Plan For College

Thursday, October 23, 2014

9 Most Common Mistakes Made on College Financial Aid Forms


We're going to experiment with more concise blog posts for our readers. In each post, we have valuable information for parents and students from college experts with years of experience. With a dedicated following like you, we think we can save you some time by getting right to the point. So without further ado, here we have the most common mistakes we see made on college financial aid forms:

1. Not filing a financial aid form because you think you won't qualify.

2. Filing too early, which can cause the form to be rejected.

3. Filing too late which may result in less financial aid because aid is given on a "first come, first serve" basis.

4. Relying on old information that has since changed - financial aid rules and regulations change yearly, so make sure to avoid FAFSA info that is from the previous year.

5. Relying on help from non-experts who don't have the best information - CPAs, financial planners, and friends usually are not qualified college financial aid experts.

6. Not double checking the experts like government and financial aid form processors who may make mistakes themselves - these mistakes can cost families lots of money.

7. Making mathematical errors - the financial aid processing systems do not correct your math when you make a mistake.

8. Filing incorrect answers which can eliminate your eligibility to receive financial aid. 

9. Misinterpreting ambiguous questions - the FAFSA forms can be complicated and sometimes confusing, leading you to add incorrect answers.

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