<p>If you have to correct your FAFSA, do you have to change all the items that say 'of this date', such as parent and student assets?</p>
<p>thanks</p>
<p>we just corrected income type questions from our 2005 tax statement. we left all the asset questions as is.</p>
<p>No - the assets should be as of the date of original filing.</p>
<p>I've not seen clear instructions on this issue from the FAFSA folks (DOEd). At any rate, last year when we updated the income figures using the online FAFSA correction, we also adjusted the Student assets (down considerably in this case-- he paid for a trip out of his funds). Went through OK, and lowered the EFC.</p>
<p>So unless there are instructions to the contrary, if it would benefit you to adjust the assets to the current (correct) figures, I'd do it.</p>