As someone who's currently going through the FAFSA process for the first time myself, I want to thank everyone who's shared their experiences here - this thread has been incredibly helpful! I'm in a similar situation with divorced parents and I've been so worried about making mistakes that might affect my aid eligibility. Reading about the IRS Data Retrieval Tool and how it automatically pulls accurate tax information has given me a lot more confidence. I had no idea that about 30% of applications get selected for verification - knowing that it's actually pretty common makes it feel less scary if it happens to me. The advice about contacting the financial aid office proactively really resonates with me. I've been hesitant to reach out because I didn't want to seem like I didn't know what I was doing, but it sounds like they actually prefer when students and families communicate early about complicated situations. One question for those who've been through verification - how long does the process typically take once you submit all the requested documents? I'm worried about missing out on aid if there are delays in processing.

As someone who works with students navigating financial aid appeals, I want to emphasize something that hasn't been mentioned yet - if your FAFSA gets verified and corrections result in a higher SAI (reducing aid), you can still appeal through what's called a "special circumstances review" or "professional judgment appeal." Given your divorce situation and the 401k withdrawal for legal fees, you may have grounds for an appeal even after verification is complete. Schools can consider factors like: - One-time income from retirement withdrawals due to divorce - High legal expenses related to divorce proceedings - Loss of spousal income/support - Changes in household composition Start documenting everything NOW - divorce decree, legal fee receipts, any court orders about support, proof of changed living arrangements. Even if the initial FAFSA shows a higher SAI due to the 401k withdrawal, a successful appeal could get your daughter additional institutional aid or even federal aid adjustments. Don't assume the first aid offer is final - many families don't realize they can appeal, especially when there are unusual circumstances like divorce. Each school handles appeals differently, so research their specific process early.

As a newcomer to this community, I'm so grateful to find this thread! I'm currently going through the exact same situation with my son's FAFSA showing an SAI that seems impossibly high for our income level. Reading through everyone's experiences and advice here has been incredibly reassuring - especially seeing @Morita Montoya's update about finding those major errors and getting things corrected. I'm now motivated to go back through our FAFSA line by line to look for similar mistakes. The retirement account confusion seems to be a really common issue based on what I'm reading here. It's also helpful to know that financial aid officers at colleges are used to dealing with these situations and can be supportive. Thank you all for sharing your knowledge and experiences - it's making what felt like an impossible situation seem much more manageable!

Welcome to the community! As someone who went through this exact nightmare last year, I can tell you that an SAI of 73K for a $125K household income with two kids is almost certainly wrong. The most common culprits I've seen (and experienced myself) are: 1. Retirement accounts accidentally listed as regular investments - this alone can add 20-40K to your SAI 2. Home equity or refinancing proceeds reported incorrectly 3. Business assets valued wrong if you own any part of a business The good news is that corrections can be made relatively quickly online, and I've seen SAIs drop by 30-50K after fixing these types of errors. Don't wait - log into your FAFSA account tonight and go through each section carefully. Also reach out to your daughter's preferred schools' financial aid offices immediately to explain the situation while you're working on corrections. You're not alone in this - so many families deal with initial FAFSA errors. Stay hopeful and keep us updated on how the corrections go!

As someone who's been through this process multiple times, I can confirm what others have said - employer retirement plans are excluded regardless of the investment type. The confusion often comes from the FAFSA's wording about "stocks and bonds" but that refers to regular investment accounts, not retirement-designated accounts. One tip: if you're ever unsure about a specific account, look at your tax documents. If it's reported on forms like 1099-R (with retirement distribution codes) or if contributions reduce your taxable income, it's almost certainly a retirement account that shouldn't be reported on FAFSA. Also worth noting - this distinction can make a HUGE difference in your Student Aid Index (SAI). Retirement assets aren't assessed at all, while regular investments are assessed at about 5.6% for parents. So getting this right could potentially save you thousands in expected contributions!

