FINAL UPDATE: My correction processed! My SAI went down by almost $4,700 after removing the retirement account. That should definitely increase my aid eligibility. So glad I caught this mistake and was able to fix it. If anyone else makes this error, definitely submit a correction ASAP!

Wow, this is such a helpful thread! I'm working on my FAFSA right now and I was about to include my dad's 403b account. Thank you everyone for clarifying that retirement accounts should NOT be reported - you just saved me from making the same mistake! @Ev Luca so glad you were able to get it fixed and saw such a big improvement in your SAI. The step-by-step correction instructions from @Marcelle Drum are super clear too. This community is amazing!

Update: I was able to add the community college through the correction process! It was actually really simple - just logged in, selected "Make FAFSA Corrections," and added the new school code. The whole thing took maybe 5 minutes. I also called the community college's financial aid office, and they said we're well within their priority deadline for fall semester. Thanks everyone for your help!

So glad to hear your update worked out! Just wanted to add for anyone else reading this - when you add schools through the FAFSA correction process, make sure to print or save a copy of the confirmation page. I learned this the hard way when there was a technical glitch and one school didn't receive my daughter's FAFSA data. Having that confirmation helped us resolve it quickly with Federal Student Aid. Also, keep checking your Student Aid Report (SAR) to make sure all the schools you want are listed there. Community college was the best decision my daughter made too - she's now at her dream university as a junior with zero debt from her first two years!

Just wanted to add - make sure you understand if her full-ride includes room and board or just tuition and fees. Sometimes students still need loans for living expenses even with a "full tuition" merit scholarship. If that's the case, you might actually want to keep your FAFSA active to qualify for federal loans which typically have better terms than private options.

Congratulations on your daughter's full-ride scholarship! As someone who went through a similar situation last year, I can share what worked for us. We had already submitted our FAFSA when my son received a full merit scholarship, and I was worried about the same thing. Here's what I learned: you absolutely cannot withdraw or delete a processed FAFSA - it's permanently in the federal system. However, what matters is how the school handles it. Since your daughter's scholarship is specifically labeled as merit-based and states it's not based on financial need, you should be protected. I'd suggest drafting an email tonight that says something like: "My daughter has been awarded the Presidential Merit Scholarship. We would like to formally decline consideration for all federal financial aid but want to confirm this will not impact her merit-based scholarship award in any way." In our case, the school's financial aid office was very understanding and simply marked our file as "federal aid declined" while keeping the merit scholarship intact. The key is getting that written confirmation for your peace of mind!

I just want to thank everyone for all this helpful info. I'm definitely going to submit my application ASAP and make sure all my verification documents are ready to go. I'll also talk to my school's financial aid office tomorrow about any emergency funds they might have if there are disbursement delays. Feeling much less panicked now!

As someone who went through a similar situation a few years ago, I wanted to add that it's also worth checking if your state has any emergency financial aid programs. When I had delays with my federal aid during a processing backlog, my state's higher education agency had a small emergency grant program that helped bridge the gap for textbooks and immediate expenses. It wasn't much (like $500) but it made a huge difference at the time. Also, don't forget about your school's food pantry and other campus resources if money gets tight while waiting for aid to process. Most schools have gotten much better about these services since COVID. You've got this!

After dealing with this exact situation last year, I can confirm that you only need one FSA ID as a parent. However, I strongly recommend taking screenshots of the confirmation page after completing each twin's contributor section. The new FAFSA system sometimes doesn't send confirmation emails reliably, and with multiple applications, it's easy to get confused about which ones you've completed. Also, set calendar reminders to check both applications' status regularly. Sometimes one application processes faster than the other even when submitted on the same day.

As someone who just went through this process with my own twins this year, I can confirm what others have said - you definitely only need ONE FSA ID as the parent! The system is actually designed pretty well for this situation once you understand how it works. Here's what worked smoothly for me: After my twins each sent me contributor invitations, I logged in with my single FSA ID and could see both pending requests in my dashboard. I completed each one separately (took about 20 minutes each), and the financial information was the same for both since it's all about our family's finances. One tip that saved me time: Have your 2023 tax return handy before you start either application. Even though you're entering the same info twice, having everything organized made the process much faster. Good luck with your twins' college journey!