Should a high(ish) income family fill out the FAFSA?

[Anonymous]

The only reason for you to fill it out would be if the school your child plans to attend requires it for merit aid. Ask the school.

FYI, HHI $240k, and I filled it out for kid 1, and got nothing. Filled it out again when we had 2 in college (before the FAFSA change, was thinking maybe with 2 in college we'd get something), but again got nothing. Stopped bothering to fill it out

[Anonymous]

OP, the need aware schools don’t care whether you fill out the FAFSA or not. They care how much aid you need. Do you have 0 need? $6K need? 60K need? This is the relevant information.
If you file FAFSA and have 0 need, then you are full pay, end of story, just like if you hadn’t filed.

[Anonymous]

OP VT requires it which is really annoying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes - it’s not hard. If you want to be eligible for merit aid at some schools, and/or you want your child to consider taking out federal loans

Real merit does not need a fafsa. Never did one, got true merit money from more than one school, one a named /prestigious full cost of attendance.

Some schools DO require it

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Whats the income? YOu could for merit aid, but it depends on the school.

Last year we made $420k due to bonuses...base salaries are $365k, so at least that. It would be great to get merit aid...

So you can easily cash flow one kid at 90k. We make around the same and are cashflowing two, ie paying from income. If you want merit fine but unless your kid is a superstar who can get into ivy-types, it is highly unlikely you will get merit from any school within the T40. The hefty merit passed out to lots on grades or scores alone is not from top schools just fyi, they are the lesser ones trying to buy students

Hmm, I don't know that we can easily cashflow $90k! NYC is crazy expensive. Anyway, we have the classic high stats kid in a selective NYC public school who doesn't really have the necessary hook for Ivy or Ivy-type schools (no huge awards, fascinating hobbies, etc etc). I'd like him to apply to a few schools below T40 level and see if they offer $ bait. I have that Buyers and Sellers spreadsheet.

[Anonymous]

Anonymous wrote:The only reason for you to fill it out would be if the school your child plans to attend requires it for merit aid. Ask the school.

FYI, HHI $240k, and I filled it out for kid 1, and got nothing. Filled it out again when we had 2 in college (before the FAFSA change, was thinking maybe with 2 in college we'd get something), but again got nothing. Stopped bothering to fill it out

OP - Thanks! If it won't hurt him in the process, I don't see a reason NOT to fill it out. My concern is mainly whether it will land him in the reject pile. Since we probably aren't getting aid anyway, I wouldn't want to hurt his chances of acceptance. Does that make sense? (Am I asking the right question?)

[Anonymous]

I do think it’s ok to wait until he is further down the process and knows what schools he’s considering / got into. DS is starting at VT and filling out the FAFSA got him $3K in merit aid he wouldn’t have gotten otherwise.

Filling out the FAFSA last year was an absolute, front page headlines, freaking nightmare, but I like to think it will be sorted out this year.