Common FAFSA Mistakes - COLLEGEdata - Pay Your Way

Common FAFSA Mistakes

Know that sinking feeling when you discover (too late) that you made a big mistake? When it comes to your FAFSA, do everything you can to prevent this.

These missteps on your Free Application for Federal Student Aid (FAFSA) could affect your financial aid awards, according to the National Association of Student Financial Aid Administrators.

  • Waiting to file your FAFSA. Filing your FAFSA as early as possible puts you toward the front of the line when colleges start handing out aid. It ensures that you will meet each college's financial aid deadline, as well as deadlines for state aid and scholarships. Be prepared to complete your FAFSA as soon as possible after it is released on October 1.
  • Leaving answer fields blank. Empty answer fields will cause processing errors and may cause your FAFSA to be rejected. Unless the instructions say you can leave the answer field blank, input a zero for answers requiring numbers and "N/A" ("not applicable") for other answers.
  • Supplying incorrect personal information. Double- and triple-check your Social Security and driver's license numbers. Make sure your date of birth is correct. Use your full legal name as listed on your Social Security card. Students should use their permanent address, not their school address.
  • Using the incorrect source for tax information. When the FAFSA asks for your Adjusted Gross Income (AGI) and income tax paid, use the figures from your tax return, not your W2's.
  • Including the wrong assets. You do not need to include the value of retirement accounts, home equity, college accounts not in a parent's or child's name, and assets of a business with less than 100 employees. Some people mistakenly include the same assets in both the parent and student sections of the FAFSA.
  • Not updating estimated taxes or other information. If you estimated your taxes or other information in your FAFSA, you should supply the correct data to the government as soon as you can.
  • Providing an e-mail address you don't regularly check. The financial aid office may have questions, and they need timely answers to process your application as quickly as possible.

What's Next?

Note: Financial information provided on this site is of a general nature and may not apply to your situation. Contact a financial or tax advisor before acting on such information.

For Students Age 18 and Older

Have you received a Personal Invitation to apply for a Student Credit card?

Learn how to qualify for a Personal Invitation to apply for a Student Credit Card


1st Financial Bank believes students who pick colleges wisely will also want to learn how to use credit cards wisely.

College MatchFind the right colleges for you!
College ChancesWill you get in? Find out!
Admissions TrackerSee who got in where, who's applying & how you compare!
Financial Aid TrackerSee who's getting financial aid, how much & how you stack up.
Scholarship FinderFind money for college!
EFC CalculatorCalculate your Expected Family Contribution.
College Net Price CalculatorSee your true out-of-pocket cost to attend any college.
Compare Financial Aid AwardsFind out which college is offering you the best deal.
Dates &
Deadlines
My Data Locker

You must be logged in to view your Data Locker Dashboard

Log in to see all of your saved colleges, scholarships, articles, profiles and searches in one place. Access your Dashboard from any page.