<p>I found a mistake on our submitted FAFSA (duh) and wondered if it made more sense to correct and submit it prior to the revision with final 2010 tax info.
Should I just wait and do it once?</p>
<p>If it’s big, and especially if it’s in your favor (may result in more financial aid) I would update it ASAP, unless you expect to have your final tax info very soon. Keep in mind that it’s best for the school to have the most favorable (to you) version of the FAFSA in front of them when initially parceling out aid – it’s much easier for them to take some back if necessary than to find funds to provide more aid if your updates indicate you are eligible for more.</p>
<p>Is it necessary to explain the correction? It is in our favor but not a very big amount.</p>
<p>There isn’t any place to explain the corrections on the FAFSA. BUT people make mistakes all the time and need to correct them…things like adding extra zeros…or not putting in enough zeros…or putting some amount on the wrong like.</p>
<p>If you are going to be updating with the numbers from your tax return sometime soon…just wait and do it then. Those are the numbers that really matter.</p>
<p>And do your taxes and update AS SOON AS POSSIBLE.</p>