Teresa Stover, Loan Processing Coordinator Messiah College.
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Transcript of Teresa Stover, Loan Processing Coordinator Messiah College.
COMMON FAFSA ERRORS
Teresa Stover, Loan Processing CoordinatorMessiah College
WHO’S INFORMATION IS IT ANYWAY?
Parents complete the FAFSA and become confused as to whose information the application is asking for. They list their information in the parent section and again in the student section.When the FAFSA asks for information for “you” or “your” they want the student’s information
WHAT’S IN A NAME?
Is it Joey or Joseph? The student or parent uses a nickname in place of the “given” name or name on the Social Security Card.
Is your last name really Malina90210? The student or parent is multi-tasking and mispells their name.
SLOW DOWN AND CHECK THE SOCIAL SECURITY CARD
Incorrect social security number used. Mom or dad completes the FAFSA and uses the SS# of a sibling and not the student.
Incorrect date of birth.
IT MAKES NO “CENTS”
Neglecting to round to the dollar so $2,525.76 becomes $252,576.
Listing the same amount for AGI as wages and as taxes paid.
Using the amount of taxes withheld from the W-2
HE/SHE IS NOT MY PARENT
Using information from both biological parents when those parents are divorced
Not listing the step-parent’s information
DATA RETRIEVAL TOOL
Checking recently submitted Entering the address
differently than it appears on the tax return
Linking to the site but leaving without transferring the information
FILL IN THE BLANKS
If the item doesn’t apply use the number 0. Students and parents frequently fail to answer questions.
DEPENDENCY STATUS
What is providing more than half the support of a child?
Who is a veteran? What is legal guardianship?
WHAT ARE NOT ASSETS
Claiming the amount in a retirement account.
Claiming the value of a small family owned business
Claiming the cash value of life insurance
ALL THE REST
Not including the student in the Household size
Filling out the FAFSA but not signing and submitting it.
Making changes to the FAFSA but not submitting the changes.
THANK YOU FOR COMING TODAY
Questions or comments?
*The names used today have been changed to protect the innocent.