Avoid Common FAFSA Mistakes

The FAFSA, Free Application for Student Aid is the government form the government and colleges use to determine financial aid.  The majority of forms are filled out incorrectly costing thousands of dollars and time.  Here are some tips to help you fill out the form correctly.

Don’t wait. Fill out the form in the beginning of January and then update the form after your taxes are completed.

Don’t mention retirement assets: You are not required to mention retirement assets on the FAFSA.  Doing so, may impact your financial aid.

No home equity: The federal financial aid form does inquire about second homes and real estate investments, but not about inquire about home equity in the primary residence.

Divorced?   The parent responsible for filling out the form will be the one who has lived with the student for most of the year.

Get help: Call us at 630-907-9830 with any questions.

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