The 2021–22 FAFSA was available beginning Oct. 1! If you plan to attend college between July 1, 2021, and June 30, 2022, fill out your FAFSA form as soon as possible!
Just make sure you don’t make one of these common mistakes:
We hear all kinds of reasons: “The FAFSA form is too hard.” “It takes too long to complete.” “I’ll never qualify anyway, so why does it matter?” It matter. For one, contrary to popular belief, there is when it comes to federal student aid. Also, the FAFSA form is not just the application for “free money” such as the Federal Pell Grant, it’s also the application for Federal Work-Study funds, federal student loans, and even scholarships and grants offered by your state, private organizations and Hocking College. It doesn’t take too much time to complete, and there are weekly FAFSA workshops held by the Hocking College Financial Aid Office. Contact email@example.com for more information.
If you want to get the most financial aid possible, fill out the FAFSA form ASAP. Some financial aid is awarded on a first-come, first-served basis, and . Even if it seems like your school’s deadline is far off in the future, get your FAFSA form done ASAP. The 2021–22 FAFSA form requires 2019 tax information, which you should already have — so there’s no excuse to wait!
You should fill out the FAFSA form as soon as possible, but you should DEFINITELY fill it out before your earliest . Each state and school sets its own deadline, and some deadlines are very early. To be sure you are being considered for the maximum amount of financial aid, fill out your FAFSA form — and any other financial aid applications required by your state or school — before the earliest deadline.
4. Not Getting an FSA ID Before Filling Out the FAFSA Form
It’s important to get an FSA ID before filling out the FAFSA form. Why? When you register for an FSA ID, you may need to before you can use it to sign your FAFSA form electronically. An FSA ID is a username and password that you use to log in to certain U.S. Department of Education websites, including . You AND your parent (if you’re considered a ) will each need your own, separate FSA IDs if you both want to sign your FAFSA form online. DO NOT share your FSA IDs with each other! Doing so could cause problems or delays with your financial aid. Don’t wait! Create an FSA ID now: .
When you begin your FAFSA form, you will be asked to identify yourself as one of these:
- I am the student
- I am a parent, preparer, or student from a Freely Associated State
If you’re the student, you should choose the first option. Why? When you do, some of your personal information (name, Social Security number, date of birth, etc.) will be automatically loaded into your application. This will prevent you from running into a . Also, you won’t have to enter your FSA ID again to transfer your information from the IRS or to sign your FAFSA form electronically.
6. Not Using the IRS Data Retrieval Tool (IRS DRT)
For many applicants, the most difficult part about filling out the FAFSA form is entering the financial information. But thanks to a partnership with the IRS, students and parents who are eligible can automatically transfer their necessary 2019 tax information into the 2021–22 FAFSA form using the . It’s the fastest, most accurate way to enter your tax return information into the FAFSA form, so if you’re given the option to “LINK TO IRS” button, take advantage of it!
When it comes to completing the FAFSA form, you’ll want to read each definition and each question carefully; sometimes the FAFSA form is looking for very specific information that may not be obvious.
Here are some items that have very specific (but not necessarily intuitive) definitions according to the FAFSA form:
To determine your dependency status, the FAFSA form asks, “Does someone other than your parent or stepparent have legal guardianship of you, as determined by a court in your state of legal residence?” Many students incorrectly answer “yes” here. For , the definition of legal guardianship does not include your parents—even if they were appointed by a court to be your guardians. Also, you cannot be your own legal guardian.
- The FAFSA form has about which parent’s information needs to be reported. It has nothing to do with who claims you on their taxes. On the FAFSA form you may be asked, “” Use this guide to help you figure out which parent to report on the FAFSA form.
The FAFSA form has a specific definition of how your household size or your parents’ household size should be determined. Read the instructions carefully. Many students incorrectly report this number, especially when the student doesn’t physically live with the parent.
Enter the number of people in (or household who will attend college at the same time as you. Don’t forget to include yourself, but don’t include your parents in this number, even if they’re in college. This number should never be greater than your number of family members.
. For example, a college savings plan such as a 529 account is considered an investment*, while the value of the home in which you live and the value of your retirement accounts are not. We highly recommend that you to make sure you are reporting this information correctly.
For this question, you report only college grant and scholarship amounts . That means you should not use the amount listed on your 1098-T; you should report the amount listed on your tax return. Do not use the number in the adjusted gross income (AGI) field. . If you didn’t file taxes, you should enter zero.
*If you’re a dependent student, the value of any college savings accounts should be reported as a parent asset, not a student asset.
8. Inputting Incorrect Information
Here are some examples of common errors we see when people complete the FAFSA form:
- We know there are many parents out there who fill out the FAFSA form for their children, but remember, it is the student’s application. When the FAFSA form says “you” or “your,” it’s referring to the student, so make sure to enter your (the student’s) information. If the form is asking for your parent’s information, it will specify that in the question.
- After you create an FSA ID, your information (name, Social Security number (SSN), date of birth) is sent to the Social Security Administration to be verified. If you then enter a different name, SSN or date of birth on the FAFSA form, you’ll receive an error message. This is often the result of a typo or mixing up student information and parent information. To avoid delays, triple-check that you have entered your information correctly. .
- The FAFSA form is asking for your assessed income tax liability, not the amount of income tax withheld and not your AGI. We know this can be complicated. To avoid this common error, either transfer your tax information to the FAFSA form using the IRS DRT, or . (Note: It depends on which IRS form you filed.)
- Even if you fully support yourself, pay your own bills, and file your own taxes, you may still be considered a dependent student for federal student aid purposes. If so, you must on your FAFSA form. Dependency guidelines for the FAFSA form are determined by Congress and are different from those of the IRS. Find out whether you need to provide parent information by answering If you’re considered a dependent student and don’t provide parent information, .
- If you follow our recommendation and use the IRS DRT, a lot of the financial information required on the FAFSA form will be automatically filled in for you. However, the IRS DRT doesn’t populate everything; some numbers, including many items in the “Additional Financial Information” section, must be manually entered. If you used the IRS DRT, you’ll see that some boxes in that section are pre-checked and the fields pre-filled with “Transferred from the IRS.” However, other items, such as “” and others, cannot be transferred from the IRS. You must manually review each item in the list, check the box if it applies to you, and enter the appropriate amount by referencing your relevant financial records. In the case of payments to tax-deferred pension and retirement savings plans, you can find that information on your W-2 form.
10. Listing only one college
Unless you are applying to only one college or already know where you’re going to school, you should include more than one. Colleges can’t see the other schools you’ve added, so you should add ALL colleges you are considering to your FAFSA form, even if you aren’t sure whether you’ll apply or be accepted. You can add up to 10 schools at a time. If you’re applying to more than 10 schools, .
It doesn’t hurt your application to add more schools. In fact, you don’t even have to remove schools you later decide not to apply to. If you don’t end up applying or getting accepted to a school, the school can just disregard your FAFSA form. But you can remove schools at any time to make room for new schools.
11. Not Signing the FAFSA Form
So many students answer every single question that is asked but fail to actually sign the FAFSA form with their FSA ID and submit it. This happens for many reasons—maybe you or your parent isn’t with you to sign with the parent FSA ID—so your application is left incomplete. Don’t let this happen to you.
- If you don’t know your FSA ID, select “Forgot username” and/or “Forgot password.”
- If you don’t have an FSA ID, .
If you’re not able to sign with your FSA ID, there’s an option to mail a . If you would like confirmation that your FAFSA form has been submitted, you can immediately after you submit your FAFSA form online.