Just wanted to chime in as someone who made this exact mistake two years ago! I included my spouse's employee stock purchase plan (ESPP) that was designated for retirement and it absolutely killed our aid eligibility. Took months to get it corrected through the financial aid office. The way I understand it now: if you can't access the funds without penalties until retirement age AND it's through an employer-sponsored retirement program, don't report it. Period. The fact that it's invested in company stock instead of mutual funds is irrelevant - it's still a qualified retirement plan. For anyone reading this thread who already submitted their FAFSA with retirement assets included, definitely contact your school's financial aid office ASAP about a correction. They can usually help you fix it, and the difference in your aid package could be substantial!

This thread has been so incredibly helpful! As someone new to navigating financial aid, I had no idea how much variation there could be between state schools. Reading everyone's experiences really validates what I'm going through. I'm curious about one specific aspect - when you're comparing aid packages, how do you handle differences in work-study awards? One of my schools offered $2,500 in work-study while another offered none. I'm trying to figure out if I should count that as "real" financial aid since I'd have to work for it, or if it's more like a guaranteed job opportunity. Does work-study typically interfere with academic performance, or is it pretty manageable alongside a full course load? Also, for those who mentioned departmental scholarships - when is the best time to start applying for those? Should I wait until I've officially enrolled somewhere, or can I start researching and applying now while I'm still deciding between schools? Thank you all for being so generous with your advice and experiences. This community is amazing for helping navigate such a stressful process!

This entire discussion has been so enlightening! As a newcomer to the financial aid world, I had no idea that state schools could have such dramatically different aid packages. Reading through everyone's experiences makes me feel much less alone in this confusing process. One thing I'm wondering about that I haven't seen mentioned yet - do any of these aid packages change if your family's financial situation changes during college? Like if a parent loses a job or has medical expenses, can you appeal for more aid mid-year? Or are you basically locked into whatever package you accept for all four years? Also, I keep seeing people mention "peer institutions" when talking about appeals - how do schools decide which other schools are considered their "peers" for comparison purposes? Would a financial aid office take seriously an offer from any other state school, or does it need to be from a school they see as directly competitive? Thank you all for sharing so much valuable insight. This thread should honestly be required reading for anyone applying for financial aid!

I'm going through this exact same process right now with my daughter! Reading through all these responses has been incredibly reassuring - it's so helpful to know other parents are dealing with the same confusion. I was definitely overthinking whether I needed my own separate College Board account. Just wanted to add one thing that might help other parents - when your student sends you that parent link to complete your section, make sure you're on a secure computer/network and not using public WiFi. The CSS Profile contains a lot of sensitive financial information, so it's worth being extra careful about security. I learned this the hard way when I almost started filling it out at a coffee shop and then realized how much personal data I'd be entering. Also, if anyone else is feeling overwhelmed by gathering all the financial documents, I found it helpful to tackle it in chunks over a few days rather than trying to find everything at once. Start with the easy stuff like bank statements and tax returns, then work your way up to the more complicated items like business valuations or home equity estimates. Thanks to everyone who shared their experiences - this community is such a lifesaver during college application season!

As a parent who just went through this process with my son last year, I can confirm everything everyone has said about the student creating the CSS Profile through their existing College Board account. The "Share Application" feature is definitely the way to go - it gives you privacy to handle the parent financial section while keeping your daughter in control of her overall application. One thing I'd add that really helped us was to do a "practice run" first. Before diving into the actual CSS Profile, we spent about 30 minutes just looking through the sample questions on College Board's website so I knew what information would be needed. This prevented us from getting halfway through and realizing we were missing key documents. Also, don't forget that CSS Profile fees can add up quickly ($25 for first school, $16 for each additional), but the detailed financial picture it provides often results in better aid packages from private schools compared to what FAFSA alone would generate. Many families actually come out ahead despite the extra complexity. The early decision deadlines can be tricky - some schools want CSS submitted 2 weeks before the application deadline, so definitely confirm those dates with each school. You're being smart to tackle this early rather than waiting until the last minute. Good luck with your daughter's applications!