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has anyone ever tried getting an extension on the may 1 deposit deadline?? my sister needed one last year and just called the admissions office directly (not financial aid) and they gave her until may 15th
Just wondering - did you use the IRS Data Retrieval Tool when you filled out the FAFSA? I'm confused about how it went through at all if there were tax errors that would affect the SAI calculation???
Yes, we did use the DRT. The issue is that our accountant incorrectly categorized some income in a way that didn't affect our total tax liability (so the return was accepted), but it does impact how FAFSA calculates the SAI. The DRT pulled over the numbers, but when the FAFSA system tried to calculate the SAI, something didn't match up with their verification data.
This happens more than you'd think! The IRS and FAFSA systems look at different aspects of your tax return. The IRS mainly cares about correct tax payment, while FAFSA is concerned with categorization of income and assets for financial aid formulas. Especially with the new FAFSA and SAI calculations, even minor categorization issues can affect the entire calculation.
I think the FAFSA automatically assumes a student household size of 1 (just the student) for calculation purposes if that field is blank. Obviously that would result in a much higher SAI than if you have a household of 4! Definitely make that correction from your daughter's account. \n\nI saw a presentation from a financial aid administrator who said this is one of the most common errors they're seeing this year, along with the parent contribution not being split correctly between multiple students.
my daughter just went thru this whole mess with her FAFSA... the schools all wanted different things... some wanted paper forms... others wanted us to wait... it was a disaster. my advice is call EVERY school and be super persistent. keep notes of who you talk to. follow up every call with an email summarizing what they told you.
Quick update on corrections: The Department of Education just announced that the FAFSA correction functionality is scheduled to open on March 28th. They're implementing it in phases, with some students getting access earlier than others. If you've contacted the schools directly as others suggested, you should be in good shape, but mark that date on your calendar to submit the official correction as well.
The whole FAFSA system is a disaster this year!! First they delay the application release, then they put out a buggy Beta version, then the main release has all these glitches... My daughter missed out on thousands in first-come-first-served state grants because of these delays and now we're stuck with more loans. So frustrating!!!!
Quick follow-up: For anyone else with this problem, make sure you complete your section IMMEDIATELY after being restored. I waited a few hours after getting access back, and when I tried to log in again, I was removed a second time! Had to go through the whole browser trick again. Don't delay once you get access back!
Romeo Quest
my son's financial aid counselor said the most important thing is that the Student Aid Index (SAI) calculation needs BOTH parents info if ur married and in the same house. otherwise your daughter might get flagged for verification which is a whole other headache!!
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Melissa Lin
UPDATE: Thanks everyone for your help! My daughter logged in tonight and found the "Contributors" section just like you all suggested. She sent the invite to my husband, and he's creating his FSA ID now. So relieved we caught this before submitting the final application!
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Caden Turner
•Great news! One additional tip - make sure both you and your husband have your 2023 tax return information ready when completing your sections. The contributor sections will ask for specific information from your tax returns, including adjusted gross income and federal income tax paid. Having these documents handy will make the process much smoother.
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Melissa Lin
•Yes, we have all our tax documents ready! Thanks again for everyone's help.
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