Error: The FAFSA form is validated by the US Department of Education.
The correct term is "verification." Verification is performed by the
college financial aid administrators to ensure that the information
submitted on the Free Application for Federal Student Aid (FAFSA) is
accurate. The online FAFSA does include edit checks that detect the
most common errors, and certain questions will trigger a data match
with the Social Security Administration, Selective Service System,
Department of Homeland Security and other federal databases.
Error: Early acceptance is like applying during the junior year in
From context the speaker was talking about early admission, not early
Early admission involves applying for admission in early fall, before
the regular admission cycle. Early admission deadlines are typically
in late October or early November, with notification of admissions
decisions in mid-December.
There are two types of early admission programs. Early action is
non-binding, while early decision is binding.
Error: You must have your taxes done first before filing the FAFSA.
You do not have to file your federal income tax return before filing
the FAFSA. You can file the FAFSA based on your W-2 forms and 1099
statements and the last pay stub of the year. After you have filed
your federal income tax returns you will have an opportunity to update
the information on the FAFSA.
You should not wait until you've filed your income tax returns or have
been admitted to file the FAFSA. Some states have very early deadlines
for state aid. For example, Connecticut usually has a deadline in
mid-February, and there are many states with March deadlines. There
are five states that award state grants on a first-come, first-served
basis until the money runs out: Illinois, Kentucky, Oregon, South
Carolina and Tennessee. Some colleges have a preferred deadline and a
regular deadline for applying for financial aid, with a bigger pool of
funding available to students who apply by the preferred deadline. So
waiting to file the FAFSA may affect the amount and types of financial
aid you receive.
Error: All aid is first-come, first-served.
Some financial aid is awarded on a first-come, first-served basis, as
discussed above, but the majority is not. The Federal Pell Grant, for
example, functions like an entitlement, and is awarded throughout the
year. So long as you apply before the deadline, you will be considered
for the financial aid.