FAFSA FAQs - Verification, Changes, FSA IDs and Status

FAFSA FAQs - Verification, Changes, FSA IDs and Status

by Red Oak College Planning

Mike Velasco

A number of students and families will be preparing their FAFSA
applications in October 2017,– (October 1st is the earliest one can
submit a FAFSA – and, as we’ve noted many times, you want to make sure
you’re submitting your FAFSA before the ‘priority filing date’).

Hopefully, your process will be a smooth one. All too frequently,
however, that’s not the case. Here are some of those situations –
detailed below in our ongoing series of FAFSA Questions & Answers.

FAFSA Questions And Answers

Q: What happens if I’m selected for FAFSA verification?

A: A number of applications get flagged for verification every year.
FAFSA recommends colleges verify at least 30% — and some colleges choose
to verify every application that passes through their hands.

If there’s a discrepancy between your FAFSA information and that
which a college has… or if you’ve used estimates as placeholders when
submitting your original FAFSA – there’s a chance you’ll be selected for
verification as well.

Note that roughly one-third of FAFSA forms are selected for
verification – minimum – so you’re in good company if you fall into this
category. This is a normal part of the process – this isn’t like being
audited by the IRS.

Each verification process will be different, so all you can do to
prepare is have your information handy. That means things like tax
returns, proof of income, proof of expenses and proof of investment
account values...

If you’re selected for verification, the U.S. Department of Education
will send you a worksheet – just complete the worksheet and send it
(along with copies of any necessary information) to your college. If you
have any questions about your particular situation, call your college’s
financial aid office and they’ll be able to help.

A Unique Opportunity

You won’t find this anywhere else in the college planning space…

It’s an “inside look” at your college funding situation with an authorized college funding advisor – absolutely free.

I’ll help you figure out where you stand… including whether or not
you can lower your expected family contribution (EFC) – and maximize
your eligibility for financial aid. What’s more – you set the date and
time for the call.

Sign up for your free analysis today please register at:

http://redoakcollegeplanning.com

or call us at 908-758-1322

Visit our website to learn more about College Financial planning :

http://redoakcollegeplanning.com/

Q: How Do I Make Changes To My FAFSA?

A: Let’s say that you realize, after turning in your application,
that some of the information is incorrect. Fortunately, you can change
just about anything online, except for an incorrect Social Security
number. Just go to www.fafsa.ed.gov and you’ll be guided through the necessary steps. You will need to have the student and parent FSA ID username and password.

If you incorrectly entered a social security number, the online
process won’t help you. You’ll have to fill out a 10-page Student Aid
Report. You can get that by calling 800.433.3243,
selecting “Application Status” from the prompts, and then “Paper SAR.”
Answer the automated questions, and you’ll get a 10-page SAR mailed to
you in 7-10 days. From there, you can correct anything – including a bad
Social Security number, or a mistyped last name.

Note that you are able to add or change colleges directly on the FAFSA.

If you submitted the FAFSA online, you can make corrections
immediately. If you submitted a paper FAFSA through the mail, any
corrections need to be made through the mail.

Q: How Do I Get My FSA ID if I forgot my username or password?

Entering your FSA ID username and password is the only way you can
access your FAFSA application. Below are the simple steps for retrieving
your password and/or username on the FSA ID website: https://fsaid.ed.gov

To retrieve your password:

Within the “Edit my FSA ID” tab, select the “Forgot My Password” link.

• Your first option is to have a security code sent to the email address used when registering for the FSA ID.
• Simply enter the email address in the required field, and select “E-MAIL SECURE CODE.”
• After receiving the security code, enter it and you will be prompted to reset your password.
• You may then log in using your new password in conjunction with your registered email address or user name.
• Your second option is to answer the security questions you established when registering for the FSA ID.
• Simply answer three of the five questions correctly and you will be allowed to reset your password.
• You may then log in using your new password in conjunction with your registered email address or user name.

To retrieve your username.

• Within the “Edit my FSA ID” tab, select the “Forgot My Username” link.
• Your first option is to have a security code sent to the email address used when registering for the FSA ID.
• Simply enter the email address in the required field, and select “E-MAIL SECURE CODE.”
• After receiving the security code, enter it and you will be given your Username.
• You may then log in using your Username in conjunction with your registered password.
• Your second option is to answer the security questions you established when registering for the FSA ID.
• Simply answer three of the five questions correctly and you will be given your Username.
• You may then log in using your Username in conjunction with your registered password.

Q: How Do I Check The Status Of My Submitted FAFSA?

A: There are two ways to check your status. You can go to fafsa.ed.gov and click ‘Start Here’ – from there, just follow the prompts, and you’ll get your answer.

Alternatively, you can call 800.433.3243 and inquire that way.

About Red Oak College Planning:

Red Oak College Planning is located in Basking Ridge N.J.

Mike
Velasco the President of Red Oak College Planning has over 30 years of
experience in the financial services industry, with expertise in college
financial planning, retirement planning and family income and estate
protection. Red Oak College Planning is affiliated with the College
Planning Network ("CPN"), and together they have helped numerous

parents successfully navigate the college admissions and financial
aid process so they can comfortably afford to send their children to
college... regardless of the cost.

CPN is the Nation's largest and most reputable college

admissions and financial aid servicing center and has averaged
nearly $19,075 per year in college aid for its average family and nearly
$4,900 in financial aid award appeals.