M&MsMom Posted October 18, 2017 Share Posted October 18, 2017 So I'm just trying to get this straight...Even though I don't think I qualify for need-based financial aid, we are filling out the FAFSA, because that seems to be the conventional wisdom. So here's my question...on the applications, the colleges ask if I am applying for need-based aid. Is the answer "Yes" because we filled out the FAFSA? (even though I'm pretty sure we won't qualify?) Thanks for your help! Quote Link to comment Share on other sites More sharing options...
regentrude Posted October 18, 2017 Share Posted October 18, 2017 Answer "yes" unless you are independently wealthy. The college may give need based aid, even if you would not qualify for federal aid. 4 Quote Link to comment Share on other sites More sharing options...
M&MsMom Posted October 18, 2017 Author Share Posted October 18, 2017 Okay, thanks for the input! It bothers me that if you put yes to that question, sometimes they waive the application fee. Makes me feel guilty. :crying: Quote Link to comment Share on other sites More sharing options...
justasque Posted October 18, 2017 Share Posted October 18, 2017 So I'm just trying to get this straight...Even though I don't think I qualify for need-based financial aid, we are filling out the FAFSA, because that seems to be the conventional wisdom. So here's my question...on the applications, the colleges ask if I am applying for need-based aid. Is the answer "Yes" because we filled out the FAFSA? (even though I'm pretty sure we won't qualify?) Thanks for your help! I would add that many schools require the FAFSA if you want any kind of aid, including merit aid, even if you won't qualify for any FAFSA-based aid. That makes sense, even though it is a pain, because that way the school can be sure that every student is getting as much FAFSA-based aid as they are qualified for (because sometimes a family's assumption of no FAFSA aid turns out to be wrong), and because that way they have every family's financial info so they can dole out merit aid or school-funded need-based aid to the students who need it most. That is, if daddy1 is a multi-millionaire (but applies for aid regardless), vs. daddy2 is making $100K, neither is likely to qualify for FAFSA-based aid, but daddy2's kid is more likely to need a bit of school-funded money to be able to attend than daddy1's kid, and it benefits the school if both kids are financially able to attend. Quote Link to comment Share on other sites More sharing options...
regentrude Posted October 18, 2017 Share Posted October 18, 2017 Okay, thanks for the input! It bothers me that if you put yes to that question, sometimes they waive the application fee. Makes me feel guilty. :crying: none of the 15 schools my kids applied to waived the application fee just for checking that we planned to apply for need based aid. 2 Quote Link to comment Share on other sites More sharing options...
M&MsMom Posted October 18, 2017 Author Share Posted October 18, 2017 From the UChicago's website: The University of Chicago does not charge an application fee for students applying for need-based financial aid. For students not applying for need-based financial aid, our application fee is $75 and can be submitted through the Coalition or Common Application. That's why I was wondering if this sort of thing was commonplace. :-) Quote Link to comment Share on other sites More sharing options...
FaithManor Posted October 18, 2017 Share Posted October 18, 2017 And even unsubsidized Stafford loans are considered "aid". So if you think your student will be taking out the $5500.00 freshman loan, you have to fill out FASFA to qualify even though you aren't eligible for anything else. 1 Quote Link to comment Share on other sites More sharing options...
regentrude Posted October 18, 2017 Share Posted October 18, 2017 (edited) From the UChicago's website: The University of Chicago does not charge an application fee for students applying for need-based financial aid. For students not applying for need-based financial aid, our application fee is $75 and can be submitted through the Coalition or Common Application. That's why I was wondering if this sort of thing was commonplace. :-) must be new, I'm pretty sure we paid the app fee. I agree, if you do not need financial aid and are really rich and able to pay their sticker price of $68,000/year out of pocket, you should not ask that the app fee be waived. But then, those $75 can easily come out of the 68k :) Edited October 18, 2017 by regentrude 1 Quote Link to comment Share on other sites More sharing options...
wapiti Posted October 19, 2017 Share Posted October 19, 2017 If any of the schools on the list are *not* need-blind, why not first run the Net Price Calculator to see about the likelihood of financial aid? I thought the NPC should be much more accurate than the FAFSA. 1 Quote Link to comment Share on other sites More sharing options...
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