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More $120 billion when you look at the government assistance is provided with out every year so you can help family members pay for college. Your merely sample at the an article of that cake is via filling out the fresh FAFSA – the latest Free App to own Government Scholar Aid.

Per October, the application reveals, and you may anxiety from college or university-likely college students as well as their mothers develops. Whatsoever, the form has actually a reputation to be much time, perplexing and you will, truly, discouraging. (Group will differ for the federal government’s testing regarding simply how much they may be able pay for.)

However it is a crucial part of the institution software techniques still, and many earliest planning may go a long way while we are avoiding fears. Here are 9 FAFSA errors to look out for.

1. Perhaps not Filing brand new FAFSA

As many as one in 7 people qualified to receive financial aid neglect to submit the brand new FAFSA, according to Brookings Institute. That costs them real cash. Of your own youngsters whom didn’t file the brand new FAFSA for the 2016, over a 3rd – otherwise dos million students – will have eligible for the latest federal Pell Grant, according to Draw Kantrowitz, blogger out-of Savingforcollege. That is free money, well worth around $six,345 this present year, for college students from reduced- and average-money backgrounds.

Perhaps one of the most prominent reasons for maybe not filing would be the fact people as well as their moms and dads believe they won’t be eligible for you desire-built aid because they build excess amount. (more…)