FAFSA stuck in 'Corrections in Review' after accidental click - can't update 401k investment info!

This happened to my son last year! It's annoying but not a disaster. You have two options: 1) Wait for the current 'correction' to process (usually takes 3-5 business days) and then make your actual 401k correction, or 2) Call the Federal Student Aid Information Center directly at 1-800-433-3243 and explain the situation - they can sometimes cancel pending corrections if you catch it early enough.

Thank you! Do you know how long the phone wait times are these days? Last time I tried calling about a different issue I waited for over an hour and then got disconnected.

done the same thing lol. just wait it out, system will process in like 3 days then u can go back in. not worth stressing about

That's a relief! I'm just worried because her college priority deadline for aid is coming up in 2 weeks.

I work in financial aid at a university, and I can tell you that including retirement accounts in your assets is actually one of the most common mistakes parents make on the FAFSA. The good news is that this correction will significantly lower your daughter's SAI (Student Aid Index), which means more aid eligibility. The bad news is that you do have to wait for the current

That's really helpful information - thank you! I'll definitely call her school tomorrow. Do you know roughly how much including vs. excluding a 401k typically changes the SAI calculation? Just trying to understand the impact.

If you need to reach the Federal Student Aid folks quickly, I've had success using Claimyr (claimyr.com). It basically holds your place in the phone queue so you don't have to stay on hold forever. They got me through to a real person in about 15 minutes last month when I needed to fix a similar issue with my son's FAFSA. They have a video showing how it works here: https://youtu.be/TbC8dZQWYNQ

is that service legit? seems kinda sketchy to have someone else call for u

It doesn't call for you - it just holds your place in line and then connects you when an agent is available. I was skeptical too but it saved me hours of hold time when I needed to fix my FAFSA contribution section.

THE EXACT SAME THING happened to me!!!! The new FAFSA system is TERRIBLE!!! I waited almost 2 weeks for the fake \

Actually, retirement accounts like 401ks and IRAs are completely excluded from the SAI calculation when reported correctly. If removing your retirement accounts didn't change your SAI much, it's likely because you have other assets that are still being counted. The FAFSA methodology primarily focuses on non-retirement assets, current income, and family size when determining aid eligibility.

I went through this same situation. After the pending correction finished processing (took about 4 days), I was able to go back in and make the actual correction to remove my retirement accounts. One thing to note - when you do get back in to make the real correction, make sure you check ALL of the asset fields carefully. I noticed that some of my other numbers had changed slightly during the processing, which was strange. Also, be sure to take screenshots of everything before and after for your records. The financial aid office asked me for those when I was explaining the situation.

Thank you for the tip about screenshots! I wouldn't have thought of that. I'll definitely document everything once we can get back into the system.

why r u even bothering to fix it? if u report more assets doesnt that just mean less financial aid? seems like fixing it would help u get more $$$

It's important to report accurately. Retirement accounts like 401ks aren't supposed to be included in FAFSA asset calculations at all. Reporting them incorrectly can artificially inflate the Student Aid Index and reduce aid eligibility. Plus, FAFSA information may be verified against tax records later, and discrepancies could cause problems with aid disbursement.

Update: Just wanted to let everyone know that the accidental correction processed after 4 days, and we were able to go back in and make the proper updates to remove the retirement accounts. After the correction, my daughter's SAI dropped by about 14,000 points! That could make a huge difference in her aid package. Thanks everyone for your help and advice!

awesome! glad it worked out for you!

That's a significant improvement! Be sure to notify all the schools she applied to that there was a meaningful correction to her FAFSA. Some schools might have already downloaded her initial data, and they won't automatically get the updated information unless they pull her FAFSA again.