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UPDATE: My mom just signed the correction properly and now the status has changed to "FAFSA Correction Submitted" instead of "In Progress"! Thanks everyone for your help. Now I guess I just wait for processing and hope my SAI gets adjusted correctly.
That's such a relief! The mistaken income entry was making my SAI about $7,500 higher than it should be, which would have meant much less aid. Fingers crossed the correction fixes it!
Awesome update! So glad you got it sorted out. A $7,500 difference in SAI is huge - that could easily mean several thousand more in Pell Grant eligibility alone. Make sure to keep checking your status over the next week and don't hesitate to follow up with your schools once the processing is complete. They sometimes need a gentle nudge to update aid packages after corrections come through.
Congrats on getting it submitted! Just wanted to add for anyone else reading this thread - if your correction involves tax information changes like yours did, make sure you have documentation ready in case your school's financial aid office requests verification. Sometimes when there are significant SAI changes from corrections, schools will ask for tax transcripts or other proof to verify the corrected information before finalizing your aid package. Better to have everything ready so there are no delays once your correction processes!
That's really helpful advice! I hadn't thought about needing documentation ready. Since my correction was fixing a pretty significant tax reporting error, I should probably gather my tax transcripts and W-2s now so I'm prepared if my school asks for verification. Do you know if most schools automatically request verification for large SAI changes, or is it more random?
As a parent who just went through this process with three kids in college simultaneously, I can confirm that the new FAFSA system works exactly as everyone has described! Each student starts their own application, you provide your financial info once when notified, and it flows to all their forms. One additional tip I'd add - if any of your kids are planning to take a gap year or graduate early, make sure you understand how that affects the "number in household attending college" for each academic year. I made the mistake of not updating this when my middle child graduated a semester early, and it affected my youngest's aid package. Also, keep a master spreadsheet with each child's FSA ID, school codes, and application deadlines - trust me, you'll reference it constantly! The financial benefit of having multiple kids in college at once is real, so make sure you're accurately reporting that on each application.
Wow, three kids in college at once - you're a hero! That's a really important point about gap years and early graduations affecting the household count. I hadn't even thought about how changes in enrollment status could impact aid calculations for the other kids. The master spreadsheet idea is brilliant too - I can already see myself getting confused about which FSA ID belongs to which kid or which school codes I need for each application. Thanks for sharing that hard-earned wisdom! It's reassuring to know that even with three kids, the system worked smoothly once you figured out all the details. I'm definitely going to be extra careful about keeping that "number in household attending college" field accurate throughout the process.
This has been such an incredibly helpful thread! I'm a newcomer to this community and just stumbled across this discussion at the perfect time. My daughter is currently a junior in high school and my son is a sophomore, so I'll be facing this exact situation in a couple of years with both kids potentially in college at the same time. Reading through everyone's experiences has already saved me so much stress and confusion down the road! I'm bookmarking this entire conversation and plan to start getting organized early based on all your advice. The tips about creating a shared family calendar, taking screenshots of confirmations, and setting up FSA IDs well in advance are gold. It's also really encouraging to hear that having multiple kids in college can actually help with aid eligibility rather than just being a financial burden. Thank you all for being so generous with sharing your real-world experiences - this is exactly the kind of practical guidance that you can't get from official websites!
Welcome to the community! It's so smart that you're getting a head start on understanding this process while your kids are still in high school. Having that two-year buffer will definitely work in your favor! One thing I'd add to all the great advice already shared - consider having your kids start building their financial literacy now too. Understanding concepts like EFC, Pell Grants, and how family income affects aid will make them better partners in this process when the time comes. Also, if you're planning ahead this far, it might be worth consulting with a fee-only financial planner who specializes in college funding to see if there are any strategic moves you can make with your finances before your kids start applying. The earlier you start planning, the more options you'll have!
As a newcomer to this community, I'm really grateful for threads like this! I'm currently helping my younger sibling navigate the FAFSA process, and reading about these potential issues with FSA IDs is so valuable. It's reassuring to see how knowledgeable and helpful everyone is here. The step-by-step advice about contacting FSA directly and the importance of acting quickly really stands out to me. I'm bookmarking this thread for future reference - you never know when you might run into similar technical issues with the FAFSA system. Thanks to everyone who shared their experiences and expertise!
