Great Advice for Parents 2022


CAN I MAKE CHANGES TO THE FAFSA AFTER I SUBMIT IT? Yes. Sign in to to update information if you find any errors, if your family’s financial situation changes or if you want to send your Student Aid Report to more schools. On the “My FAFSA” page, click on “Make FAFSA Corrections,” enter your FSA ID, change the information and resubmit your application. Making changes can impact your aid.

You can make changes up until the FAFSA deadline – June 30 after the school year you need aid.

HOW DO I ACCEPT OR DECLINE A FINANCIAL AID OFFER? Once you choose a college to attend and receive an aid offer, you must indicate what aid you want to use for the upcoming school year. Accept aid in this order: grant and scholarship money, work- study, subsidized federal student loans and then unsubsidized federal student loans. If you have payment gaps you can’t fill with savings or income, consider a private student loan. Private loans are not available through the FAFSA process. You’ll need to research the possibility of getting private loans from banks, credit unions or online lenders. Compare interest rates, repayment options and protections, such as forbearance, before choosing a private loan. 17

Anna Helhoski is a senior writer at NerdWallet

The article Your FAFSA Questions Answered originally appeared on NerdWallet.

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