to be her biological father.

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  4. michy says on June 26, 2010 at 5:15 pm:

    I have nothing to do with my mother because she has not supported me for 2 years and I have been living with my boyfriend for that time. I understand that even though I'm under 25 i still am a dependent. However, Do you think they will accept my fathers information instead?

    Reply To This Comment
    • Evan Jacobs says on June 28, 2010 at 1:18 pm:

      If they do not file together, sure you can choose to use your father's information instead. Keep in mind the best person to use will be whomever's income generates the lowest Expected Family Contribution (EFC) figure.

      Google "EFC Calculator" to find a tool to use and do all the calculations.

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      • Michy says on June 30, 2010 at 9:35 pm:

        I am a little worried though because my mother i think put me as a dependent and my father didnt put me on his can i still use his instead?

      • Michy says on July 1, 2010 at 11:05 pm:

        Ok so, I already submitted a corrections for 2010-2011 and I used my fathers information but he did not claim me as a dependent. I am little worried but i know that those taxes were from 2009. However, will this affect me? There has been changes in my life because i have not been living with any parent for 2 years now and I could only get my fathers taxes anyway. So hopefully the school will accept this. This did tell me that they need bills from my father and an Id saying that I live at my fathers. Gosh, i wonder what else they need

      • Michy says on June 30, 2010 at 11:36 pm:

        There are a few sites that come up..which one will tell me an approx of how much aid will be needed

  5. Rivka W. says on May 27, 2010 at 3:15 pm:

    Corrections should NOT be filed because of changed status; the FAFSA is a snapshot of the date it was filed. If the financial situation has changed, the student (or their parents) should contact the financial aid office of the school they will be attending and speak to them about an appeal.

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    • Evan Jacobs says on May 28, 2010 at 1:32 pm:

      They should do both, actually.

      But yes if something changes you SHOULD file a correction. It's silly to think that a family with a recently dislocated worker should be forced to pay the EFC of one with two working parents.

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