14. 1,099 (approx) Reasons to be Involved
Automation is convenient but may be costly. The ‘Data Retrieval Tool’ used within the FAFSA to import your tax returns does a great job… indiscriminate, but great!
When you receive a 1099-R from any company due to a rollover, transfer, 1035 exchange or whatever, make SURE that its amount is NOT included in your EFC calculation. There are methods to verify that it should not belong and how to remove it.
The Financial Aid Administrator at each college has the authority (and capacity) to correct the data elements in a completed FAFSA to correct errors. Their system can then recalculate your ‘corrected’ EFC for Federal need-based financial aid eligibility.