<p>I made a big mistake on my FAFSA.
I received a loan from abroad, which does not show on my IRS because it did not originate in the USA, so I have a large sum of money sitting in my bank account which I am about to invest and transfer. Can I go back and correct the amount I reported? because as it stands right now, I get no fin aid.</p>
<p>Any advice will be welcomed.</p>
<p>The money was IN your account on the day you filed your original FAFSA, and therefore it was NOT a mistake to report it. If the money was IN your account the day you filed your original FAFSA, you cannot change the asset amount.</p>
<p>Thumper is correct. If the money was in your account on the day you filed FAFSA then it is a reportable asset. You are not supposed to change it.</p>