<p>D1 is entering college this fall. We did not apply for financial aid because when I did the estimated calculations on the College Board site, our EFC was well above one year's total college expenses at any college.</p>
<p>Since then, "others" have suggested that we should have filled out a FAFSA -- because schools might be more inclined to give some sort of aid if we had entered into the financial aid process. (She did recieve some merit aid.)</p>
<p>D2 is a junior, so we're wondering if we should be thinking about changing our plan for her. Any advice?</p>
<p>Well at some point anyone's resources are such that they're a full-pay family and nothing is going to change that. If as you say your EFC was "well above" the COA, it sounds like you are in that category, at least for now.</p>
<p>When your second child starts college, your EFC is more or less split between them, so depending on where D2 chooses to go, that might put you in the category of EFC < COA times 2. In which case there might be some need-based aid available. </p>
<p>But if your EFC is even well above the combined COAs, I wouldn't bother with the FAFSA unless you had specific information that it would open a merit scholarship door that will otherwise be closed. I hear a small minority of schools are like that for merit scholarships, I guess even Bill Gates would have to fill out a FAFSA. That FAFSA is a pain to fill out each year, and if there is no a clearly-understood reason to do it, you can spare yourself.</p>
<p>Personally I think everyone should fill out the FAFSA (except, perhaps for the independently wealthy). If your financial circumstances change during a college year due to unexpected circumstances (job layoff, high medical expenses, etc), the college will have your FAFSA and can reconsider your financial aid if you request it. Simply put, if you have some catastrophic reason for needing additional finaid, the last thing you will want to do is fill out the FAFSA. So..do it now.And yes, there are schools that require the finaid forms be filled out. My son goes to a university that requires all entering freshman seeking need based OR merit aid complete both the FAFSA and the PROFILE. For renewal only the need based folks need to refile.</p>