Accidentally included retirement in FAFSA investments - can't edit while 'in review'

Don't panic yet! This is a common mistake, and there are ways to fix it. Once your FAFSA moves from 'in review' to 'processed' status, you'll be able to submit a correction. The correction process is pretty straightforward - you'll log into studentaid.gov, click on 'Make FAFSA Corrections,' and then update the investment section. Just make sure you're only counting investments that should be reported (stocks, bonds, 529 plans, etc.) and excluding all retirement accounts as you've realized. If you're really worried about timing, you can also call the Federal Student Aid Information Center at 1-800-433-3243 to see if they can help expedite the process.

I made the exact same mistake last year with my son's FAFSA! The "in review" status usually lasts 3-7 days in my experience. Once it changes to "processed" you can immediately make corrections. One thing to keep in mind - when you make the correction, your application will go back into processing mode again (usually quicker the second time). I'd recommend calling the college financial aid offices directly and letting them know about the correction you're making so they're aware why the numbers changed.

couldnt u just start over with a new application insted? thats what my cousin did when he messed up something on his fafsa last month

I had a similar issue trying to reach someone at FAFSA about investment reporting errors. Spent HOURS on hold and kept getting disconnected. Finally used Claimyr (claimyr.com) to get through to an actual person who helped me understand exactly how to fix my investment reporting mistake. They have a video demo showing how it works: https://youtu.be/TbC8dZQWYNQ The agent I spoke with confirmed that retirement accounts should 100% be excluded from investments and helped me understand exactly what should count. Got my daughter's SAI reduced by over $30k after the correction!

THE ENTIRE FAFSA SYSTEM IS BROKEN THIS YEAR!!!! This new "simplified" FAFSA is a DISASTER! I've been trying to fix an error on my son's application for SEVEN WEEKS!!! Every time I call it's 2+ hours on hold only to get disconnected. Even when it finally processes, the corrections take FOREVER to process again. And don't get me started on how they're calculating the Student Aid Index now - it's completely unfair to middle class families!!!

Just to clarify for everyone in this thread - here's exactly what counts as investments on the FAFSA: ✓ Real estate (other than the home you live in) ✓ Rental properties ✓ Stocks, bonds, and mutual funds ✓ Money market funds, CDs, etc. ✓ College savings plans (529s, prepaid tuition) ✓ Commodities and trust funds Does NOT count as investments: ✓ Your primary residence ✓ ANY retirement accounts (401k, IRA, pension plans) ✓ Life insurance policies ✓ UGMA/UTMA accounts for any children NOT applying Hope this helps!

I went thru the SAME THING but my kid's school had a special form for reporting FAFSA errors!! Check ur daughter's school website under financial aid forms - many have a process where u can alert them about corrections ur planning to make so they don't process the wrong SAI. My daughter's school even put a hold on her file until the corrected SAI came thru!! SUPER HELPFUL

Quick update on processing times - I just helped another family with FAFSA corrections last week and their correction went through in about 5 days, much faster than the initial submission. So once you're able to submit the correction, it shouldn't take too long to get the updated SAI calculation.

I'm dealing with a similar situation right now! Made the same retirement account mistake on my son's FAFSA and have been waiting 10 days for it to move out of "in review" status. One thing I learned from calling the financial aid office directly - they said that even if the correction takes a while to process, they can often work with estimated numbers if you explain the situation and provide documentation of what the corrected SAI should be. Don't give up hope on the need-based aid! Also, some schools have extended their priority deadlines this year specifically because of all the FAFSA issues, so it might be worth asking about that too.

I'm in the exact same boat! Just discovered I included our 401k balance in investments and my daughter's SAI is inflated by about $22,000. Been waiting 8 days now for it to move from "in review" status. Reading through all these responses is giving me some hope though - especially the suggestion about checking if her school has a special form for FAFSA errors. I'm going to contact her financial aid office tomorrow to explain the situation and see if they can put a hold on processing until I can submit the correction. It's such a relief to know this is a common mistake and that there are ways to fix it! Thanks everyone for sharing your experiences - this community is a lifesaver when dealing with this stressful process.