7 Common FAFSA Mistakes and How to Avoid Them

1. Not Registering for an FSA ID

You can print out the FAFSA forms, fill them out by hand and submit them via mail. However, the process goes more quickly and smoothly if you register for a Federal Student Aid (FSA) ID and submit the application online.

What's more, having an FSA ID and completing the form online will make it easier for you to correct potential mistakes later on.

2. Missing the Deadline

The federal FAFSA deadline is June 30 each year. However, your state and educational institution may have earlier deadlines you'll need to meet to qualify for state-based and institutional financial aid.

If you miss your state's or school's deadline, you may be ineligible for certain grants, scholarships and other forms of aid. If you miss the federal deadline, you'll also be ineligible for federal aid, including grants, the work-study program and federal student loans, for the current academic year.

Learn more >> What Are the Different Types of Student Loans?

3. Not Filing Early

While missing a FAFSA deadline can lock you out of financial aid eligibility for the current school year, that doesn't mean you should wait until the last minute to submit your application.

That's because some forms of financial aid are awarded on a first-come, first-served basis. So, while you may technically be eligible for certain grants or scholarships, you might not get one if you don't file your FAFSA early.

4. Leaving Fields Blank

If you leave certain fields blank on the application, it could cause miscalculations, resulting in a rejection of your FAFSA. As a result, it's crucial that you fill out the form in its entirety. If something isn't applicable, you can simply enter "0" or "N/A" instead of leaving it blank.

5. Not Listing Schools

When filling out the FAFSA, you'll need to list at least one college or trade school to receive your information. However, unless you're completely certain about the school you're planning to attend, it's a good idea to include multiple schools—even if you haven't yet applied to all of them.

If you end up attending a school that you didn't list on the form, you can correct your FAFSA online and add the college. However, it may take longer to receive a financial aid package from the college.

The Department of Education allows you to add up to 20 schools to your FAFSA, and for the most part, the order doesn't matter. However, some states may only offer aid for the first eligible school you list.

Learn more >> How to Pay for College When Financial Aid Isn't Enough

6. Entering Inaccurate Information

The FAFSA can be overwhelming for some students (and parents). However, while it may be tempting to speed through the application, it's crucial that you carefully answer each question and double-check your answers before submitting the form.

Some things to pay special attention to:

• Use your full legal name on the application rather than your nickname.
• Verify your and your parents' Social Security numbers.
• If your parents are divorced and remarried, be sure to include details about your stepparents.

One way to ensure accurate income information, for instance, is to provide consent and approval for the Department of Education to obtain your federal tax information. In addition to minimizing errors, it can also save you from having to research and enter those details manually.

7. Not Listing a Transfer School

If you're planning to transfer to a different university—or even if you're considering it—it's important to include the school in your application. Otherwise, the school you have your eye on won't be able to put together a financial aid package for you.

Not having financial aid could delay your transfer or put you in a difficult financial position as you move schools.

How to File the FAFSA

It typically takes less than an hour to fill out and submit the FAFSA. However, the time it takes you to complete the application may vary depending on your preparation. Here are some steps you can take to make the process go as smoothly as possible:

1. Create a StudentAid.gov account. To fill out the FAFSA online, you'll need an FSA ID, which you can get through StudentAid.gov. Note that anyone else, including parents and spouses, who's required to provide information on the FAFSA will need their own FSA ID.
2. Gather your documents. To make sure your details are accurate, you'll want to gather certain documents or information, including Social Security cards or numbers, tax returns, child support records (if applicable) and current balances for bank accounts, investments, businesses and other assets.
3. Fill out the application. Log in to your StudentAid.gov account and start the application process. You'll list your schools, answer questions about your dependency status, provide parental information (if you're a dependent student), report spousal details (if applicable) and detail your finances.
4. Review and sign the application. Before you sign the FAFSA, review your application to make sure it's completely filled out and the information is accurate. Then, you can sign the form electronically and submit it. Once you do so, you'll receive a confirmation, along with some estimates of your eligibility for federal financial aid.

The Bottom Line

Submitting the FAFSA each year is a requirement if you want federal financial aid. However, some mistakes could delay your application or even result in a denial. In some cases, it could even result in you getting less financial aid.

As a result, it's critical that you take your time to understand the FAFSA and verify the information you provide to minimize potential hiccups in the process.