Any downfalls in NOT filling out FAFSA?

[Tina 369]

Last year was a great year for dh's business, so I figure ds won't get any help anyway. He's taken a year off, and planning on a 2 yr tech school.

 

Next year, our income will have dropped drastically for taxes, as dh is in a different business. Next year, he could maybe get some help, but I'm pretty positive not this year.

 

Will he have problems next year if we don't fill it out this year?

[Susan C. 840]

I think you have to for college admission, see what others say.

[Miss Marple 1,831]

We have never filled out the FAFSA. Our income and lack of debt mean that we will not qualify for anything. However this has not been a problem at our state university - both boys have received merit scholarships without problems.

 

I have, however, seen scholarship applications and other colleges that require the FAFSA whether you qualify for aid or not. Best to check with the individual school.

[Brenda in MA 625]

Last year was a great year for dh's business, so I figure ds won't get any help anyway. He's taken a year off, and planning on a 2 yr tech school.

 

Next year, our income will have dropped drastically for taxes, as dh is in a different business. Next year, he could maybe get some help, but I'm pretty positive not this year.

 

Will he have problems next year if we don't fill it out this year?

 

I'm not sure if I understand your question. Will your son start college in 2012-2013 or 2013-2014? The FAFSA is a one-year form, so you only need to fill it out this year (or consider filling it out this year) if he will be in college in 2012-13. If you fill it out this year for the 2012-13 school year, it will ask for 2011 income.

 

You can use the FAFSA4Caster to get a general idea of your child's EFC:

 

https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1

 

One reason to fill out the FAFSA even if you don't qualify for need-based aid is that any student who fills it out is eligible for the unsubsidized Stafford Loan (which doesn't need a co-signer). The student doesn't have to take out the Stafford Loan if he files the FAFSA, but it is an option.

 

HTH,

Brenda

[TranquilMind 8,523]

We have never filled out the FAFSA. Our income and lack of debt mean that we will not qualify for anything. However this has not been a problem at our state university - both boys have received merit scholarships without problems.

 

I have, however, seen scholarship applications and other colleges that require the FAFSA whether you qualify for aid or not. Best to check with the individual school.

 

It's data mining at its most nefarious. Like used car dealers, the admissions people decide what kind of a deal you are going get under the "sticker price". Unlike the dealers, the colleges are already in the possession of all of the evidence to be used against you.

 

I understand that these um, people have tied MERIT aid and scholarships to filing a financial aid form. How this is reasonable and there is no complaint, I cannot fathom, so someone inform me if I am wrong on this, please. Not there yet for another year.

 

The question we should be asking is, what in God's name justifies college costs at the stratospheric level with nobody doing anything but making debt more accessible....but I digress. The product certainly isn't any better than 50 or 100 years ago.

Edited May 31, 2012 by TranquilMind

[TranquilMind 8,523]

I think you have to for college admission, see what others say.

Why would a financial aid request be a condition of admission? I don't understand.

[Susan C. 840]

Both dc got state scholarships, we had to file FAFSA for those. Dd had to have FAFSA filed to apply for outside scholarships, they asked for family contribution. It was also required to apply for school scholarships.

 

I think the only way you might get out of it is if you paid the tuition.

[AngieW in Texas 1,177]

Check with the college. Some will not allow you to fill out FAFSA in later years if you didn't fill it out freshman year. Some schools won't consider you for merit aid if you don't fill out FAFSA even though you know you won't qualify for need-based aid.

[Jpoy85 20]

DH and I went to college and we were not required to fill out FASFA. That was for an online college and community college years ago. :)

[Gwen in VA 2,571]

I think there are only three reasons for filling out the FAFSA --

 

1) If you want (and at least vaguely hope to receive) financial aid.

 

2) If your student received a merit aid package that requires filling out the FAFSA. (Not all colleges require filling out the FAFSA as a requirement for receiving merit aid but some do. It has something to do with the merit aid students then being eligible for work-study, which involves the federal gov't.)

 

3) If you expect to need financial aid in the future but don't need or expect it freshman year. Some colleges will not give financial aid to students who haven't filed the FAFSA for freshman year, but, like the merit aid thing, that is dependent on the college.

 

Summary -- call the financial aid office of the college(s) in question and ask! They should be happy to listen to your specifics and tell you if you should fill it out or not.

[creekland 41,102]

I think there are only three reasons for filling out the FAFSA --

 

1) If you want (and at least vaguely hope to receive) financial aid.

 

2) If your student received a merit aid package that requires filling out the FAFSA. (Not all colleges require filling out the FAFSA as a requirement for receiving merit aid but some do. It has something to do with the merit aid students then being eligible for work-study, which involves the federal gov't.)

 

3) If you expect to need financial aid in the future but don't need or expect it freshman year. Some colleges will not give financial aid to students who haven't filed the FAFSA for freshman year, but, like the merit aid thing, that is dependent on the college.

 

Summary -- call the financial aid office of the college(s) in question and ask! They should be happy to listen to your specifics and tell you if you should fill it out or not.

 

:iagree: This is one thing that varies with the school. If you knew you weren't going to need or want any aid at all for any year, then no, you don't need to file a FAFSA. For anything else, check with the college.

[TranquilMind 8,523]

Some schools won't consider you for merit aid if you don't fill out FAFSA even though you know you won't qualify for need-based aid.

 

I have heard this is true but WHY?

 

What possible justification could there be for knowing your entire financial status and the personal information of the entire family in order to decide whether some teen should get MERIT aid?

 

I really don't get it.

[Barbara H 1,709]

I have heard this is true but WHY?

 

What possible justification could there be for knowing your entire financial status and the personal information of the entire family in order to decide whether some teen should get MERIT aid?

 

I really don't get it.

 

For what it is worth it is quite common for families to make totally inaccurate assumptions about financial aid without having gone through the process. I've spoken with families who were Pell eligible but assume they'd get nothing, and families with incomes over $200,000 wonder if their kids would qualify for Pell grants. While some parents have put a lot of energy into researching the process many don't have the time for it.

 

So, one reason to have that policy in place is to help students be aware of their full range of possible options. Colleges aren't working from unlimited resources, they are trying to stretch and maximize a limited pool of money as effectively as possible to get as many qualified students as they can for their buck. In this process it makes sense to make sure students are utilizing other sources of aid they may be qualified for.