One more tip - if you decide to create a new application, take screenshots of all your current data first. That way you have a reference to make sure everything matches exactly. The FAFSA system can flag applications for verification if it sees discrepancies between multiple submissions from the same student.

I'm dealing with this exact same issue! My daughter's FAFSA has been locked since we started it in early December. The gender and ethnicity fields are completely frozen, and we can't add any schools to her list. I've called the FSA helpline four times now and keep getting the same "be patient with the new system" response. Reading through all these responses is so helpful - I had no idea this was such a widespread problem with applications started before the December update. I'm going to try calling tomorrow morning and specifically ask for a "data field unlock" like Malik suggested. If that doesn't work within a few days, I think we'll just bite the bullet and start a new application with screenshots of all our current data. The stress is real though - we've already missed one priority deadline and I'm terrified about missing more. Thanks everyone for sharing your experiences and solutions!

***UPDATE***. It was processed and then we went in and made the change. It was SOOOO easy to fix!!! Just wanted to update everyone who replied. Our SAI dropped by over 11,000 points after removing the retirement accounts. HUGE difference in our aid eligibility. Thanks to everyone who helped!!!

Wow, what a relief that you were able to fix it so easily! That 11,000 point SAI drop is absolutely massive - it really shows how important it is to get the asset reporting right. This whole thread has been super educational for someone like me who's new to the FAFSA process. I had no idea retirement accounts weren't supposed to be included, and honestly the way the questions are worded it's no wonder so many people make this mistake. Thanks to everyone who shared the step-by-step correction process - I'm bookmarking this thread in case I run into similar issues when I fill out my FAFSA next year!

This is incredibly helpful! I'll mark my calendar to follow up with the schools in about 2 weeks. Thank you for such detailed information - this whole process is so much clearer now!

Just wanted to add my experience as another first-time FAFSA filer - I was also confused about the asset questions being skipped! My family has a similar situation with Medicaid coverage, and we ended up with a -1800 SAI. Reading through all these responses has been so reassuring. One thing I discovered is that you can actually check the status of your FAFSA transmission to schools by logging back into your StudentAid.gov account and looking at the "My Activity" section. It shows when each school received your information, which helped ease my anxiety about whether everything went through properly. Good luck with your financial aid packages! Sounds like you're in great shape with that negative SAI.

To follow up on your question about private vs. state schools - YES, definitely have her look at private schools now! With an SAI that low, many selective private colleges will offer incredibly generous financial aid packages that can make them cheaper than state universities. Schools with large endowments often have institutional funds they can use to cover most or all of the cost beyond what federal aid provides. The key term to research is "schools that meet 100% of demonstrated financial need" - these institutions will use your SAI to determine your need and then build aid packages to cover the full cost of attendance minus your SAI amount. With a 92 SAI, your daughter could potentially get packages that cover almost the entire cost at these schools.

As someone who just went through this process with my son last year, I wanted to share that the new FAFSA formula can definitely produce surprisingly low SAI numbers for middle-class families! We had a similar income level and were shocked by our low SAI too. A few things that might have contributed to your daughter's SAI of 92: - The new formula has higher income protection allowances - State tax allowances vary significantly by where you live - Asset protection has changed under the new system - Even small medical expenses or other deductions can have bigger impacts now My advice: Screenshot everything and keep detailed records, but don't panic! We were worried it was an error too, but it turned out to be legitimate. The financial aid packages my son received were incredible - schools that would have cost $50k+ ended up costing us less than our state university would have. Start researching schools that meet full demonstrated need NOW. With an SAI that low, your daughter could potentially attend some amazing private colleges for less than you'd pay at a state school. It really opened up opportunities we never thought were financially possible!

If the laptop is owned by your business and reported as a business asset on your tax forms, then it would be considered part of your excluded business assets. The key is consistency between tax reporting and FAFSA reporting. If you're depreciating it as a business expense on your Schedule C, then it's a business asset and covered by the exclusion.

why does everythng have to be so complicated with fafsa??? last year I spent 3 days trying to figure out how to report my husbands tool chest for his side business. ended up just leaving it off and nothing happened lol