College financial aid PSA

[Enigma]

Its that time of the year. If you are intending to go or have a college student attending school in '24-'25, it's time to file your FASFA financial aid forms (and TAP if applicable). 

Here's the PSA. When you input the parent's finances onto the FAFSA form DO NOT USE the IRS import tool that is suggested on the web site! Enter your earnings and tax info manually. There is a major bug in the system that incorrectly calculates and grossly overestimates the expected family contribution when you use the IRS import tool. Incorrect data will be sent to your college. Your EFC will be very high and you most likely will not qualify for a Pell grant. 

Here's the rub, you cannot correct the info on the FAFSA form once it's been entered with the tool! You cannot correct or appeal to the Feds that the FAFSA calculated aid amount is wrong! You can't redo the FAFSA! Your only option at that time is to submit an appeal to your college and attempt to get the matter straightened out with them. And that's a big rabbit hole with no end. 

I've unfortunately been involved with this fiasco a couple times and it's a big waste of time and frustration to get corrected. Hope this info helps someone avoid the hassle. 

 

[suburbanfarmer]

Thanks for sharing this, has this been an issue for a few yrs?

[Enigma]

At least two years, for our situation anyway. I know of a couple other applicants who've had similar issues. Last year and this year as well. 

[mowin]

Thank God I'm several years past that. Pissed my wife and I off beyond belief that the only way to make our daughters highschool course count as a college degree was to pay $1500.