Forgot to add 529 account on submitted FAFSA - how to amend now?

Yes, you can definitely amend your FAFSA after submitting it! Log into studentaid.gov, go to your FAFSA application, and select the \

Thank you so much! Do you know if this will flag us for verification? I'm really worried about delaying his financial aid package.

we actually did this exact same thing last year lol. forgot about my daughters 529. its fine you can edit it online but do it ASAP. your financial aid package will change tho just fyi

Thanks for letting me know! Do you remember how much your aid changed after adding the 529?

You need to make the correction as soon as possible. While you can edit the FAFSA after submission, 529 accounts do impact your SAI calculation. The formula counts 529 plans as parent assets, which are assessed at a maximum rate of 5.64%. So your $18,500 might reduce aid eligibility by approximately $1,040 at most.\n\nAnd yes, making corrections can sometimes trigger verification, but it's better than being caught with incorrect information later, which could be considered fraud and have much more serious consequences.

Oh wow, I didn't realize the math worked that way. That's actually less impact than I feared. I'll definitely make the correction right away.

DONT WORRY ABOUT IT!! the fafsa people literally EXPECT u to make mistakes thats why they let u do corrections! i had to fix mine 3 different times last year lmaoooo

That makes me feel a little better! Did your corrections trigger any verification requests or slow down your aid?

I had a similar issue but with retirement accounts that I needed to add. When I tried to make corrections online, the site kept crashing or timing out. Spent 4 days trying different browsers and times of day. Finally called the FSA helpline but was on hold for nearly 2 hours before getting disconnected. Wasted an entire weekend trying to fix this!

You should try using Claimyr if you need to reach a FAFSA agent quickly. I was in the same situation with the website crashing, but Claimyr got me connected to an agent in about 15 minutes instead of waiting on hold for hours. They have a video demo at https://youtu.be/TbC8dZQWYNQ that shows how it works. Saved me so much time when I needed to make corrections to my daughter's application. The agent walked me through the whole correction process.

Honestly, the college financial aid office has been WAY more helpful for us than the federal website. After we submitted our correction for our son's 529, his college financial aid office actually helped us understand how it would affect his specific aid package at THEIR school. Different schools treat 529s differently in their institutional aid formulas (not the federal formula, but their own additional aid).\n\nSo after you make the correction online, I'd recommend calling your son's school financial aid office directly to understand the specific impact for him.

That's really good advice! I'll definitely reach out to his school's financial aid office once I make the correction. He's planning to attend State University and I know they have some institutional scholarships too.

btw 529s r considered parent assets not student assets on fafsa which is GOOD NEWS for u!! they count way less in the calculations

That's correct! Student assets are assessed at 20% while parent assets (including 529 plans) are assessed at a maximum of 5.64%. This is why it's actually beneficial for college savings to be in a parent-owned 529 rather than in the student's name.

Update: I was able to log in and make the correction! The process was actually pretty simple. I went to studentaid.gov, logged in with my FSA ID, clicked on \

That's great! And just so you know, you did the right thing. Being proactive about corrections looks much better than having the error discovered during verification. Your son's school will automatically receive the updated information.

i know this is off-topic but 529 accounts are such a scam tbh. my parents saved for YEARS and then we barely got any financial aid because of it. might as well have just hidden the money under a mattress lol

That's actually a common misconception. 529 plans have tax advantages that typically outweigh their impact on aid eligibility for most families. Since they're assessed at just 5.64% (maximum) for FAFSA, a $10,000 529 reduces aid eligibility by at most $564, but the tax-free growth can far exceed that. They're generally beneficial, especially for middle and higher-income families.

Has anyone had to amend their FAFSA form more than once? I just realized I ALSO entered my mortgage value wrong after fixing another issue. Can I do another correction or will that definitely trigger verification??

Yes, you can submit multiple corrections if needed. Each submission will override the previous one. While multiple corrections might increase your chances of being selected for verification, it's more important to have accurate information. Just try to make all your corrections at once if possible to minimize the risk.

I went through this exact same situation two years ago with my daughter's FAFSA! Don't panic - it's actually really common to forget about 529 accounts. The good news is that the correction process is straightforward once you get into the system. Just make sure to have all your 529 account statements handy when you log in to make the changes. Also, pro tip: after you submit the correction, screenshot the confirmation page for your records. Some schools move pretty quickly with financial aid packages, so the sooner you get this corrected, the better. You're doing the right thing by fixing it now rather than hoping it won't matter!

I'm glad to hear you got it sorted out! For anyone else reading this thread who might be in a similar situation, I want to emphasize that it's always better to correct these errors sooner rather than later. The FAFSA system is actually designed to accommodate corrections - they know families make honest mistakes. Just remember that parent-owned 529 accounts are reported as parent assets, and if your child is the beneficiary but you (the parent) own the account, it goes under parent assets, not student assets. This is usually more favorable for your aid calculation. Also, keep documentation of when you made the correction in case the school's financial aid office has any questions later. You handled this exactly right by being proactive about fixing it!