Welcome to the community, Amina! This thread really is a goldmine of practical information. As someone who's also relatively new to helping with FAFSA applications, I found the real-world experiences shared here incredibly valuable - especially the horror stories about 6-week delays and the relief when Natalie got her issue resolved quickly. It's amazing how a seemingly small technical glitch can potentially derail financial aid timelines. I'm definitely saving this thread too, and I love how supportive everyone is here in sharing their expertise!
As someone new to this community, this thread has been incredibly educational! I'm currently working with families on FAFSA applications and had no idea about the potential complications with multiple FSA IDs. The detailed explanations about how the system uses SSN as the primary identifier rather than the FSA ID itself really helps me understand the technical side of things. It's also reassuring to see that FSA has established processes to handle these situations when contacted promptly. I'm definitely going to share this information with other counselors in my network - the proactive approach of calling FSA before applications get flagged seems like such a crucial piece of advice that could save families weeks of delays. Thank you all for sharing your experiences and creating such a valuable resource!
Welcome to the community, Javier! I couldn't agree more about how educational this thread has been. As someone who's also new to helping families navigate FAFSA complexities, I'm amazed at how much practical knowledge is being shared here. The distinction between SSN as the primary identifier vs. the FSA ID was a real eye-opener for me too. It's great that you're planning to share this with other counselors - the more people who know about these potential pitfalls, the fewer families will have to deal with unnecessary delays. I'm definitely bookmarking all the expert advice from Victoria, Hannah, and Santiago for future reference!
As someone who just finished navigating this exact situation with my son last year, I'd recommend creating a spreadsheet to compare the total cost of each option over the life of the loan. Don't just look at interest rates - factor in fees, repayment terms, and flexibility options. We ultimately went with a private loan through our local credit union (much better rate than the big names) with us as cosigners. Key things that helped us decide: 1. Our credit union offered cosigner release after just 12 on-time payments post-graduation 2. They allowed interest-only payments during school ($35/month) which kept the balance from growing too much 3. Fixed rate was 2% lower than Parent PLUS at the time Also, make sure your daughter understands she'll be paying roughly $135-150/month per $12k borrowed (depending on the rate and term). Have her look up average starting salaries in her field to make sure it's realistic. The rule of thumb is total student loan payments shouldn't exceed 10% of gross monthly income after graduation.
This is incredibly helpful - thank you for breaking down the monthly payment estimates! I hadn't thought about doing a full spreadsheet comparison, but that makes total sense. The 10% rule is a good guideline too. My daughter is going into engineering, so the job prospects should be decent, but I want to make sure we're being realistic about the debt load. Did you find that most credit unions offered better terms than the bigger lenders like Sallie Mae?
I'm actually going through this same decision right now with my youngest! One thing I haven't seen mentioned yet is that some private lenders offer rate discounts for autopay (usually 0.25%) and loyalty discounts if you have other accounts with them. Also, if your daughter has any credit history already (even just being an authorized user on your credit card), that can help with private loan rates. Another consideration - some private lenders let you choose your repayment term (10, 15, or 20 years) which can significantly affect monthly payments. Parent PLUS loans have more limited repayment options unless you consolidate them. Have you checked if your daughter's school has any preferred lender lists? Sometimes they negotiate better rates or terms with specific lenders for their students. Worth asking the financial aid office about when you call them!
Esmeralda Gómez
Thanks everyone for the helpful responses! I went back and found the investment section and included our 529 value there. It's such a relief to know I'm doing this correctly now. I was worried because we've been saving for so long, and I didn't want a mistake to affect my daughter's aid eligibility. I appreciate all the insights about how 529s are treated in the formula too - that 5.64% assessment rate is much better than I feared!
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Amina Toure
Great to hear you got it sorted out! Just wanted to add one more tip for anyone else reading this - if you have multiple 529 accounts (like one you own and maybe another from grandparents), make sure you ONLY report the ones where YOU are the account owner. I made this mistake initially and reported everything, which would have inflated our assets unnecessarily. The key is looking at who's name is on the account ownership, not who the beneficiary is. Also, don't forget to update this value if the market changes significantly between when you file and when schools request verification!
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QuantumQuest
•This is such valuable advice! I'm just starting to navigate this whole FAFSA process for the first time and it's honestly overwhelming. The distinction between account ownership vs beneficiary is really helpful - I probably would have made the same mistake you did initially. Quick question though - when you mention updating the value if the market changes significantly, do you mean we should go back and amend the FAFSA if our 529 balance changes a lot after we submit it? Or is this more about being prepared for verification? I want to make sure I understand the timeline correctly since I'm still figuring out all these deadlines!
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