10 Common Mistakes to Avoid When Applying for Financial Aid. Also, What to Do If You Cannot Afford Your EFC (Expected Family Contribution), the Amount of Money You are Responsible to Pay Out-of-Pocket After Financial Aid is Awarded to You
#105 – On this episode we present the 10 most common mistakes students and parents/guardians make when filling out the Free Application for Federal Student Aid (FAFSA).
Although some of these mistakes are easily avoidable, some can be more difficult to catch.
We talk about several elements related to applying for financial aid, and highlight the importance of keeping track of the 3 different types of deadlines and applying early.
Jankel also gives advice to students and parents/guardians whose Expected Family Contribution may be more than they could afford.
She follows her advice with a story in which she helped a close friend lower her family’s Expected Family Contribution.
Links mentioned on this episode:
From Broward College: Library of videos with answers to financial aid questions
From Harvard College: How to Complete the FAFSA
From the Office of Federal Student Aid: 10 Common FAFSA Mistakes to Avoid
From the Office of Federal Student Aid: FAFSA Deadlines
Social Security Administration Website
From the Office of Federal Student Aid: How to Use the Data Retrieval Tool
From the Office of Federal Student Aid: To find out which parent to report on the FAFSA form
From the Office of Federal Student Aid: What Is the Net Worth of Your Investments?
From the Office of Federal Student Aid: To find solutions regarding parent information
From the Office of Federal Student Aid: Understanding the FAFSA Process for Parents
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