Hello everybody, I recently made a correction to the FAFSA because I made a large purchase that greatly impacted the amount of money in my savings as well as my assets. I was able to easily make this change for the FAFSA, but I was unable to make this same change for the CSS. Will my financial aid application be flagged in any way if the two do not match, or is there some way of informing my schools that my assets have changed rather significantly? If I’m unable to change it, which one will they use to estimate my EFC?
Your assets are to be reported as of the date of filing. You do not make changes based on future purchases. It sounds like your CSS is correct and your FAFSA is now incorrect.
Your assets should NOT have been changed on the FAFSA unless there was an error when you initially submitted it.
It sounds like your assets changed AFTER your initial FAFSA filing. To be honest, if this is the case, you need to go back…and change your assets back to,what they actually were on the date of your initial filing.
And yes…this will likely get flagged…and you may be asked to show documentation of your assets as of the day of your initial FAFSA filing…since apparently that matches your Profile.
twoin is right. You need to go back and change your FAFSA to what it was before.
Alright, I will go back and change it. Thanks guys.
@Brinestx, you said “I recently made a correction to the FAFSA because I made a large purchase that greatly impacted the amount of money in my savings as well as my assets.”
I’m curious, how exactly did a large purchase significantly change your asset total? Presumably, you exchanged one form of asset (cash) for another (house, car, etc.).
The FAFSA doesn’t ask for value of car, primary residence.
But the asset balance (savings, investments) should match the balance as of the day you first submitted FAFSA.