Unexpectedly high SAI ($105,000) on FAFSA - is my rental property causing this?

The rental property is almost certainly the issue. When you report real estate investments on the FAFSA, they count the full asset value, not just your equity. Did you report the full market value ($180k equity + whatever you still owe)? That would definitely spike your SAI. Also, investment properties are weighted heavily in the formula - they don't get the same protection as your primary residence.

had this exact same problem last yr!! the rental property KILLS u on fafsa. they count the whole thing as an investment asset. we ended up with no aid at all bcuz of it. sucks cuz were not rich either just trying to build some wealth.

The FAFSA calculation for investment properties can be tricky, but there's an important distinction to make. You should report: 1. The current market value of the property (not what you paid for it) 2. Minus any outstanding debt secured by the property That gives you the net value, which is what should be reported. However, rental properties are considered investment assets, not protected assets like your primary home. Another thing to check - did you accidentally report your retirement accounts? Those should be excluded from FAFSA. Also verify you didn't double-count any income from the rental property if it's already reflected in your tax returns.

when r yall gonna realize the whole system is RIGGED against the middle class??? too "rich" for aid, too poor to pay cash. welcome to america where only the super rich and super poor get any help lololol

I spent HOURS trying to reach someone at Federal Student Aid last month for a similar issue with our rental property. Kept getting disconnected or waiting forever. Finally used Claimyr (claimyr.com) and got connected to an agent in under 15 minutes who actually helped fix our reporting error. They have a demo video if you're curious: https://youtu.be/TbC8dZQWYNQ The agent explained that investment properties are assessed differently than primary homes, but there are specific ways to report them correctly. Definitely worth speaking to someone directly about your situation.

Im confused about all this cuz my parents have 2 rental houses and our SAI was only like 8,000??? We're definitely not poor either, my dad makes like 100k. Maybe u entered something wrong in another section?

Based on what you've shared, I strongly suspect you've accidentally included retirement assets or made another major reporting error. With your income (~$140K combined) and one rental property, your SAI would typically be much lower than $105K unless there are substantial additional assets or unusual income situations. Submit a correction on studentaid.gov as soon as possible. You can do this even after you've received your SAI. Look especially at: 1. Retirement accounts (should be EXCLUDED) 2. Value of the rental property (net value only) 3. Any business assets or farm values 4. Any large one-time income events that shouldn't be counted Also, immediately contact each college's financial aid office to explain the situation. They can sometimes make professional judgment adjustments.

did u check the special circumstances box anywhere? sometimes if u have unusual financial situation u can get them to reconsider

After reviewing all the comments, it sounds like you've identified some significant errors in your FAFSA submission that are likely causing the inflated SAI. This is actually good news! Many schools will have deadlines for financial aid corrections, so make sure you: 1. Submit the corrections through studentaid.gov immediately 2. Email each school's financial aid office explaining the situation 3. Follow up with phone calls if you don't hear back within a week 4. Keep documentation of when you discovered the errors and what steps you've taken I had a similar issue years ago when helping my son with his FAFSA, and most schools were very understanding once we explained and documented the errors. Your SAI should decrease substantially once the retirement accounts and double-counted 529 funds are removed from consideration.

This is exactly why I always recommend having someone double-check your FAFSA before submitting! The retirement account mistake is SO common - I see it happen all the time. The good news is that once you get those corrections processed, your SAI should drop dramatically. With your actual income and just the rental property equity, you're probably looking at an SAI closer to $15-25K range, which would qualify you for at least some federal aid. Make sure when you contact the schools that you mention this was an honest mistake discovered immediately after receiving your SAI - most financial aid offices are very reasonable about genuine errors like this.

Reading through this entire thread has been so reassuring! I'm a newcomer to this community and currently going through my first FAFSA experience with my oldest child. Ashley, your situation is exactly the kind of thing that keeps me up at night - the fear of making a simple mistake that completely derails our financial aid eligibility. It's incredible how helpful everyone has been with specific, actionable advice. The retirement account error seems to be a trap that catches so many families, and I never would have thought about the double-counting issue with 529 funds. I'm definitely going to use this thread as a checklist when I review our FAFSA before submitting. The suggestion about using Claimyr to actually reach a human at Federal Student Aid is gold - I've been dreading trying to call them directly. And the reminder that schools have professional judgment options gives me hope that even if we make mistakes, there are still ways to advocate for our kids. Thank you to everyone who shared their experiences and expertise. This community is such a valuable resource for navigating this overwhelming process!

I'm new to this community and just reading through this thread has been incredibly helpful! Ashley, I'm so glad you found those major errors - the retirement account mistake especially seems like such an easy trap to fall into. I'm currently preparing to fill out the FAFSA for my son and this discussion has me creating a checklist of things to double and triple check. The tip about Claimyr for actually reaching Federal Student Aid is something I'm definitely bookmarking. I've been dreading the thought of trying to navigate their phone system. And seeing how supportive everyone has been with specific, actionable advice really shows what a valuable resource this community is. One question for those who've been through corrections - approximately how long did it take to get your revised SAI after submitting the changes? I want to set realistic expectations in case we run into any issues. Thanks to everyone for sharing your experiences and expertise!

I'm new to this community and currently stressing about my own FAFSA situation, so this thread has been incredibly reassuring! Ashley, I'm so glad you discovered those major errors - it shows how easy it is to make costly mistakes even when you're being careful. The retirement account exclusion seems to trip up so many families, and I never would have thought about the 529 double-counting issue. I'm in a similar boat with a rental property and was panicking about how it would affect our SAI. Reading through everyone's explanations about reporting net equity (market value minus mortgage debt) has been so helpful. I was confused about whether to report the full property value or just our equity portion. The tip about Claimyr for reaching actual Federal Student Aid representatives is going straight into my bookmarks - I've been dreading trying to navigate their phone system. And knowing that schools have professional judgment options gives me hope that there are multiple ways to advocate for fair treatment. Thank you to everyone who shared their experiences and advice. This community is proving to be such a valuable resource for navigating this overwhelming process!

Welcome to the community! I'm also navigating the FAFSA for the first time and this thread has been absolutely invaluable. Ashley, I'm so relieved you found those errors - it gives me hope that if we make mistakes, they can be fixed! The retirement account exclusion seems to be such a common trap. I had no idea those needed to be completely excluded rather than just reported differently. I'm curious about the timeline for corrections - for those who have been through this process, how quickly did schools respond once you reached out to explain the errors? I'm wondering if it's worth getting ahead of potential issues by having our tax preparer review our FAFSA before we submit, especially since we also have some investment assets that I want to make sure we're reporting correctly. The Claimyr recommendation is going straight to my bookmarks - anything that helps avoid the endless hold times with Federal Student Aid seems worth trying. Thanks to everyone for sharing such detailed, helpful advice!