COMMON FAFSA ERRORS

Post on 19-Feb-2016

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COMMON FAFSA ERRORS. Teresa Stover, Loan Processing Coordinator Messiah College . Parents complete the FAFSA and become confused as to whose information the application is asking for. They list their information in the parent section and again in the student section. - PowerPoint PPT Presentation

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COMMON FAFSA ERRORS

Teresa Stover, Loan Processing CoordinatorMessiah College

WHO’S INFORMATION IS IT ANYWAY?Parents complete the FAFSA and become confused as to whose information the application is asking for. They list their information in the parent section and again in the student section.When the FAFSA asks for information for “you” or “your” they want the student’s information

WHAT’S IN A NAME? Is it Joey or Joseph? The

student or parent uses a nickname in place of the “given” name or name on the Social Security Card.

Is your last name really Malina90210? The student or parent is multi-tasking and mispells their name.

SLOW DOWN AND CHECK THE SOCIAL SECURITY CARD

Incorrect social security number used. Mom or dad completes the FAFSA and uses the SS# of a sibling and not the student.

Incorrect date of birth.

IT MAKES NO “CENTS” Neglecting to round to the

dollar so $2,525.76 becomes $252,576.

Listing the same amount for AGI as wages and as taxes paid.

Using the amount of taxes withheld from the W-2

HE/SHE IS NOT MY PARENT Using information from both

biological parents when those parents are divorced

Not listing the step-parent’s information

DATA RETRIEVAL TOOL Checking recently submitted Entering the address

differently than it appears on the tax return

Linking to the site but leaving without transferring the information

FILL IN THE BLANKS If the item doesn’t apply use

the number 0. Students and parents frequently fail to answer questions.

DEPENDENCY STATUS What is providing more than

half the support of a child? Who is a veteran? What is legal guardianship?

WHAT ARE NOT ASSETS Claiming the amount in a

retirement account. Claiming the value of a small

family owned business Claiming the cash value of life

insurance

ALL THE REST Not including the student in

the Household size Filling out the FAFSA but not

signing and submitting it. Making changes to the FAFSA

but not submitting the changes.

THANK YOU FOR COMING TODAY

Questions or comments?

*The names used today have been changed to protect the innocent.