We submitted 3 rounds of FAFSA with different college lists (lists #1, #2, #3) in Nov, Dec and Jan. We used the IRS DRT tool.
EFC is $78K.
Also submitted CSS profile, tax returns and w-2s.
We received an email 4 days ago saying that FAFSA processed the correction made by a college. We compared the updated SAR with our SAR version and there is one change. Field 92a (Parents payments to tax deferred pensions retirement savings) was empty in our version and college filled it with the right amount. The same field appear in CSS profile as well and we filled in there but somehow missed in FAFSA. The EFC is increased to $98K.
The updated SAR has the list #2 colleges on it, so should be one of the colleges from that list.
Will all the colleges from the 3 lists have the updated SAR? If not, do we have to send them?
We have 2 acceptances from list #1 and we got unsubsidized loan, which we are not planning to take anyways, if committed. Do we have to update these colleges as well or just talk to the college after we commit?
We checked the college portals and 2 of them (from list #2) was already updated the Fafsa received date as 2/11.
Will colleges consider updated date as the submitted date?
Is there a way we can find out which college made the change?
Is there anything else that we need to do?
Greatly appreciate any insights. Thank you so much.
I would update that amount on transactions 1 and 3, which you can do online (be sure to add electronic signatures via FSA ID and submit). The school that updated the information on transaction #2 probably did it in a way that updated it for all schools on that transaction, but you can call the FAFSA helpline to confirm. I don’t think you get a notification if they change it only for their own school, but you should make sure. If the change only is on file for one school on transaction #2, update that transaction and submit as described for 1 & 3. You don’t need to contact any of the schools if you do that - they will receive the changes. If you had a really low EFC, I would encourage you to call, but at your EFC, there is no need to do that (it’s not likely to change your aid). The date of your original submission is the date colleges use as your submission date, even if you make subsequent changes.
What’s the point in submitting in the first place or resubmitting FAFSA or CSS (not free) if your EFC is 78k? This is beyond most if not all colleges’ CoA. Especially if you’re not going to take the unsub loan.
In theory, there is probably no reason to update with an EFC that high. I suggest it just to set things straight. But in reality, you probably don’t need to bother making the changes.
If you do make the updates, every college on the transaction you update will get the change. You would not need to do anything more than fix the transactions that don’t have the update already (so #1 and #3).
Thank you so much for your inputs.
Will probably just think about making changes if the impact is almost none.
In case if we have to commit to the college that is not on the list, we will definitely talk to the FA office and inform them about the missing piece and make sure if everything is straightened out.
I also had a change made to my FAFSA by a college (one from which I have not received a decision yet. ) I also have a high EFC, but just wondering if this is any indication of possible admission or is it just part of the process?