7 Critical FAFSA & CSS Profile Mistake to Avoid

FAFSA

  1. Do NOT include retirement savings under parent and/or student assets/investments.
  2. Do NOT include home equity under parent savings/investments.
  3. Do NOT include business value (assuming it’s a family business) and you have LESS than 100 full-time employees.
  4. Do NOT include 529 accounts under student savings/investments. 529 accounts are OWNED BY THE PARENT and should be included under parent assets/investments.
  5. Do NOT miss an opportunity for the student to have a ‘work-study’ job on campus. Select ‘Yes.’ This does not obligate you to accept the job or guarantee you a position.
  6. Do NOT assume your Expected Family Contribution(EFC) is what you will actually be expected to pay at each college you are accepted.
  7. Do NOT miss any deadlines.

CSS Profile

  1. Do NOT feel obligated to answer any questions you are not required to answer.
  2. Do NOT overvalue your primary residence if you are a homeowner.
  3. Do NOT include 529 accounts under student savings/investments. 529 accounts are OWNED BY THE PARENT and should be included under parent assets/investments.
  4. Do NOT overstate how much you can pay for college each year. How you answer this question CANNOT help you, but it CAN hurt you.
  5. Do NOT overestimate future year income earnings.
  6. Do NOT make your appeal case in the SQ section. It is typically best to wait for your acceptance and award letter before presenting your appeal case.
  7. Do NOT miss any deadlines.

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