File your federal income tax return early, before filling out the FAFSA, to avoid missed deadlines. Turning your FAFSA in early could earn you limited nonfederal aid funds that may not be available if you delay. According to the U.S. Department of Education, the standard deadline for submitting your FAFSA for the coming school year is 12:00 a.m. Central Daylight Time on June 30th. Any necessary corrections must be made by mid-September to be approved, so apply as early as possible.
Read over the instructions and questions on the FAFSA application. Call the Federal Student Aid Information Center or the financial aid administrator at your school if you don't understand a question. According to FinAid, the most common errors on the FAFSA form involve questions about income and personal information. To provide accurate answers, refer to your Social Security card, birth certificate and current tax forms. Enter your legal name exactly as it appears on your Social Security card. Write your Social Security Number (SSN) and date of birth clearly. Check your application to make sure your Social Security Number is in the correct box.
A common income mistake is choosing head of household status when you do not qualify. The school will require an amended income tax return be filed if the filing status on your tax return is incorrect. Visit the Internal Revenue Service website or call the IRS hotline to find out whether you qualify for head of household status. Another common mistake is calculating incorrect amounts for federal income tax values. People mistakenly use W-2 forms to determine the amount of income tax paid, but W-2 forms are not the best source for tax information. Refer to your most recent income tax return forms to calculate the exact amount of federal income tax paid for the last year. When filling out the FAFSA, always round to the nearest dollar, and do not use any decimals or dashes.
Verify that all blanks have been filled in on the FAFSA form. According to the National Association of Student Financial Aid Administrators, leaving fields blank is the most common reason for delays or rejection. Write in a zero for questions that do not apply to you. Sign the FAFSA in all designated areas and have second parties sign the forms if required. If filing for federal aid online, apply for a PIN to electronically sign the FAFSA form. If someone helped you complete the form, or told you what to write, that person must complete the "Preparer's Use Only" section and sign the form as well.
The FAFSA allows you to list up to ten colleges for which you have applied. Make sure you obtain the Federal School Code for each college and list the correct code where indicated. The federal processors will send the pertinent information from your FAFSA application to the colleges on your list. College information is necessary for federal funds to be appropriated to the school of your choice once your FAFSA is approved. Failure to list a college may result in delays or the return of your application.