I am not looking to do anything sneaky. I just know the number is wrong. In 2018 I did a big 401K rollover and did not indicate that on the FAFSA and I am ‘guessing’ this is the issue. My EFC is some huge ridiculous number - triple what it was last year and I actually have an additional kid in college for this FAFSA. I am almost certain it has to do with the Rollover. But no one can help. FAFSA can do anything. When I go back to edit the FAFSA, there used to be a check box asking if I had untaxed pension/IRA rollovers and I clicked no. When I go back to Edit the FAFSA I cannot un-check it, because not strangely it says “Transferred from IRS”. I am SO confused. FAFSA wont help me. Who can I appeal to directly to have the EFC fixed? I keep reading that my only option now is to call/email each of the 12 schools my daughter is applying to and provide documentation? Is that my only option. What if an EFC is just WRONG, isnt there anyone I can talk with to prove the case and have it fixed? Thanks
You can contact each college. The colleges will want documentation of your rollover and they can make the correction.
Someone else here had the same issue, and they reported that they called the FAFSA number and someone there was going to send them some paperwork to send to FAFSA folks, and they could make the correction. I’ve never heard of that before, but give it a try!
You cannot make this IRA rollover correction yourself.
You should have checked…yes.