If my student will be full pay is there any reason I should fill out the FAFSA?

[Anonymous]

I have looked at all the calculators and I know that I will not get any aid whatsoever. So are there any reasons that I should fill out the FAFSA form and submit it to colleges? TIA

[Anonymous]

Might it be necessary to be considered for other scholarships and grants?

[Anonymous]

Generally, no reason to file FAFSA.

Very few colleges offer merit scholarships that involve a full-pay applicant to rule out Pell eligibility by filing FAFSA. Check the scholarship webpage of the colleges on your list to make sure.

[Anonymous]

Related question. Please answer if you know.

If my EFC is 40k, and child will be attending in state school with COA of 30k, but I can't afford 30k---- will my child be offered the need based stafford loans, the ones where the government pays the interest along the way? Or only the other non need based stafford loans? Thanks!

[Anonymous]

No. It is an invasion of privacy beyond all others. We stopped after our youngest child's second year. I don't know who the schools are giving financial aid to but it wasn't us. We made deal with our son: if you graduate in 3.5 years - instead of in four - you will get the final bundle in cash.

[Anonymous]

Anonymous wrote:Related question. Please answer if you know.

If my EFC is 40k, and child will be attending in state school with COA of 30k, but I can't afford 30k---- will my child be offered the need based stafford loans, the ones where the government pays the interest along the way? Or only the other non need based stafford loans? Thanks!

Sorry I haven't gotten there yet but I just want to say it stinks that they expect you to pay 40k and you can't afford nearly that much! Ugh.

[Anonymous]

I've been told you need it for merit aid (no experience yet, have a senior and filled it out on 10/1). I don't care who has that info, and if it means my kid gets some merit aid, I'm happy to share (our DC will most likely be full pay at a $70k top 10 school).

[Anonymous]

Anonymous wrote:Related question. Please answer if you know.

If my EFC is 40k, and child will be attending in state school with COA of 30k, but I can't afford 30k---- will my child be offered the need based stafford loans, the ones where the government pays the interest along the way? Or only the other non need based stafford loans? Thanks!

Use the college's Net Price Calculator to see a detailed estimate. This can be found on the college's financial aid website. You can't rely on FAFSA EFC to know what a specific college will offer.

[Anonymous]

We skipped it. Kid was still offered merit aid at two schools.

[Anonymous]

Anonymous wrote:Related question. Please answer if you know.

If my EFC is 40k, and child will be attending in state school with COA of 30k, but I can't afford 30k---- will my child be offered the need based stafford loans, the ones where the government pays the interest along the way? Or only the other non need based stafford loans? Thanks!

Nope.

Your child will be eligible for roughly 5K in unsubsidized Federal loans (interest accrued from the minute it’s deposited into your child’s account) and private loans up to the cost of attendance. Interest accrues from the moment they’re deposited. None of these loans can ever be discharged, not even in bankruptcy.

[Anonymous]

Anonymous wrote:I've been told you need it for merit aid (no experience yet, have a senior and filled it out on 10/1). I don't care who has that info, and if it means my kid gets some merit aid, I'm happy to share (our DC will most likely be full pay at a $70k top 10 school).

The vast majority of schools do not require the FAFSA in order to award merit scholarships.

Top ten schools do not award merit aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I've been told you need it for merit aid (no experience yet, have a senior and filled it out on 10/1). I don't care who has that info, and if it means my kid gets some merit aid, I'm happy to share (our DC will most likely be full pay at a $70k top 10 school).

The vast majority of schools do not require the FAFSA in order to award merit scholarships.

Top ten schools do not award merit aid.

If you search other posts on this topic you will find that DCUM, in all its wisdom, has identified 2 schools that MAY require FAFSA for one or more of its merit scholarships: Fordham and Villanova. So to fill FAFSA out if you are not applying to one of those colleges (or another school that says it requires it) is a big waste of your time, not to mention you are handing over your most sensitive personal financial information for no good reason.

[Anonymous]

We make >$300K and assets over $2M (non-retirement, non-house) and will not qualify for need-based aid (we tested this on a couple of school websites).

Is there a point in checking the "need aid" box in the common app? Does not checking that box help with admissions (because it tells the schools we are full pay, albeit with no choice)?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been told you need it for merit aid (no experience yet, have a senior and filled it out on 10/1). I don't care who has that info, and if it means my kid gets some merit aid, I'm happy to share (our DC will most likely be full pay at a $70k top 10 school).

The vast majority of schools do not require the FAFSA in order to award merit scholarships.

Top ten schools do not award merit aid.

If you search other posts on this topic you will find that DCUM, in all its wisdom, has identified 2 schools that MAY require FAFSA for one or more of its merit scholarships: Fordham and Villanova. So to fill FAFSA out if you are not applying to one of those colleges (or another school that says it requires it) is a big waste of your time, not to mention you are handing over your most sensitive personal financial information for no good reason.

Duke and Chicago do offer some merit scholarships.

[Anonymous]

Anonymous wrote:Duke and Chicago do offer some merit scholarships.

Sure they offer merit, but it's a simple enough matter to browse the merit offerings on their websites to see whether any of the merit scholarships that your student might fit criteria for involve filing FAFSA.

There are two reasons a college may ask for FAFSA, one for combination merit/need scholarships that the full pay student wouldn't be eligible for anyway, and the other to rule out Pell eligibility.

U Chicago might possibly have some merit/need combo scholarships, perhaps among their diversity options, but it is very unlikely that they have a pure merit scholarship that requires FAFSA but does not require financial need.