Skip to main content
Advertising

Originally published July 7, 2014 at 2:37 PM | Page modified July 7, 2014 at 9:18 PM

  • Share:
           
  • Comments
  • Print

With decimal mistake, students become millionaires

Low-income students have inadvertently presented themselves as millionaires on an application for federal financial student aid -- making it less likely they will qualify for grants and loans.


AP Education Writer

advertising

WASHINGTON —

Low-income students have inadvertently presented themselves as millionaires on an application for federal financial student aid -- making it less likely they will qualify for grants and loans.

The mistake stems from an online form change to the Free Application for Federal Student Aid, or FAFSA, made Jan. 1 that expanded the space to enter income. Thousands of students have since then unnecessarily entered a decimal point that the system was ignoring. That means someone with an income of $20,000.19 could inadvertently register income of $2,000,019.

The Education Department has said about 165,000 applicants have been identified as affected. The department said Monday a fix was made to the system last week and applications submitted this year are under review.

The National Association of Student Financial Aid Administrators was encouraging applicants with questions to reach out to their institution's financial aid office.

"At a minimum, it's an inconvenience," said Justin Draeger, president of the association. "At a maximum, it could really affect your financial aid award."

The FAFSA form is used to obtain federal loans and grants and millions are processed annually. Some states and colleges also use it to determine eligibility for other aid.

_____

Online: National Association of Student Financial Aid Administrators: http://www.nasfaa.org/

_____

Follow Kimberly Hefling on Twitter: http://twitter.com/khefling



Want unlimited access to seattletimes.com? Subscribe now!

News where, when and how you want it

Email Icon

Career Center Blog

Career Center Blog

The power of good manners


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►