My son received an email from FAFSA today that a correction was processed to our EFC. When he logged in, it was “corrected” by increasing our EFC by additional $9k. Fortunately, the correction is not going to affect COA for my son. Has this happened to others? Is it odd that it was processed after all the schools provided financial summary? I thought changing FAFSA process for class of 2017 of using 2015 tax returns was suppose to make it smoother.
The tax year used doesn’t matter. If there is an inconsistency or error, the colleges must correct the fafsa to reflect that error.
Was the correction accurate?
<<<
Our EFC is high so grants and need based aid were not offered.
[QUOTE=""]
[/QUOTE]
A $9k increase in EFC?
Sounds like maybe IRA or 401k contributions may not have been properly included?
Did the school ask for tax returns, or W2s after submitting FAFSA?
What did they change on the FAFSA?
@mom2collegekids You are correct. I went through line by line on the revised SAR and the original SAR received in the fall. The only difference is the line for retirement savings. Since this is our first time completing the FAFSA, we must have miss that line item.
@ mommdc It appears that a college asked for a revision.
@cag60093 an exception to the retirement savings would be if it was a rollover. You know your situation, so if it was indeed a rollover it should be backed out. you’ll need to tell the school.
Rollovers are not onnthe same line as retirement contributions.